LG Electronics is planning to launch its India unit’s IPO in the week starting October 6, aiming to raise about 115 billion rupees (US$1.3 billion), according to sources familiar with the matter.

The deal is expected to value the business at roughly US$9 billion, down from the US$15 billion target set in December.

The India subsidiary received regulatory approval for its updated draft red herring prospectus on September 25, and is expected to submit the final document next week.

If completed, this would be India’s third billion-dollar IPO this year.

LG Electronics India first filed to sell a 15% stake in December but postponed the plan earlier due to market volatility.

The company says it will invest about US$600 million over four years in a new Andhra Pradesh factory.

🔗 Source: Bloomberg

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