Soaring on final bids, LG Electronics India IPO sparks frenzy, pushing GMP sky-high as subscriptions cross 54x.
LG Electronics India’s three-day IPO has been massively oversubscribed, receiving bids for over ₹385 billion shares against ₹71.3 million shares on offer, translating into a 54-times subscription, according to NSE data.
The non-institutional investor portion saw 22.44 times subscription, retail individual investors (RIIs) subscribed 3.54 times, and qualified institutional buyers (QIBs) oversubscribed 166.51 times. Earlier, the IPO collected ₹34.75 million from anchor investors.
Shares are commanding a grey market premium (GMP) of 26–27%. Investors gain quoted a GMP of ₹310 per share, indicating a potential listing gain of 27.19%, while IPO Watch reported a GMP of 26.31%.
The IPO, priced between ₹1,080 and ₹1,140 per share, will close on October 9, valuing the company at around ₹774 billion at the upper band. Allotment is expected by October 10, with the listing scheduled for October 14.
This marks the second South Korean company to enter the Indian stock market, following Hyundai Motors India Ltd last October.
LG Electronics India is a leading player in home appliances and consumer electronics, serving both B2C and B2B customers domestically and internationally. The company manufactures and sells products such as washing machines, refrigerators, LED TVs, inverter air conditioners, and microwaves, with manufacturing units in Noida (UP) and Pune. It also offers installation, repair, and maintenance services for all products.
