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LG Electronics India
is seeking a valuation of up to 774 billion rupees ($8.71 billion) in its long-delayed initial public offering, tapping into a bustling IPO market with one of India’s largest offerings so far this year.
The appliance maker set a price band of 1,080-1,140 rupees per share, a public filing showed on Wednesday. The three-day share sale opens for bidding on October 7. Large anchor investors will be able to place bids on October 6.
The IPO will raise up to 116 billion rupees ($1.3 billion) at the top of the price range for its Korean parent LG Electronics Inc, which is offloading a 15% stake in the company.
