Citing market uncertainty, LG Electronics stalls its $15 billion India IPO plans but hints at a comeback if conditions stabilise. No firm decision yet.
LG Electronics has paused work on the planned initial public offering (IPO) of its Indian subsidiary due to instability in India’s equity markets, according to Bloomberg News. The South Korean tech giant has informed its advisors that the IPO may be delayed, with a possible restart if market conditions improve.
The report stated that no final decision has been made. An LG spokesperson confirmed the IPO process is ongoing but declined to provide a timeline, saying the term “suspension” may not accurately reflect the situation.
This development comes as Indian markets face turbulence. Recently, Ather Energy, a domestic electric scooter maker, reduced its IPO size by 15 per cent and slashed its valuation target by 44 per cent.
LG’s Indian unit had been preparing for a May 2025 listing. It received market regulator SEBI’s approval in March and filed its draft red herring prospectus (DRHP) in December 2024. The IPO was expected to raise around $15 billion, including an offer for sale of a 15 per cent stake by the parent company.
Despite the pause, LG has already conducted roadshows to attract investors. Morgan Stanley India, JP Morgan India, Axis Capital, BofA Securities India, and Citigroup Global Markets India serve as lead managers.
According to the DRHP, LG Electronics India reported revenue of ₹213.52 billion in FY24. The company is the second-largest consumer electronics player in India after Samsung.
Meanwhile, LG is expanding its manufacturing footprint in India. It plans to build a third production facility in Sri City, Andhra Pradesh, adding to its existing plants in Noida and Ranjangaon, Maharashtra.
While the IPO’s future remains uncertain, LG’s commitment to the Indian market appears firm.
