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IPO-bound LG Electronics India begins work on new $600 million plant
Economic Times
·
2m ago
Medial
LG Electronics India has started building its third plant in Andhra Pradesh, investing $600 million. This facility, located in Sri City near Chennai, will provide direct employment to 1,495 people and create 10,000 indirect jobs. The company's other plants are in Greater Noida and Pune. The IPO for its Indian unit, initially delayed due to market volatility, is now expected in the second or third quarter of fiscal year 2026.
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LG Electronics mulls Indian unit IPO; Bluestone eyes unicorn status
VCCircle
·
1y ago
Medial
LG Electronics is reportedly considering an IPO for its Indian unit, LG Electronics India Pvt Ltd. The IPO, if approved, could potentially raise over $500 million. LG Electronics has enlisted JP Morgan and Morgan Stanley to assess the potential offering. However, discussions are in the early stages, and the plan is subject to change.
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LG Electronics India gets Sebi nod for Rs 15,000 crore IPO
Business Today
·
4m ago
Medial
LG Electronics India has received SEBI approval for a Rs 15,000 crore IPO, comprising an Offer for Sale of over 10.18 crore shares (15% stake). The company reported Rs 64,087.97 crore in revenue. Key firms managing the IPO include Morgan Stanley, J P Morgan India, and others. LG competes with Samsung and Sony, with manufacturing sites in Noida and Pune. In 2024, the Indian IPO market hit a record $20.5 billion, led by Hyundai Motor's $3.8 billion IPO.
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LG Electronics' India unit files for IPO
VCCircle
·
7m ago
Medial
LG Electronics' Indian unit has filed for an IPO, with its parent company planning to sell 101.8 million shares. The IPO is valued at $1.80 billion, making it one of the top five IPOs in India this year. The company, which sells washing machines and refrigerators, competes with Whirlpool of India and Samsung's India unit in the domestic market. Leading bookrunning managers for the IPO include Morgan Stanley, J.P. Morgan, BofA Securities, and Citi.
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LG rewires strategy before hitting IPO switch
Economic Times
·
23d ago
Medial
LG Electronics is restructuring its strategy ahead of a year-end IPO due to declining sales in India during the first half of 2025. The company is reducing in-store sales promoters and enforcing a performance-oriented approach to cut costs. Sales have dropped due to a cooler summer, leading to decreased demand for air-conditioners and refrigerators, vital sales drivers for LG. The IPO, initially planned for early 2025, has been rescheduled for October-November.
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India begins chip journey in just 15 months: MoS IT Rajeev Chandrasekhar
Economic Times
·
1y ago
Medial
In just 15 months, India has made significant progress in the semiconductor industry, with the construction of its first-ever semiconductor plant and the operation of 8 chip designing startups. Rajeev Chandrasekhar, Union Minister of State for Electronics and IT, stated that the opportunities in semiconductor manufacturing in India are immense, and investments will go to states that create an enabling environment and infrastructure. The government aims for India to become a semiconductor nation, following the success of mobile manufacturing in the country. The first India-made chip from the Micron plant is expected in December 2024.
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LG Electronics weighs India IPO to help chase $75 billion goal | Mint
Livemint
·
10m ago
Medial
LG Electronics is considering launching an initial public offering (IPO) for its India business in order to achieve its target of $75 billion in electronics revenue by 2030. CEO William Cho mentioned that an Indian market debut is among the options being considered to revive the company's consumer electronics business. LG's Indian unit has witnessed strong growth, with revenue increasing by 14% in the first half of 2021. LG's potential IPO would take place amidst a flourishing Indian capital market. The company is also looking to expand into new businesses, such as heating, ventilation, and air-conditioning, as well as subscription-based services for home appliances and ad-supported streaming.
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LG Electronics delays India unit IPO on market jitters
VCCircle
·
2m ago
Medial
LG Electronics has postponed its Indian unit's IPO due to market volatility triggered by global trade uncertainties and US tariff concerns. Initially planned for May, the IPO is now expected in the second or third quarter of fiscal year 2025-2026. Despite the delay, LG continues investor engagements, aiming for a strategic market entry. While the Indian market for consumer durables is growing, current market sentiment has affected the timeline and potential valuation of the IPO.
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Bear Robotics, a robot waiter startup, just picked up $60M from LG
TechCrunch
·
1y ago
Medial
LG Electronics has invested $60 million in Bear Robotics, a California-based startup that specializes in AI-powered server robots for restaurants and other venues. These autonomous tray towers on wheels aim to replace waiters. With this investment, LG becomes the largest shareholder in Bear Robotics. This move aligns with LG's shift in focus to growth areas such as smart homes, connected devices, robotics, and artificial intelligence following its closure of the struggling mobile business in 2021. LG aims to develop its robot business into a new growth engine and explore opportunities in the expanding service robot market.
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Meta Reportedly Collaborating with LG for New Mixed-Reality Headset to Compete with Apple Vision Pro
CityLife Capetown
·
1y ago
Medial
Meta, formerly Facebook Reality Labs, is reportedly partnering with LG to develop a new mixed-reality headset to compete with Apple's Vision Pro. The collaboration aims to create a successor to Meta's Quest Pro VR headset, set to launch in 2025. LG Electronics will handle production, with components supplied by LG Display, LG Energy, and LG Innotek. The device is rumored to be named "Meta Quest 4 Pro" and could cost around $2,000. This partnership highlights Meta's commitment to the mixed-reality headset market and competition with tech giants like Apple.
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Tata Electronics to partially resume work at fire-hit iPhone component plant
Economic Times
·
9m ago
Medial
- Tata Electronics to resume operations at fire-hit plant in southern India - Efforts made to identify the cause of the fire at Tata Electronics' Hosur facility - Apple iPhone component production to recommence following the incident - Company spokesperson confirms resumption of some operations since Saturday - Tata Electronics working diligently to investigate the fire incident at the plant
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