LG Electronics India has created history. It became India’s first IPO to achieve subscription value of more than Rs 4 lakh crore. The IPO of LG Electronics India has received an overwhelming response across many investor categories. This issue was opened on 6 October. Today was the last day for bidding in the issue. The company is selling 7.13 crore shares in the IPO. In comparison, the company has received bids for 385 crore shares.
LG Electronics India’s IPO was subscribed more than 54 times. In this IPO, investors bid for shares worth Rs 4.4 lakh crore. This made it the most subscribed IPO in terms of value. “Investors liked to bid for LG Electronics’ IPO. They saw good listing gains in this IPO and good growth potential in the short term,” Prashant Tapse, senior vice president at Mehta Equities, told Reuters.
Earlier, the highest subscribed IPO in terms of value was that of Bajaj Housing Finance. This IPO came in September 2024. This was an issue of Rs 6,560 crore. In this IPO, investors had bid for shares worth a total of Rs 3.24 lakh crore. Earlier, in Coal India’s IPO, investors had bid for shares worth Rs 2.36 lakh crore. The IPO of Tata Technologies came in November 2023. In this, investors had bid for shares worth Rs 1.56 lakh crore.
The reserved portion for qualified institutional investors (QIBs) in LG Electronics’ IPO was subscribed 166.51 times. Non-institutional investor category was subscribed 22.24 times. The Retail Individual Investor (RII) segment was subscribed 3.54 times. The brand of LG India has made its strong identity in India. Its accessibility is in the house. The company had fixed the price band of Rs 1,080-1,140 for the shares. The valuation of the company at the upper level of the price band is Rs 77,400 crore.