LG picks banks for US$1.5bil listing of India unit

LG selects banks to navigate US$1.5 billion listing of Indian division

South Korean electronics giant LG has enlisted the services of a consortium of banks to shepherd its Indian unit’s initial public offering (IPO), which is expected to raise approximately US$1.5 billion.

Goldman Sachs, Citi, and JM Financial to steer LG's Indian IPO

LG has appointed Goldman Sachs, Citi, and JM Financial as the lead managers for the IPO, which is slated to be one of the largest in India this year.

LG India IPO to bolster presence, fund growth plans

The proceeds from the IPO will be utilized to strengthen LG's position in the Indian market and finance its ambitious growth plans. The company aims to expand its manufacturing capabilities, introduce new products, and enhance its distribution network.

LG's strong performance in India

LG's Indian subsidiary has been a consistent performer, driven by the country's growing demand for electronics and home appliances. In the last fiscal year, the company reported a revenue of around US$5 billion.

Indian IPO market heats up

The Indian IPO market has witnessed a surge in activity in recent months, with several large companies tapping into the capital markets to raise funds. LG's IPO is expected to further boost investor confidence and attract global attention to the Indian equity markets.