Samsung Rival LG Follows In Hyundai's Footsteps, Mulls India IPO: Report

South Korea’s LG Electronics is reportedly considering launching an IPO for its India operations, looking to leverage a strong stock market to reach its goal of $75 billion (6.3 lakh crore) in electronics revenue by 2030.

What Happened: CEO William Cho told Bloomberg that an IPO in India is one of several strategies the company is exploring to revitalise its long-established consumer electronics business. This is the first time the South Korean firm, which is a key competitor to Samsung Electronics, has publicly discussed a potential listing in India.

Cho told Bloomberg Television a listing in India was one of many options to consider. "I understand there's increased interest among global investors. As of now, nothing is confirmed," he added.

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In India, LG is focusing on maintaining rapid growth. In the first half of this year, LG's Indian unit saw its revenue rise by 14% to a record 2.87 trillion won (₹18,108 crore), while its net income jumped 27% to 198.2 billion won (₹1,250 crore).

If the IPO plans materialise, the listing would come at a time when India's capital markets are trading at record highs. So far this year, 189 companies are looking to raise $5.6 billion (₹47,001 crore) through share sales, making it one of the busiest markets globally.

At least 30 IPOs have entered India’s pipeline, driven by strong demand from domestic investors. In a related move, Hyundai Motor Co, a South Korean peer, is planning to raise up to $3.5 billion (₹29,378 crore) through an IPO in India.

"We have been closely monitoring the Indian IPO market and similar industry trends," Cho said, while also noting that LG has not yet determined potential valuations for its Indian unit.

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