LG Electronics India's IPO Debut: A Landmark Moment

LG Electronics India Ltd is set to launch its much-anticipated initial public offering (IPO) valued at Rs 11,607 crore on October 7. The IPO, an offer-for-sale by the South Korean parent, will open for public subscription following a successful anchor round that raised Rs 3,475 crore.

LG Electronics India Ltd, the Indian subsidiary of South Korea's LG conglomerate, has raised Rs 3,475 crore from anchor investors on Monday, preceding its highly-anticipated initial share sale set to open for public subscription.

The anchor book witnessed significant interest from international investors, such as the Singapore government, Goldman Sachs, and Abu Dhabi Investment Authority, as revealed in a BSE circular. Domestic institutional investors, including SBI Mutual Fund and HDFC Life Insurance, were also allotted shares.

The Rs 11,607-crore IPO, entirely an offer-for-sale by the South Korean parent, is priced at Rs 1,080 to Rs 1,140 per share, aiming for an October 7 opening. This marks the second South Korean firm to seek public funding in India, after Hyundai Motors' debut last year.

(With inputs from agencies.)