A Bloomberg report said that LG has tapped banks, including Bank of America Corp, Citigroup Inc, JPMorgan Chase & Co. and Morgan Stanley as arrangers for an IPO that may take place as early as next ye

LG Electronics is considering an IPO of its Indian business, aiming to raise up to $1.5 billion. Banks like Bank of America, Citigroup, JPMorgan, and Morgan Stanley have been appointed for the potential offering.

South Korean parent may seek to raise $1-1.5 billion from the share sale, which could give LG Electronics India Pvt Ltd a valuation of about $13 billion, and may file a prospectus with market regulator SEBI as early as next month.

LG Electronics, a leading South Korean company, is preparing for the initial public offering (IPO) of its Indian subsidiary. The potential IPO could generate up to $1.5 billion. According to Bloomberg, LG has now enlisted prominent banks such as Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co., and Morgan Stanley to manage this process.

Co Ltd will focus more on the business-to-business (B2B) market, whose growth is expected to outpace the consumer market.

LG has tapped banks including Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co. and Morgan Stanley as arrangers for an IPO

While deliberations are still in progress, the final details regarding the size and timing of the offering could change. LG is expected to file a prospectus with India’s stock market regulator as early as next month.