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LG to raise equity in Indian arm
NEW DELHI,
JULY 19.
The South Korea-based LG Electronics will raise equity in its Indian software arm LG Soft India to 89 per cent from 70 per cent at present, following a Government approval.
The Government is believed to have cleared a proposal of LG Electronics Inc for transfer of 14 per cent of the paid up capital of its Indian unit LG Soft India from IL&FS Trust Company, sources said. After the proposed transfer, LG Soft India would have a foreign equity of 89 per cent amounting to Rs. 9.94 crores from 75 per cent now which amounted to Rs. 8.40 crores, sources said.
PTI
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