New Delhi, Mar 18 (UNI) Home appliances and consumer goods major LG Electronics India has received market regulator Securities and Exchange Board of India (SEBI)'s approval for its initial public offering.

The company, a subsidiary of Korean consumer electronics and appliances giant LG Electronics Inc, filed its IPO papers with SEBI on December 6, 2024, and has now received final observation from the regulator.

The IPO, with a face value of Rs 10 per equity share, is entirely an offer for sale of up to 10.18 crore equity shares by LG Electronics Inc.

LG Electronics holds a dominant market position across various product categories, including washing machines, refrigerators, panel televisions, inverter air conditioners, and microwaves.

Established in 1997, the company has maintained its position as the market leader in India’s home appliances and consumer electronics industry for 13 consecutive years (2011–2023) by value market share in the offline channel, according to a Redseer Report mentioned in the draft red herring prospectus (DRHP).

For fiscal 2024, the company reported a revenue of Rs 21,352 crore as against Rs 19,868.24 crore in fiscal 2023. Profit after tax rose by 12.35% to Rs 1,511.07 crore from Rs 1,344.93 crore during the same period. In the three months ending June 30, 2024, revenue was Rs 6,408.80 crore, with a profit after tax of Rs 679.65 crore.

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