However, it is important to note that these are speculative reports and the original listing price may vary from the GMP rate.
The Indian arm of the South Korean Company has made market history by becoming the first initial public offering (IPO) in the country to cross the ₹4 lakh crore mark in total subscription value. It became the most subscribed IPO in the country whose size is ₹10,000 crore or more.
Most of the other large IPOs above ₹10,000 crore, including LIC, Hyundai Motor India, Paytm, among others, saw overall subscription figures between 1.5x and 3x the shares on offer.The ₹11,607 crore issue, which was fully-subscribed on Day 1 itself, received bids for 385 crore shares against the 7.13 crore shares on offer, translating into an overall subscription of 54.02 times.
At 54 times, LG Electronics India outbid SBI Cards, whose ₹10,354 crore IPO was subscribed 26 times over three days. Bids for the LG Electronics India issue were also more than the bids that Bajaj Housing Finance had received last year, worth over ₹3.2 lakh crore.
The LG Electronics India IPO shares will list on the National Stock Exchange (NSE) and Bombay Stock Exchange on Tuesday, October 14. The entire issue was an offer for sale with a price band of ₹1,080–₹1,140 per share. Parent company LG Electronics India sold stake in the issue, meaning the India unit will not receive any proceeds from the IPO.
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