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₹1,140 - 1,140
LG Electronics India Ltd
Consumer DurablesIPO
₹1,140 - 1,140
We manufacture and sell major home appliances and consumer electronics products in India. We sell products to B2C and B2B consumers in India and outside India. We have two business segments, comprising: (i) home appliances and air solution division covering the sale of products such as refrigerators, washing machines, air conditioners, water purifiers, dishwashers, microwave ovens, air purifiers and compressors, among others; and (ii) home entertainment division covering the sale of products such as televisions, monitors, interactive displays and information systems. We also offer installation services, and repairs and maintenance services for all our products.
Lot13Min Invest₹14,820Face Value₹10Issue Size₹11,607 CrOffer for Sale₹11,607 CrListing Price₹1,715CMP₹1,611
Timeline
7 Oct
Bidding opens
9 Oct
Bidding closes
10 Oct
Allotment
13 Oct
Refund & demat credit
14 Oct
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹11,607 Cr10.18 Cr shares
Offer for Sale₹11,607 Cr
Face Value₹10
Lot Size13 shares
ReservationQIB 50% · NII 15% · RETAIL 35%
Application Sizes
Retail₹14,8201-13 lots
sNII₹2,07,480from 14 lots
bNII₹10,07,760from 68 lots
Managers & Registrar
Lead ManagerMorgan Stanley India Company Pvt Ltd
Co-ManagerJ.P.Morgan India Pvt Ltd, Axis Capital Ltd, BofA Securities India Ltd, Citigroup Global Markets India Pvt Ltd
RegistrarKFin Techologies Ltd
Ownership & Proceeds
Offer for Sale
Selling ShareholderShares OfferedAmt ₹ CrLG Electronics Inc.PRMTR10,18,15,85911,607.01Total10,18,15,85911,607.01
Shareholding
CategoryPre IPOPost IPOPromoter Group100%85%Public0%15%
Objects of the Issue
- Listing the Equity Shares on the Stock Exchanges
Financials
Profit & Loss
| Financial Year | FY23 | FY24 | FY25 | FY26 | Latest |
|---|---|---|---|---|---|
| RevenueCr | 19,865 | 21,352 | 24,367 | 24,605 | 25,575 |
| Operating ProfitCr | 1,899 | 2,225 | 3,110 | 2,408 | 2,593 |
| OPM% | 9.6 | 10.4 | 12.8 | 9.8 | 10.1 |
| PBTCr | 1,820 | 2,037 | 2,963 | 2,300 | 2,486 |
| PATCr | 1,348 | 1,511 | 2,203 | 1,685 | 1,825 |
| EPS | 20 | 22 | 32 | 25 | 27 |
Balance Sheet
| Financial Year | FY23 | FY24 | FY25 | FY26 | Latest |
|---|---|---|---|---|---|
| Equity CapitalCr | 113 | 113 | 679 | 679 | - |
| ReservesCr | 4,243 | 3,659 | 5,291 | 6,987 | - |
| BorrowingsCr | 318 | 370 | 428 | 459 | - |
| Fixed AssetsCr | - | - | 1,329 | 1,561 | - |
| Total AssetsCr | 8,992 | 8,498 | 11,517 | 13,636 | - |
Cash Flow
| Financial Year | FY23 | FY24 | FY25 | FY26 | Latest |
|---|---|---|---|---|---|
| Operating Cash FlowCr | 1,871 | 1,665 | 1,654 | 1,721 | - |
| Investing Cash FlowCr | -274 | -20 | -28 | -856 | - |
| Financing Cash FlowCr | -2,561 | -2,185 | -106 | -127 | - |
| Net Cash FlowCr | -964 | -540 | 1,520 | 737 | - |
Strengths & Risks
Strengths · as stated in the DRHP
- Leading market share in the home appliances and consumer electronics industry in India with 1 market share across key product categories.
- Introducing innovative technologies tailored to the needs of the Indian consumers.
- Shaping consumer experience with pan-India distribution and after-sales service network.
- Operational efficiency through strong manufacturing capabilities and localized supply chain.
- Parentage of LG Electronics, which is the leading single-brand global home appliances player in terms of market share by revenue in CY 2024 and strong LG brand.
- Capital efficient business with high growth and profitability.
Strategies · as stated in the DRHP
- Build a strong foundation to capture long-term growth in India.
- Continue to be a brand of choice for every Indian household across volume and premium market categories.
- Diversify business model to create new consumer value.
Risks · as stated in the DRHP
- We are dependent on LG Electronics, our Promoter, in various aspects of our business, and we pay royalty to them under the License Agreement (defined below). Any adverse change in our relationship with LG Electronics and the companies in the LG Group could have an adverse impact on our business, reputation, financial condition and results of operations.
- The royalty payments made by us to our Promoter under the License Agreement or otherwise may attract regulatory scrutiny or action. As of the date of this Red Herring Prospectus, we have a contingent liability of Rs.3,153.00 million in respect of royalty payments to our Promoter. There is no assurance that such observations will not be raised by the tax authorities in respect of future periods, which could then have an adverse impact on our results of operations.
- It is possible that the Promoter may engage in the same line of activity or business as that of our Company in India which could result in conflicts of interest with us. In particular, Hi-M Solutek India Private Limited, an indirectly wholly owned subsidiary of Promoter provides services only to our Company. However, our Company does not have an exclusive contractual arrangement with Hi-M Solutek. Further, our Directors, Key Managerial Personnel and Senior Management may have interests in our Company in addition to their remuneration and reimbursement of expenses.
- Increases in the prices of raw materials required for our operations could adversely affect our business and results of operations.
- Our top-five suppliers and top-10 suppliers contributed 22.08% and 32.25% of our total purchases of raw materials, including components, in the three months ended June 30, 2025, respectively. Further, we source certain raw materials from suppliers in select countries outside India. Any interruption in the availability of raw materials due to geopolitical uncertainties, shortages or supplier misconduct, among other reasons, could adversely impact our business operations.
- The Framework Agreement is valid unless terminated by either our Company or our Promoter, LG Electronics, in accordance with the terms of the Framework Agreement, by providing a 30 day prior written notice to the other party. If LG Electronics terminates this agreement with us, it would impact the Group Transactions and Existing Arrangements (defined below), which in turn will materially and adversely impact our business, reputation, prospects, financial condition and results of operations.