LG Electronics India has submitted a draft red herring prospectus to the market regulator, signaling its intent to launch an IPO.

The company, part of the South Korean electronics giant, plans to sell 101.82 million shares, equivalent to 15% of its post-offer share structure.

The IPO aims to raise between US$1 billion and US$1.5 billion.

This could potentially value LG Electronics India at about US$13 billion.

If successful, this would be among the largest IPOs in India.