LG Electronics Said to Launch $1.3 Billion India IPO After Pause
LG Electronics' India subsidiary is planning to launch an initial public offering (IPO) to raise around 115 billion rupees ($1.3 billion) in the first week of October. The IPO will mark the company's return to the public markets after a pause. The company's India arm, which manufactures and sells consumer electronics and home appliances, is expected to use the proceeds from the IPO to fund its expansion plans and reduce debt. The IPO will involve a mix of new shares and existing shares being sold by the company's parent, LG Electronics. The IPO is expected to be one of the largest in India this year, reflecting the growing importance of the Indian market for global electronics manufacturers. LG Electronics' India unit has been a significant contributor to the company's overall revenue and profitability, making the IPO a crucial move for the company's growth strategy in the country.
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