LG Electronics India's Blockbuster IPO: A Historic 54.02x Subscription Success

LG Electronics India witnessed an overwhelming response to its initial public offering (IPO), with subscriptions soaring 54.02 times the offered shares on the final bidding day. The strong interest was primarily from institutional buyers, showing a hefty 166.51 times subscription in their allotted category.

The impressive Rs 11,607 crore IPO highlights the eager interest in the market, particularly with 3,85,33,26,672 bids received against 7,13,34,320 shares offered as per National Stock Exchange data. Retail investors showed moderate participation, subscribing 3.54 times, while non-institutional investors marked a 22.44 times interest.

Despite the IPO's success, the financial gains will not directly benefit LG Electronics India as proceeds from the fully Offer For Sale (OFS) issuance will flow to the South Korean parent company. The company's market debut is anticipated for October 14 following the IPO's conclusion with leading financial institutions managing the process.

(With inputs from agencies.)