LG Electronics gets Sebi’s nod to float IPO

New Delhi: LG Electronics India Ltd, a subsidiary of the South Korean chaebol LG, has received markets regulator Sebi’s approval for its Rs 15,000 crore initial public offering (IPO), people familiar with the matter said on Thursday.

This will be the second South Korean company to tap the Indian stock market following the listing of Hyundai Motors India Ltd in October last year.

In December, LG Electronics India filed preliminary papers with Sebi for an IPO wherein the parent company will sell over 10.18 crore shares, amounting to a 15 per cent stake.