LG India Receives SEBI Approval for its ₹15,000 Crore IPO
In a significant development, LG Electronics India has received approval from the Securities and Exchange Board of India (SEBI) for its ₹15,000 crore initial public offering (IPO). The LG India IPO is one of the country’s largest public offerings, and the issue is an Offer for Sale (OFS), which will list on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
The company had filed its draft red herring prospectus (DRHP) with SEBI in the first week of December, marking the beginning of the IPO process. The approval from SEBI paves the way for LG India to launch its IPO, which is expected to be a significant milestone for the company.
The LG India IPO aims to boost the company’s market presence and achieve its goal of reaching $75 billion in revenue by 2030. The company has been expanding its operations in India, and the IPO is seen as a strategic move to increase its presence in the country’s rapidly growing consumer electronics market.
LG India has been a prominent player in the Indian consumer electronics industry, offering a wide range of products, including smartphones, TVs, home appliances, and air conditioners. The company has been investing heavily in research and development, manufacturing, and marketing to strengthen its position in the market.
The LG India IPO will provide an opportunity for investors to participate in the company’s growth story. The IPO is expected to be a highly anticipated event, with investors eagerly awaiting the launch date and the issue’s subscription details.
Key Details of the LG India IPO
Here are some key details of the LG India IPO:
- Issue Size: ₹15,000 crore (approximately $2 billion)
- Type of Issue: Offer for Sale (OFS)
- Listing: Bombay Stock Exchange (BSE) and National Stock Exchange (NSE)
- Face Value: ₹2 per share
- Minimum Subscription: ₹2,000 per lot (1 lot = 25 shares)
- Maximum Subscription: ₹2,00,000 per lot
How to Apply for the LG India IPO
Investors can apply for the LG India IPO through various channels, including:
- Online: Through the ASBA (Application Supported by Blocked Amount) facility on the website of the lead manager, Axis Capital.
- Offline: Through the physical application form, which can be obtained from the offices of the lead manager, Axis Capital.
- UPI: Through the UPI (Unified Payments Interface) facility on the website of the lead manager, Axis Capital.
The IPO is expected to be a highly sought-after event, and investors are advised to apply early to avoid any last-minute issues.
Conclusion
The LG India IPO is a significant development in the country’s capital markets, and the approval from SEBI marks the beginning of a new chapter in the company’s growth story. The IPO is expected to provide a platform for investors to participate in the company’s growth story, and the company’s plans to achieve $75 billion in revenue by 2030 make it an attractive investment opportunity.
As the IPO is expected to be a highly anticipated event, investors are advised to keep a close eye on the developments and apply early to avoid any last-minute issues.
Source:
https://ascendants.in/business-stories/lg-india-ipo-sebi-approval-15000-crore-how-to-apply/
