An LG Electronics store in Mumbai. (Photo source: Shubhayan Bhattacharya/ NDTV Profit) Show Quick Read Summary is AI Generated. Newsroom Reviewed

LG Electronics India's initial public offering is set to open on Oct. 7 and close on Oct. 9, according to the red herring prospectus filed on Tuesday. Through the IPO, the South Korean parent — LG Electronics Inc. — will offload 10.2 crore shares.

The stake sale by the parent entity will represent 15% of the post-offer stake in the Indian arm — valuing the country's second-largest electronics major at around $12.5 billion.

LG Electronics India received SEBI's nod for an IPO in March. Morgan Stanley India Co., JPMorgan India Pvt., Axis Capital Ltd., BofA Securities India Ltd. and Citigroup Global Markets India Pvt. are the bankers for the

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