LG Electronics Is Latest to Test India’s Roaring IPO Market

The Indian unit of South Korea-based LG Electronics Inc. filed for an initial public offering, the latest among foreign companies looking to tap investors in the South Asian country’s booming market.

LG Electronics will sell as many as 101.82 million shares of the Indian unit in the IPO that is likely to be one of the biggest in Indian history. The sale will constitute 15% of the post-offer shares of the unit, according to a draft red herring prospectus filed with the market regulator.

LG may seek to raise $1 billion to $1.5 billion from the share sale, likely giving ...