LG: South Korea's LG Electronics has chosen banks for a possible IPO of its Indian company. With their help, up to $ 1.5 billion (Rs 12,582 crore) can be raised. According to a Bloomberg report, people familiar with the situation have given this information.

LG chose these banks!

According to sources, LG has lined up banks such as Bank of America Corp., Citigroup Inc., Morgan Stanley, and JPMorgan Chase & Co. for the IPO, which could happen early next year. LG may try to raise $1 billion to $1.5 billion from the share sale, which could value LG Electronics India Pvt. Ltd. at more than $13 billion, according to the sources.

When will LG file the prospectus with the stock market regulator?

According to a Bloomberg report, the sources, speaking on the condition of anonymity, said discussions were still ongoing and details such as the amount and timing of the offering could change. According to the sources, the company could file a prospectus with India's stock market regulator as early as next month. They said that other banks, including local banks, could also be included in it later.

Hyundai Motor Co. plans to sell shares in its local Indian company this year, in what would likely be one of the biggest listings ever in the South Asian country, according to Bloomberg News. An IPO of LG’s Indian operations is among the possibilities being considered by the South Korean corporation as it seeks to reach a $75 billion in electronics sales target by 2030 and revive its consumer electronics sector, according to CEO William Cho in an August interview with Bloomberg Television.