'No definitive plans': LG Electronics shares update on India IPO, listing

LG Electronics India Ltd on Wednesday said the procedures for initial public offering (IPO) of its Indian unit are underway but the final decision on the listing part will be made based on market conditions and other relevant factors.

"No definitive plans have been confirmed at this time. We are closely monitoring the market and will consider a strategic timing that ensures a proper valuation of the company," an LG Electronics official spokesperson stated.

Earlier in the day, a few news reports -- citing sources -- claimed that LG Electronics has paused work on the initial share sale of the India unit. The reported pause comes at a time when equity market volatility has led homegrown e-scooter maker Ather Energy to cut its fresh share sale size by 15 per cent and slash its target valuation by around 44 per cent.

LG Electronics India, a subsidiary of the South Korean conglomerate LG, received approval from the Securities and Exchange Board of India (Sebi) in March this year, following the filing of preliminary papers in December 2024.

As per initial reports, LG was hoping to raise around $15 billion through the IPO, which included an offer for sale (OFS) from the parent company intending to offload a 15 per cent stake in its Indian operations. Although, the overall issue size remains undisclosed as of now.

Leading book-runners, including Morgan Stanley India, JP Morgan India, Axis Capital, BofA Securities India and Citigroup Global Markets India, are currently managing the issue.

Meanwhile, the IPO market is off to a slow start this year due to the heightened volatility across global stock indices.