The much-awaited Rs 11,607 crore LG Electronics India IPO is now ipen for subscription. You can subscribe to the IPO between October 7-9. The price band has been set at Rs 1,080 – 1,140 per share, valuing the company around Rs 77,400 crore at the upper end of the price band
| LG Electronics India IPO | Key Details |
| Price Band | Rs 1,080-1,140 per share |
| IPO Date | October 7-9 |
| GMP | 28% |
| IPO Allotment date | October 10 |
| Listing date | October 14 |
LG Electronics India IPO: GMP surging ahead
The LG Electronics India IPO GMP has been heading north. According to the latest updates, the GMP has surged over 28% to Rs 322 per share. This indicates a listing at Rs 1,462, considering the upper end of the IPO price band at Rs 1,140 per share. Howeve, one must understand that the GMP is an unofficial indiocator and the actual listing price can be very different.
LG Electronics India IPO: Issue size
The IPO is a book-built issue. It is entirely an offer for sale of 10.18 crore shares. This essentially makes up 15% stake that is being liquidated by the South Korea-based parent.
Since the public issue is completely an offer for sale(OFS), LG Electronics India will not receive any proceeds. It will go to the South Korean parent. LG Electronics becomes the second This will be the second South Korean company to tap the Indian stock market, following Hyundai Motors India IPO last year.
LG Electronics India IPO: Key anchor investors
LG Electronics India has raised Rs 3,475 cr from anchor investors ahead of IPO opening. The anchor book received widespread participation from foreign investors, including the Singapore government, Goldman Sachs, Fidelity Funds, BlackRock Global Funds, Abu Dhabi Investment Authority and Government Pension Fund Global.
Domestic institutional investors, such as SBI Mutual Fund (MF), HDFC MF, ICICI Prudential MF, Kotak MF, SBI Life Insurance Company, HDFC Life Insurance Company, and ICICI Prudential Life Insurance Company have been allotted shares in the anchor round.
LG Electronics India IPO: Lot size, lead manager and registrar
The lot size for applying for the LG Electronics IPO is 13. The retail applicants have to apply for a minimum 1 lot comprising of 13 shares and this equals Rs 14,820. This is based on the upper end of the price band. sNIIs have to apply for a minimum of 14 lots or 182 shares totalling Rs 2,07,480, and for bNIIs it is 68 lots worth Rs 10,07,760.
The lead book running manager for the issue is Morgan Stanley India and Kfin Tech is the registrar of the issue.
LG Electronics India IPO: Allotment and listing
The issue closes on October 9, but the other key date one needs to watch for, in terms of the LG Electronics IPO, is the allotment that is likely to be finalised on October 10 and the tentative listing date for the IPO has been fixed as October 14.
LG Electronics India is a leading player in major home appliances and consumer electronics. The company’s products are sold to both B2C and B2B customers in India and abroad. It also provides installation, repair, and maintenance services for all its products.