LG India Is Eyeing IPO In Indian Market Amid $75 Billion Sales Target For 2030: Report

LG Electronics, a global supplier of consumer electronics based in South Korea, is considering an initial public offering (IPO) for its Indian division, according to chief executive officer William Cho in an interview.

Recent public issues introduced in India have received a resounding response from investors. More than 150 companies have raised close to USD 5 billion in 2024 so far, according to LSEG data.

Watching the indian IPO market closely

According to Cho, LG Electronics is thinking about going public partly because of the thriving Indian IPO market. "We have been closely monitoring the initial public offerings (IPOs) in the Indian market and keeping an eye on comparable industry developments and IPO cases," he told Bloomberg.

Cho stated that "nothing is confirmed" as of yet, even though the IPO in India 'is one of the many options we can consider.' He also pointed out that the company has not determined the valuation at which it would consider a public offering.

USD 75 billion revenue goal

The CEO of LG Electronics made these comments at a moment when the company announced plans to increase its electronics revenue to 100 trillion won (USD 75 billion) by 2030.

In the most recent fiscal year, 2023, the company recorded USD 65 billion in total revenue.

LG India's financial performance

One of LG's main markets is India, where it faces off against rival South Korean company Samsung Electronics Co. From January to June 2024, its revenue from the nation increased to 2.87 trillion won, a 14 per cent increase over the same period the previous year.

In the first half of 2024, LG's net income from the Indian market increased by 27 per cent year over year to 198.2 billion won.

The first official comment from LG in this regard was made by Cho regarding the company's plans for an Indian IPO. Rumours in the media earlier this year suggested that the company was thinking of launching a public offering in the Indian market.