New delhi: Lg electronics India, A Subsidiary of the South Korean Chaaebol Lg, Has Received Markets Regulator SEBI's Approval for its 15,000 Crore Initial Public Offering (IPO), People Familiarar with the Matter Said On The Mater.
This will be the second south korean company to tap the Indian Stock Market Following The Listing of Hyundai Motors India In Oct Last Year.
In Dec, LG Electronics India Filed Preliminary Papers with SEBI for an iPo wherein the parent company will sell overal over 10.2 Crore Shares, Amouting to a 15% stake. It did not disclose the total issue size, but they said the pegged iPo size is Rs 15,000 Crore.
Since the public issue is completely an offer for saleLG Electronics India will not receive any iPo proceeds. The funds raised will go to the south korean parent.
(Tagstotranslate) Business News (T) Sebi Approval (T) Rs 15000 Crore (T) Offer for Sale (T) Lg India IPO (T) LG Electronics (T) Initial Public Offering (T) Hyundai Motors India
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