LG Electronics is considering putting the initial public offering (IPO) of its Indian subsidiary on hold as volatility in the Indian stock market intensifies.

The South Korean electronics giant said Wednesday that preparations for the listing are still underway, but the final decision will depend on market conditions. “Nothing is finalized at this stage,” the company said. “We are monitoring the market closely and will determine the optimal timing to ensure the company’s value is properly recognized.”

The statement suggests LG Electronics is effectively deferring the IPO plan for now. Bloomberg also reported on Wednesday that the company decided to delay the IPO of its India unit due to the increased uncertainty in the Indian stock market.

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