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.
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.
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.
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.
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.
'...aggressive pricing amid volatility, but these are exceptions.'
'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.
Over 60 companies are ready to launch IPOs in the coming months.
Fundraising momentum is expected to accelerate further in the New Year, potentially surpassing 2024's record figures
LG Electronics India on Tuesday made three movements in its management. The company appointed Moon B Shin as deputy managing director at LG Electronics India.
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.
To enjoy 4G on move, customers just need to upgrade to a 4G SIM available at stores.
The sub-$100 smartphone market is dominated by Google's Android operating system, which has lower licensing costs, and runs cheaper hardware.
Tribunal ruling in I-T's favour may open floodgates to claims against other MNCs.
Could launch high-end models once 4G technology picks up in India.
Market leader with 20.6% share in the air conditioning segment.
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.
The duty reduction and work towards the goal of GST has helped industry to remain competitive in the market.
Korean electronics giant LG will re-enter the laptop business in India with plans to launch mini notebooks by the end of this year.
The smartphone --LG GM 730-- is priced at Rs 24,000 and is based on Qualcomm's chipset and also with Windows mobile and touch screen that will offer faster email setup and download.
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.
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.
Consumer electronic goods manufacturers are moving from 'Made in India' to 'Designed for India' products.
Indeed, where other industries complained of poor demand, festival season sales for consumer electronics grew 30-35 per cent year on year, boosting average growth for the year from 7-8 per cent to 10 per cent. In fact, it was the durable sector which drove industrial growth of 4.8 per cent in September.
P N Dhoot wins 'Man of Electronics' award
The industry is expecting double-digit growth on a year-on-year basis, helped by a possible price correction after softening of raw material inputs and factors such as positive sentiments, pent up demand and improving economic conditions. Besides, a shift in consumer behaviour from price consciousness towards technologically advanced premium products with quality, value proposition and safety aspects leading to a rise in demand for home automation products is making the industry upbeat. With the government's production linked incentive (PLI) scheme for white goods, which has witnessed a committed investment of Rs 4,614 crore, in place, many manufacturers are gearing up to make the most out of the opportunity as well as take steps towards reducing their dependency on imports and make products more affordable.
Consumer electronics major LG Electronics on Monday said the company would start manufacturing CDMA handsets in India next year and also plans to scale up production capacity of GSM mobile phones to 10 million from current one million by 2010.
LG Electronics India Ltd on Thursday said it was planning to manufacture laptops at its proposed greenfield plant at Ranjangaon near Pune.
Consumer electronics company LG Electronics India Ltd on Tuesday signed an agreement with the Maharashtra government to set up its second greenfield facility at Ranjangaon.
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