LG Electronics' India arm files for IPO (updated)

Whirlpool of India

06/12/2024 11:18

(Updates with details and background from paragraph 2 onwards)
       Dec 6 (Reuters) - South Korea's LG Electronics'
 066570.KS  Indian unit filed for an initial public offering
(IPO) on Friday, with the parent firm selling 101.8 million
shares.
    IPO for the company, which sells washing machines and
refrigerators, is valued at 152.37 billion rupees ($1.80
billion), as per a Moneycontrol report, ranking the IPO among
the top five in the country this year.
    Morgan Stanley, J.P. Morgan, BofA Securities and Citi are
among its lead bookrunning managers. 
    LG Electronics competes with Whirlpool of India  WHIR.NS ,
Samsung's  005930.KS  India unit among others in the domestic
market. 
       
  
($1 = 84.6650 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru; Editing by Shailesh
Kuber and Janane Venkatraman)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))