New Delhi, Sep 30 (IANS) LG Electronics India is set to hit the primary market as its initial public offering (IPO) will open for subscription on October 7.

The anchor book will open for a day on October 6, followed by the public subscription window between October 7 and 9.

The South Korea-based promoter, LG Electronics Inc., will divest up to 10.18 crore equity shares through an offer-for-sale (OFS) route. The IPO will not include any fresh issue of shares.

Since the issue is entirely an OFS, the primary objective of the IPO is to facilitate the share sale by the promoter and to list the company’s equity on the domestic exchanges.

Specifics of the price band have not yet been decided.

Share allotment is scheduled to be finalised by October 10, and the company’s stock will make its tr

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