LG Electronics India IPO: Grab a Piece of the Tech Giant’s Indian Journey

LG Electronics India IPO is an Offer for Sale (OFS) of about 10.18 crore shares by its South Korean parent, LG Electronics Inc. The IPO opens on October 7, 2025, and closes on October 9, 2025, with a price band between ₹1,080 and ₹1,140 per share. The issue size is around ₹11,607 crore, and as it is purely an OFS, no fresh capital is raised by the Indian subsidiary; all proceeds go to the selling Korean parent. The IPO is expected to list on BSE and NSE on October 14, 2025. Retail investors can apply in lots of 13 shares, with a minimum investment of ₹14,820 and can subscribe up to 13 lots (169 shares).

IPO Details and Structure:

▫️IPO Type: Pure Offer for Sale (OFS) by LG Electronics Inc., South Korean parent

▫️Total Shares Offered: 10.18 crore equity shares

▫️Issue Size: ₹11,607 crore

▫️Price Band: ₹1,080 to ₹1,140 per share

▫️Lot Size: 13 shares per lot

▫️Listing Date: October 14, 2025

▫️Underwriters: Morgan Stanley India, JPMorgan India, Axis Capital, BofA Securities, Citigroup Global Markets.

Use of IPO Money

Since this IPO is an OFS, LG Electronics India itself will not receive any fresh capital. The full proceeds from the IPO will go to the parent company. The Indian subsidiary is thus not raising funds directly for expansion or working capital through this issue. However, the parent company may reinvest IPO proceeds into the Indian arm or other strategic uses, but that remains at the parent's discretion.

Offer for Sale (OFS) Details

▫️OFS shares represent about 15% of the post-IPO equity stake of the Indian subsidiary held by the Korean parent.
▫️The OFS reduces the parent's stake in LG Electronics India by roughly 15%.
▫️No fresh shares are issued; it is a sale of existing shares held by the parent.

Company Financials (Last 5 Years):

▫️LG Electronics India is investing ₹5,000 crore in a new manufacturing plant at Sri City, Andhra Pradesh — its third manufacturing facility in India and three times larger than existing plants.
▫️Land allotted: 247 acres
▫️Expected to create 1,495 jobs
▫️Production to begin in late 2026 with air conditioners, later adding refrigerators and washing machines by 2029
▫️This facility will significantly boost production capacity and export potential.

Market Position and Product Revenue Mix (Q1 FY26)

Product	Revenue Contribution (%)
Refrigerators	34.59
Air Conditioners	20.40
Washing Machines	18.48
Televisions	16.71
Others	Remaining portion

LG Electronics India’s portfolio is led by refrigerators, which contribute nearly 35% of revenue, followed by air conditioners and washing machines. Televisions also make up a significant share, reflecting LG’s leadership in multiple consumer segments and its ability to balance product diversification with specialization.

Peer Comparison: Market Cap and Revenue (India-focused)

Company	Market Cap (₹ Crore)	Revenue FY25 (₹ Crore)	Net Profit FY25 (₹ Crore)
LG Electronics India	77,380	24,367	2,203
Havells India	94,231	21,778	1,470
Voltas	45,450	15,412	834
Blue Star	39,367	11,968	591
Whirlpool India	15,156	7,919	363
Samsung India	Parent market cap ~₹36.37 lakh crore; India revenue est. ₹1,00,000+ crore (2024)	~100,000+ crore (FY24 est.)	Not separately listed

LG Electronics India outpaces most domestic peers on both revenue and profit, with only Samsung’s massive India revenue and Havells’ market cap exceeding its own. This highlights LG’s robust growth in India’s consumer durables market, positioning it as the largest listed appliances company, while Samsung’s scale reflects its leadership in both mobiles and appliances.

Competitor Product Market Shares Overview

Company	Product Focus	Market Share / Strength Highlights
LG Electronics India	Refrigerators, ACs, TVs, Washing Machines	Market leader in refrigerators, ACs, washing machines; #1 offline retail network
Samsung India	Smartphones, Smart Appliances, TVs	Leading premium smartphone brand; rapidly growing AI-enabled appliance share
Havells India	Electricals, Fans, Kitchen Appliances	Leading in electricals and premium kitchen appliances
Voltas	Air Conditioning and HVAC	Strong B2B and commercial HVAC presence
Blue Star	Cooling, Commercial Refrigeration	Niche strength in B2B cooling and water purifiers
Whirlpool India	Washing Machines, Refrigerators	Strong presence in washing machines and refrigerators

LG holds top market share in key appliance categories and enjoys the largest offline retail presence, giving it a competitive edge in both urban and tier-2/tier-3 cities. Samsung leverages its mobile dominance while rapidly building a strong brand in smart appliances. The other peers each thrive in their respective niches, offering specialized products and regional strengths.

Summary for Investors:

LG Electronics India offers a strong IPO opportunity with dominant market share, robust financials, and a large expansion plan. Its competitors span diverse segments with Havells leading in electrical appliances, Voltas and Blue Star excelling in air conditioning and cooling, Whirlpool strong in washing machines, and Samsung India holding a commanding position especially in smartphones and rapidly growing smart appliances.

The IPO’s OFS structure monetizes the parent’s stake while the Indian subsidiary focuses on premiumization, export growth, and capacity expansion.