LG Electronics' India unit files for IPO

South Korea's LG Electronics' Indian unit filed for an initial public offering (IPO) 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, Samsung's India unit among others in the domestic market.