LG Electronics India IPO Sees Massive 13x Subscription Surge

The initial public offering (IPO) of LG Electronics India Ltd, valued at Rs. 11,607 crore, has been oversubscribed by 13 times as it reached its final day of bidding on Thursday. According to data from the NSE, the IPO has attracted interest for 92,96,33,445 shares against 7,13,34,320 shares available.

Qualified Institutional Buyers (QIBs) contributed to a subscription of 27.07 times, while non-institutional investors showed strong demand, subscribing 18.08 times. Retail Individual Investors (RIIs) also participated with 2.89 times subscription rates. Earlier this week, LG Electronics India raised Rs 3,475 crore from anchor investors.

Priced between Rs 1,080 and Rs 1,140 per share, the offering values the company at around Rs 77,400 crore at the upper price band. This IPO marks the second time a South Korean company has entered the Indian stock market, following Hyundai Motors India Ltd's listing last year. Proceeds from the Offer For Sale will benefit the parent company in South Korea, with LG Electronics India not receiving any direct funds.

(With inputs from agencies.)