LG India IPO is set for October launch at much lower valuation

The LG India IPO, whose dates are now out, pegs the valuation of the company at $9 billion versus $15 billion when the DRHP was first filed in December 2024.

LG Electronics Inc.’s India arm is set to launch its initial public offering to raise about ₹11,500 crore (about $1.3 billion) in the week beginning 6 October 2025, according to people familiar with the matter.

Attendees watch a display of LG Signature T transparent 4K OLED televisions at CES 2024, an annual consumer electronics trade show, in Las Vegas, Nevada. (Reuters)

That pegs the valuation of the company at around $9 billion, the people said, significanctly below the $15 billion it was expecting in December when the papers were filed the first time.

The South Korean company secured regulatory approval for its updated draft red herring prospectus on Thursday and is preparing to file the final version early next week, the people said.

LG India's would be third billion-dollar IPO to hit the stock market after HDB Financial Services Ltd. and Hexaware Technologies Ltd., in a year which has seen over $10 billion being raised through new offerings.

To be sure, discussions are ongoing, and the size and dated of the LG India IPO may still change, the people said. A representative for LG Electronics didn’t immediately respond to requests for comment.

LG Electronics India Ltd. first filed papers with the Securities and Exchange Board of India in December 2024, with plans for its parent to sell 10.18 crore shares, or a 15% stake, according to the DRHP. The approval came through in March, but the company deferred the issue as market volatility around that time dragged the valuation to between $10.5 billion and $11.5 billion.

Last month, it filed its updated draft prospectus.

Axis Bank Ltd., along with the Indian units of Morgan Stanley, JPMorgan Chase & Co, BofA Securities Inc. and Citigroup Inc., are the advisers to the share sale, according to the draft prospectus.

Meanwhile, LG Electronics is stepping up its investments in India. The TV maker plans to invest about $600 million over four years in a new factory in Andhra Pradesh — its third in the country.