LG Electronics India has filed for a mega ₹15,000 crore IPO, aiming to raise approximately $1.8 billion through an offer-for-sale of equity shares.

By Manvi Pant and Hritam Mukherjee (Reuters) -The Indian unit of South Korea's LG Electronics filed for an initial public offering on Friday to cash in on the country's growing demand for consumer durables amid higher appetite for IPOs.

LG Electronics India, a leader in home appliances and air solutions, has filed for an IPO. Its financial performance outpaces competitors, including Havells and Blue Star.

LG Electronics India filed an IPO in India, aiming to capitalize on the country's growing appliances and electronics market. However, concerns arise regarding potential conflicts of interest with other LG entities and the lack of exclusivity agreements.

The Indian unit of South Korea-based LG Electronics Inc. filed for an initial public offering, the latest among foreign companies looking to tap investors in the South Asian country’s booming market.

LG Electronics has industry peers in Havells, Blue Star, Voltas and Whirlpool. The revenue and profitability profile of Havells is close to LG Electronics.

The IPO, which is entirely an offer for sale (OFS), will see Seoul-based parent LG Electronics divesting up to 101,815,859 equity shares of face value Rs 10 each from its Indian subsidiary

LG Electronics’ Indian arm has filed for an IPO to sell 101.8 million shares, aiming to raise $1 billion to $1.5 billion and achieve a valuation of about $13 billion. Major competitors include Whirlpool India and Samsung’s Indian arm.

The Indian unit of South Korea's LG Electronics filed for an initial public offering on Friday to cash in on the country's growing demand for consumer durables amid higher appetite for IPOs.