The initial public offering of LG Electronics India Ltd received 54.02 times subscription on the final day of bidding on Thursday, driven by overwhelming participation from institutional buyers.
Sri City in Andhra Pradesh is dubbed the "Cooling City" of India, accounting for nearly 40 per cent of the air conditioners (ACs) manufactured in the country. On Tuesday, this industrial hub added one more feather to its cooling credentials. Carrier Air Conditioning and Refrigeration Ltd, the Indian arm of the oldest AC company in the world, Carrier Global, signed a deal to invest around ~1,000 crore for a new manufacturing unit at Sri City.
LG Electronics India made a dazzling market debut on Tuesday, ending 48 per cent higher than its issue price and surpassing its South Korean parent in market value.
LG Electronics India saw its net profit decline by 27.3 per cent due to margin pressures witnessed in the second quarter. Its net sales in the quarter marginally rose 0.9 per cent to Rs 6,170.4 crore in the July-September quarter.
The primary market is set for a busy week as two major companies, Tata Capital Ltd and LG Electronics India Ltd, gear up to launch their initial public offerings (IPOs), collectively worth more than Rs 27,000 crore.
The milestone crowns a record year for the domestic primary market where IPO mobilisation is set to cross Rs 1.7 trillion.
'The first time India has seen two consecutive blockbuster IPO years.'
ICICI Prudential Asset Management Company has set a price band of Rs 2,061- Rs 2,165 per share for its Rs 10,600-crore initial public offering (IPO) that will open on Friday. At the upper end of the band, the country's largest asset manager will command a valuation of Rs 1.07 trillion.
'...aggressive pricing amid volatility, but these are exceptions.'
For LG Electronics India, the Rs 11,607 crore initial public offering (IPO) is not just a fundraising exercise. The company's senior executives describe it as a step towards becoming "future-ready", showcasing financial strength while preparing for the next phase of growth in a market they see as still underpenetrated.
The domestic initial public offering (IPO) market is experiencing a significant surge, fuelled by the financialisation of savings, digital ease of investing, and expanding participation from both retail and institutional investors, investment bankers said on Wednesday.
With several $500 million-plus deals in the pipeline -- including ICICI Prudential AMC, Lenskart, PhonePe, Groww, PhysicsWallah, Meesho, Pine Labs, and Zepto -- investment bankers look poised for another year of hefty bonuses in 2025.
More than a third of 83 mainboard IPOs this year ended their debut sessions in the red, with losses of up to 35 per cent.
Dalal Street is buzzing with excitement, as some of the most-awaited IPOs are gearing up to hit the market. While some of these big companies are planning to join the stock exchanges towards the end of 2025, others are likely to be available for trading by the first half of 2026.
Trading sentiment in the equity market will be guided by macroeconomic data announcements, global trends and quarterly earnings from IT major TCS this week, analysts said. Stock markets would also be tracking trading activity of foreign investors who remained net sellers of Indian equities in September.
'If not bullish, volatility should be minimal.'
Many high-profile IPOs in India since 2021 have destroyed investor wealth due to overvaluation, weak business models, and post-listing disinterest, turning 1 lakh investments into as little as 3,500.
The Indian unit of South Korea's LG Electronics Inc. plans to double its market share in the growing refrigerator segment in 2003 by launching a slew of new models, a senior official said on Monday.
Over 60 companies are ready to launch IPOs in the coming months.
Consumer durables major LG Electronics expects nearly 33 per cent rise in net profit to Rs 180 crore (Rs 1.80 billion) this year over a sales turnover of Rs 4,500 crore (Rs 45 billion), a senior company official said on Thursday.
Fundraising momentum is expected to accelerate further in the New Year, potentially surpassing 2024's record figures
India's second-largest passenger vehicles firm will be valued at Rs 1.59 trillion at the top-end of the price band of Rs 1,865-Rs 1,960.
The government on Thursday imposed import restrictions on laptops, tablets, all-in-one personal computers, ultra small form factor computers, and servers with immediate effect. The Directorate General of Foreign Trade (DGFT) in a notification said exemption from import licensing is provided up to 20 items per consignment for R&D, testing, benchmarking and evaluation, repair and return and product development purposes.
The government on Thursday tweaked curbs on imports of laptops and computers as it allowed importers to bring in shipments of IT hardware from overseas on a mere 'authorisation' upon detailing quantity and value. The new 'import management system' is aimed at monitoring shipments of laptops, tablets and computers into the country without hurting market supply or creating a cumbersome licensing regime. The announcement is likely to provide relief to companies in the IT hardware segment in India as they had flagged concerns over the imposition of a strict licensing regime for importers.
As many as 15 companies, including Adani Copper Tubes, LG Electronics and Wipro Enterprises, with committed investment of Rs 1,368 crore, have been selected as beneficiaries under the PLI scheme for the white goods sector, the government said on Tuesday. In March, the commerce and industry ministry had reopened the application window for its Rs 6,238-crore PLI scheme for white goods -- air-conditioners (ACs) and LED lights-- with an aim to accommodate more players as several firms had expressed interest in the initiative. Last year, as many as 46 firms, including Daikin, Panasonic, Syska and Havells, with committed investment of Rs 5,264 crore were selected in the first round the scheme.
The royalty payment obligations will be subject to arbitration.
LG Electronics announced on Monday that it is closing its mobile business unit. The decision was approved by its board of directors. LG's strategic decision to exit the incredibly competitive mobile phone sector will help the company focus resources in growth areas such as electric vehicle components, connected devices, smart homes, robotics, artificial intelligence and business-to-business solutions, as well as platforms and services.
Starting with a family, which had a dealership of Bajaj Auto's scooters, to becoming the owner of a household name in consumer appliances who could afford to have Bollywood superstar Shah Rukh Khan as the brand ambassador, Venugopal Dhoot's is a story of an aggressive small town businessman's pursuit to be on the top. Now arrested in connection with the ICICI Bank loan fraud case, Venugopal Dhoot during his heydays was not the one to simply sit on small achievements like Videocon becoming the largest television set manufacturer in India.
In a strategic move, LG Electronics has elevated K R Kim, managing director, LG Electronics India to the position of president of South West Asia LGE.
The company said it has tied up with Indian content providers like Ndtv.com, Hungama.com, Indiatimes.com and Zapak.com for local Indian content.
"As part of our mixed product strategy, we are focusing on mid and high-end phones. Of the 40 new models that we are lining up for the domestic market, 10 to 12 models will be 3G-powered with a price tag of between Rs 8,999 and Rs 35,000," Chopra told mediapersons here on Thursday.
LG Electronics is planning to introduce new products and also make India a "pilot market" for its home appliances business.
LG Electronics will also spend Rs 50 crore (Rs 500 million) on advertising and marketing activities to spread awareness on health care among the public this year.
From trucks lined up and waiting in the area to local vendors, the scenes tell a story of livelihoods stalled.
Korean consumer durables maker LG Electronics on Thursday said it will hire around 4,000 people in India in next three months to enhance its after-sales services in the air conditioner segment.
Last month Samsung said that it will launch smartphones with curved display in October.
Electronics, IT goods makers HCL Infosystems, HP, LG Electronics and Zenith are raising prices of personal computers (laptops and desktops), LCDs and plasma TVs, and IT peripherals for the first time this year by as much as 13 per cent to offset higher cost of inputs triggered by a falling rupee. The move may nudge inflation further crimping consumer spending.
With their seven-year association coming to an end after the World Cup, International Cricket Council's sponsors such as LG Electronics, Pepsi and Hero Honda seem to be having second thoughts on renewing the deal.
South Korea's LG Electronics unveiled a revamped version of its large-screen smartphone G Pro on Thursday, hoping it will help propel the company to the No. 3 spot in global smartphone sales this year.
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