South Korean consumer electronics giant LG Electronics has decided to go ahead with the initial public offer of its Indian subsidiary, and its board has approved the sale of 10.18 crore shares in the Indian unit, according to a regulatory filing.

This will translate into a 15 per cent dilution of its stake in its Indian arm, LG Electronics India Ltd, in which it will hold 85 per cent stake post the IPO.

According to the Red Herring Prospectus, the IPO will be open October 7-9, with the anchor book open for bidding on October 6.

The Indian unit is also holding a press conference on Wednesday to announce the initial public offer and the price band.

Investment banking sources said due to the strong investor interest indications are that the company may look for an IPO size in the r

See Full Page