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LG Electronics Inc. has started roadshows to meet potential investors in the initial public offering of its Indian unit, people familiar with the matter said.

The South Korean company has recently kicked off the process as it moves forward with the listing plans, the people said, asking not to be identified because the matter is private. LG plans a Mumbai IPO this year, Bloomberg News has reported previously.

Representatives for LG Electronics and its LG Electronics India Ltd. unit declined to comment on the roadshows.

Bloomberg has also reported the IPO could raise $1 billion to $1.5 billion and value LG India at as much as $15 billion.

Deliberations are ongoing and details could change, the people said.

According to a prospectus filed in December, LG plans to sell as many as 101.82 million shares. Axis Capital Ltd., Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co. and Morgan Stanley are helping to manage the IPO.

Another South Korean company, Hyundai Motor Co., listed its Indian unit last year, raising $3.3 billion in what was biggest IPO ever in India, helping the country become one of the world’s top markets for first-time share sales.

Hyundai India is trading about 6% below its price on its October debut as enthusiasm about the stock market shows signs of waning. The Sensex Index has retreated in 2025 after nine consecutive years of gains. Meanwhile, major stock gauges in China and Hong Kong have posted double-digit increases.

--With assistance from Yoolim Lee.

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