Korean electronics major LG Electronics said it plans to invest Rs 100 crore (Rs 1 billion) in India in the current calendar year, and also come out with an initial public offering for which no timeframe has been set.
The investment would go towards factory expansion and research and development, among others, K R Kim, managing director, LG Electronics India Limited, told reporters in Bangalore on Thursday.
The seven-year-old LGEIL has a manufacturing plant at Greater Noida near Delhi, and it is currently setting up its second unit at Pune which Kim said would be operational by July this year.
The Pune plant would have a capacity to manufacture 200,000 units each of TVs and refrigerators, he said.
Kim said LGEIL has plans to come out with an IPO in the "near future" but added that no timeframe had been set.
Asked if the IPO is planned to be kicked off after LGEIL achieved a turnover of Rs 10,000 crore (Rs 100 billion), he said one can say so.
For the calendar year 2003, LGEIL made a net profit of Rs 205 crore (Rs 2.05 billion) on 36 per cent higher sales at Rs 4,500 crore (Rs 45 billion). For 2004, the company is expecting a turnover of Rs 7,000 crore (Rs 70 billion), he said.
© 2026