New Delhi, Feb 17 (IANS) After Hyundai Motor (KS:005380) India Ltd (HMIL), the Indian subsidiary of Hyundai Motor Company, listed on the Indian stock market in a landmark Rs 27,856 crore initial public offering (IPO), another South Korean giant LG's India arm is all set for its mega IPO.Ahead of the public listing of LG Electronics India, the Chairman and CEO Koo Kwang-mo of its parent group, LG Corp, is likely to visit India this month.
According to reports, LG chief plans to finalise the India IPO and explore new investment opportunities in the country.
LG Electronics India filed the Draft Red Herring Prospectus (DRHP) with the markets regulator SEBI in December last year.
The potential Rs 15,000 crore public offering would position LG Electronics India alongside companies like LIC (NSE:LIFI), Hyundai Motors, Paytm (NSE:PAYT) and Coal India (NSE:COAL) in launching mega IPOs on the domestic benchmark indices.
According to its DRHP, LG's Home Appliances and Air Solution division generated 73.77 per cent-78.97 per cent of revenue in 2024, with refrigerators, washing machines, air conditioners, and TVs contributing 33.71 per cent-16.31 per cent.
Hong Ju Jeon, managing director, LG Electronics India, said in a media column on Monday that India has emerged as one of the fastest-growing countries for global corporations.
As a global manufacturing and innovation hub, it now leads the vision of “Make in India” solidifying its role as a key driver of multinational operations.
“India is not just a gateway but a cornerstone for achieving sustainable, scalable growth on the world stage,” he wrote.
In this context, the 2025 Union Budget presented a significant opportunity for India to lay a comprehensive framework that, if implemented, could catalyse India’s growing domestic manufacturing sector into a global manufacturing hub.
The country aims to grow from the fifth largest to the third largest economy by 2027, surpassing Japan and Germany.
“It not only paves the way for the economic development of the country towards becoming a developed nation by 2047, but also sets the tone for the corporations themselves to becoming global powerhouses of manufacturing with a stable and robust base capable of serving the world,” he further stated.
—IANS