The logo of LG Electronics.
Reuters
LG Electronics has paused work on the initial public offering of its Indian unit amid volatility in the local stock markets, Bloomberg News reported on Wednesday citing people familiar with the matter.
The South Korean company has told advisers it may postpone the local unit's IPO and may decide to resume work on it if market conditions improve, Bloomberg News reported, citing sources who asked not to be identified because the talks are private.
"The IPO process is underway, but we cannot comment on the timing at this stage," an LG Electronics official told Reuters on Wednesday, adding that referring to it as a suspension "does not seem appropriate".
The reported pause of plans come at a time when equity market volatility in India has led homegrown e-scooter maker Ather Energy to
cut its fresh share sale size by 15 per cent and slash its target valuation by 44 per cent.