LG Electronics Inc.’s Indian unit is set to start taking orders for its $1.3 billion initial public offering, joining Tata Capital Ltd. to launch deals in what could be a record month for new listings in the country.
The South Korean parent will offer as many as 101.8 million shares of LG Electronics India Ltd. at ₹1,080 to ₹1,140 each from Tuesday. That would value the company at as high as ₹77,400 crore ($8.7 billion), making it the largest home-appliance maker listed in India. The shares are expected to begin trading on Oct. 14.
The share sale, which comes a day after Tata Capital started taking orders for its $1.7 billion IPO, signals growing confidence that investor demand can absorb large issuances despite the headwinds facing the local stock market. All in all, Indian IPO proceeds could climb to a record in October, exceeding $5 billion.
The wave of new listings in India has also been powered by a gush of liquidity coming from domestic institutional as well as retail investors. Local investors have plowed money into Indian stock funds every month in recent years, with flows into recurring investment plans topping $3 billion in most months of 2025.
“We need supply because money coming via mutual funds is creating demand for new listings,” said Varsha Valecha, senior vice president of investments at portfolio management firm Chanakya Capital in Mumbai.
LG India is set to become the fourth billion-dollar IPO in India this year after HDB Financial Services Ltd., Hexaware Technologies Ltd. and Tata Capital, which is scheduled to begin trading on Oct. 13. The sovereign wealth funds of Abu Dhabi, Norway and Singapore and global money managers, including BlackRock Inc. and Fidelity International Ltd. participated in LG India’s anchor share sale.
India’s largest fund managers, including SBI Mutual Fund, ICICI Prudential Asset Management Co. and Nippon Life India Asset Management Ltd. also invested in the offering.
LG’s planned Mumbai listing would cap a nearly yearlong process since its December filing, which faced delays amid market volatility and global uncertainties. The company has significantly lowered its valuation from the $15 billion it initially sought.
The offering still values LG India’s shares at 38 times its trailing 12-month earnings, according to Choice Equity Broking analyst Rajnath Yadav. In comparison, its parent trades at about 14 times, while local peers Havells India Ltd. and Voltas Ltd. trade at more than 50 times, data compiled by Bloomberg showed.
Axis Bank Ltd., along with the Indian units of Morgan Stanley, JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc., helped arrange the LG share sale.
More stories like this are available on