LG Electronics' India arm files for IPO

Reuters12-06

UPDATE 1-LG Electronics' India arm files for IPO

Updates with details and background from paragraph 2 onwards

Dec 6 (Reuters) - South Korea's LG Electronics' 066570.KS Indian unit filed for an initial public offering $(IPO.UK)$ on Friday, with the parent firm selling 101.8 million shares.

IPO for the company, which sells washing machines and refrigerators, is valued at 152.37 billion rupees ($1.80 billion), as per a Moneycontrol report, ranking the IPO among the top five in the country this year.

Morgan Stanley, J.P. Morgan, BofA Securities and Citi are among its lead bookrunning managers.

LG Electronics competes with Whirlpool of India WHIR.NS, Samsung's 005930.KS India unit among others in the domestic market.

($1 = 84.6650 Indian rupees)

(Reporting by Manvi Pant in Bengaluru; Editing by Shailesh Kuber and Janane Venkatraman)

((Manvi.Pant@thomsonreuters.com; +918447554364;))

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