The IPO with a face value of Rs10 per equity share, is entirely an offer for sale up to 10.18 crore equity shares by LG Electronics Inc.
FinTech BizNews Service
Mumbai, March 17, 2025: LG Electronics Inc. subsidiary LG Electronics India Limited, the market leader in India in major home
appliances and consumer electronics (excluding mobile phones) in terms of volume for the three months
ending June 30, 2024, as per the Redseer Report, mentioned in the draft red herring prospectus (DRHP),
has received final observation from the capital markets regulator, Securities and Exchange Board of India
(SEBI), to raise funds through an initial public offering (IPO).
The Company had filed its IPO papers with Sebi on December 6, 2024.
The IPO with a face value of ₹10 per equity share, is entirely an offer for sale up to 10.18 crore equity
shares by LG Electronics Inc.
LG Electronics India, a subsidiary of LG Electronics Inc., was established in 1997 and has maintained its
position as the market leader in India’s home appliances and consumer electronics industry for 13
consecutive years (2011–2023) by value market share in the offline channel, according to a Redseer
Report mentioned in the DRHP.
When compared to listed industry peers like Havells India Ltd, Voltas Ltd, Whirlpool of India Ltd, and
Blue Star Ltd, LG Electronics India achieved the highest revenue from operations and earnings per share
(EPS) in fiscal 2024.
For fiscal 2024, the company reported a revenue of ₹21,352 crore, marking an increase from ₹19,868.24
crore in fiscal 2023. Profit after tax rose by 12.35% to ₹1,511.07 crore from ₹1,344.93 crore during the
same period. In the three months ending June 30, 2024, revenue was ₹6,408.80 crore, with a profit after
tax of ₹679.65 crore.
The company holds a dominant market position across various product categories, including washing
machines, refrigerators, panel televisions, inverter air conditioners, and microwaves. According to the
Redseer Report, for the six months ending June 30, 2024, these products commanded a significant share
in the offline channel, which represents approximately 80% of the major home appliances and consumer
electronics market (excluding mobile phones) in India by value.
Globally, LG Electronics is recognized as the leading single-brand home appliances company by revenue
for 2023, as per the Redseer Report. Catering to both B2C and B2B markets within and outside India, the
company offers same-day installation, repair, and maintenance services for its products.
With 27 years of experience in India, LG Electronics India has cultivated deep consumer insights, enabling
it to meet the unique demands of Indian customers. LG Electronics India boasts the largest distribution
network among its peers, covering both urban and rural regions through 36,401 B2C touchpoints. Its
after-sales services are facilitated through 949 authorized service centers nationwide, supported by an
extensive supplier base of 280 vendors with an average relationship tenure of 11 years as of June 30,
2024.
Morgan Stanley India Company Private Limited, J.P. Morgan India Private Limited, Axis Capital Limited,
BofA Securities India Limited, and Citigroup Global Markets India Private Limited are the book-running
lead managers and KFin Technologies Limited is the registrar to the issue.
