IPO of 11,607 LG Electronics crores of 11,607

The initial public offer (IPO) of LG Electronics India LTD, the Indian branch of the LG in South Korea, was fully subscribed to the first day of tender on Tuesday. The three -day emission received offers for 7,44.73,685 shares against 7.13,34,320 actions proposed, translating by a subscription 1.04 times, in accordance with the NSE data.

The part of non -institutional investors was subscribed 2.31 times, while individual retail investors (RIIS) subscribed 81%. The quota for qualified institutional buyers (QIB) experienced 49% subscription.

LG Electronics India raised on Monday 3,475 ₹ ₹ from anchor investors. The IPO of 11,607 crores of 11 years will close on October 9, with a price strip of 1,080 ₹ to 1,140 ₹ per share, evaluating the company at around 77,400 crore at the upper end. This marks the second South Korean company to enter the Indian stock market after the list of Hyundai Motors India Ltd in October of last year.

The IPO is entirely an offer for the sale of 10.18 stocks, representing approximately 15% participation by the parent based in South Korea. Since the public number is entirely a sales offer (OFS), LG Electronics India will not receive any IPOs on the stock market. The funds collected will go to the South Korean parent.

LG Electronics India is a leading player in the main household appliances and consumer electronics. The company’s products are sold to B2C and B2B customers in India and abroad. It also provides installation, repair and maintenance services for all its products. The company manufactures and sells products, including washing machines, refrigerators, LED television panels, inverting air conditioners and microwaves. He has manufacturing units in Noida (UP) and Pune.

In terms of emission allocation, 50% of the IPO is reserved for qualified institutional buyers (QIB), 35% for retail investors and the remaining 15% for non -institutional investors. LG Electronics India is expected to make its stock market debut on October 14.

(With PTI entries)