LG IPO: Preparations for the huge IPO of LG Electronics begin, these banks get the responsibility
LG Electronics IPO: The products of South Korean MNC LG Electronics are very much liked in India. Now the company is busy preparing to bring IPO for its expansion in India.
The company is going to bring a huge IPO of about 1.5 billion dollars. For this, LG Electronics has selected many banks. It is being claimed that LG has handed over the responsibility of its IPO to Bank of America, Citigroup Inc., JPMorgan Chase, and Morgan Stanley.
According to a Bloomberg report, LG Electronics India can raise $150 crore i.e. around Rs. 12,582 crore from this IPO. Changes are also possible in this. Bloomberg quoted sources as saying that this IPO can come early next year.
The valuation of LG Electronics will increase to 13 billion dollars with the IPO
India is a big market for LG Electronics India. It wants to strengthen its position here. The company’s IPO may come early next year. During this IPO, shares worth 1 to 1.5 billion dollars can be launched in the market.
After the success of the IPO, the valuation of LG Electronics will be around 13 billion dollars in India. According to the Economic Times report, the company has not confirmed anything about this at the moment. The size and date of this IPO can change. But, the company is definitely engaged in its preparations regarding the IPO.
Strategy of $7,500 crores
When the shares are listed after the IPO of $100-150 million, the valuation of LG Electronics India can be around $1,300 crores. The company is bringing this IPO under a strategy because the company has set a target of $7,500 crore in electronics revenue by the year 2030 and this is part of the efforts to bring the consumer electronic business back on track. The company’s CEO William Cho said this in an interview with Bloomberg TV last month.
Application to SEBI next month
The company can file papers with market regulator SEBI next month for IPO. Actually, India is a fast emerging market and it is rapidly attracting global investors. Seeing the possibility of rapid growth here, many other companies are also in the queue.
Apart from this, other banks can also be brought together for the IPO. Some of these can also be Indian banks. According to a Bloomberg News report, the Indian market has become an important place for foreign investors.
Hyundai Motor Company also recently gave information about its IPO plan. LG has also set a target of increasing its revenue to $75 billion by the year 2030. This IPO is going to play an important role in this.
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