LG Electronics IPO: Tremendous fluctuations in the market, LG deferred to bring IPO – Cross Talk India
Lg electronics IPO: A big update has come up with the IPO of veteran electronics company LG Electronics India. In fact, LG Electronics has postponed the decision to bring its IPO amidst the ongoing tremendous ups and downs in the Indian stock market. Sources associated with the industry have given this information about the IPO of LG Electronics. Let us tell you that LG is a South Korean company and its Indian unit LG India was going to bring IPO. Earlier, South Korean Business Group Chabol was planning to bring IPOs in the second week of May and then LG Electronics India listed in the stock market.
Preparation is to bring IPO of Rs 15,000 crore
Sources said that LG Electronics India has postponed its IPO for at least one quarter. He said that if the consumer electronics company does not like the market trend in August, then the IPO can be avoided even more. Some media reports estimated that the size of the IPO would be around Rs 15,000 crore, but the investors did not show much interest in this IPO. Let us tell you that the stock market is currently facing uncertainty after increasing the tariff of Trump administration and terrorist attack in Pahalgam in Jammu and Kashmir. A spokesman for LG Electronics said that the final decision on this would be taken on the basis of market conditions.
The company is closely monitoring the Indian market
The spokesperson said, “Processes for LGEIL’s IPO are still underway. The final decision on the listing will be made based on market conditions and other relevant factors. We are closely monitoring the market and will choose a time to ensure proper assessment of the company. ”Let us tell you that this proposed IPO of LG India will be fully OFS based, so LG Electronics India will not have any income from the issue and the entire amount raised will go to the South Korean original company.
With PTI inputs
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