LG Electronics Inc.’s Indian subsidiary is poised to begin accepting orders for its $1.3 billion initial public offering (IPO), adding to a wave of new listings that could set a record for India this month.
The South Korean parent company plans to offer up to 101.8 million shares of LG Electronics India Ltd. at a price range of ₹1,080 to ₹1,140 each starting Tuesday. This pricing could assign the company a valuation of ₹77,400 crore (approximately $8.7 billion), making it the largest home-appliance manufacturer listed in India. Shares are anticipated to start trading on October 14.
This share sale follows Tata Capital’s beginning of orders for its $1.7 billion IPO, reflecting rising confidence that market demand can absorb large offerings despite challenges in the domestic stock market. Overall, Indian IPO revenues may surpass $5 billion in October.
The surge of new listings in India is largely fueled by substantial liquidity from both institutional and retail investors. In recent years, local investors have consistently injected capital into Indian stock funds, with recurring investment plans accumulating over $3 billion in most months of 2025.
“We need supply because money coming via mutual funds is creating demand for new listings,” noted Varsha Valecha, senior vice president of investments at the portfolio management firm Chanakya Capital in Mumbai.
With LG India’s IPO, the company will join HDB Financial Services Ltd., Hexaware Technologies Ltd., and Tata Capital as the fourth billion-dollar IPO in India this year. Significant participation in LG India’s anchor share sale has come from sovereign wealth funds in Abu Dhabi, Norway, and Singapore, as well as global investment firms such as BlackRock Inc. and Fidelity International Ltd.
India’s major fund managers, including SBI Mutual Fund, ICICI Prudential Asset Management Co., and Nippon Life India Asset Management Ltd., have also taken part in the offering.
The planned listing in Mumbai concludes nearly a year-long process that began with a filing in December, which was delayed due to market volatility and global uncertainties. The company has reduced its initial valuation target from $15 billion.
Despite this adjustment, the offering values LG India’s shares at 38 times its trailing 12-month earnings, as reported by Rajnath Yadav, an analyst at Choice Equity Broking. Comparatively, the parent company trades at about 14 times its earnings, while local competitors Havells India Ltd. and Voltas Ltd. trade at over 50 times earnings, according to data compiled by Bloomberg.
LG’s share sale has been facilitated by Axis Bank Ltd., along with the Indian branches of Morgan Stanley, JPMorgan Chase & Co., Bank of America Corp., and Citigroup Inc.
More stories like this are available on Bloomberg.com.
Published on October 7, 2025.
