LG Electronics India IPO Sees Strong Demand on Day One
LG Electronics India's IPO was fully subscribed on the first day, with total bids surpassing offered shares. The Rs 11,607-crore public offering, set to conclude on October 9, is entirely an offer-for-sale by its South Korean parent. LG's market debut is expected on October 14.
- Country:
- India
LG Electronics India Ltd launched its initial public offering (IPO) with strong interest from investors, hitting full subscription on the first day of bidding. Data from NSE showed bids were received for 7,44,73,685 shares, surpassing the 7,13,34,320 shares on offer, marking a subscription rate of 1.04 times.
Enthusiasm was particularly high among non-institutional investors, with a subscription rate of 2.31 times, while retail individual investors subscribed 81%. Qualified institutional buyers (QIBs) showed a 49% subscription rate. Ahead of the public offer, LG Electronics India garnered Rs 3,475 crore from anchor investors.
The Rs 11,607-crore IPO will close on October 9, with shares priced between Rs 1,080 to Rs 1,140, valuing the company at up to Rs 77,400 crore. The IPO is completely an offer-for-sale, and proceeds will flow to the South Korean parent. LG Electronics India's stock market debut is anticipated on October 14.
(With inputs from agencies.)
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