LG Electronics India IPO bids cross ₹4 lakh crore, become most-subscribed ‘big’ Indian issue

LG Electronics India has now become the most subscribed “large” Indian IPO, or an IPO whose size exceeds ₹10,000 crore, outbidding SBI Cards, which held the record for the past five years, with HDB Financial, which had just recently become the second largest IPO of that size.

Overall subscription currently stands at 54x, led by institutional investors, whose share has been subscribed for 166 times the total number of shares on offer. Institutional investors have now placed bids worth over 3.5 lakh crores for the IPO.

On 54 occasions, LG Electronics outbid SBI cards, whose ₹10,354 crore IPO was subscribed 26 times in a three-day period.

Issue	Size (₹Cr)	Subscription (x)
LG Electronics India*	11,706	54
SBI Cards and Payment Services	10,354	26.54
HDB Financial	12,500	4:69 p.m.
Coal India	15,200	15.28
Swiggy	11,327	3.59
PFR	21,008	2.95

As of 4:30 pm on the last day of the auction, investors placed bids worth over ₹4.4 lakh crore for LG Electronics India, coming close to the bids that Bajaj Housing Finance had received last year, worth over ₹3.2 lakh crore.

Most other large IPOs above ₹10,000 crore, including Hyundai Motor India, LIC, Paytm, have seen overall subscription figures of between 1.5 and 3 times the shares on offer.

The non-institutional part is subscribed 22 times, while the individual investors part also saw a subscription greater than 3.5 times the total number of shares reserved for them.

LG Electronics India shares will be listed on the stock exchanges next week, on October 14. The entire issue is an offer for sale, with parent company LG Electronics Inc selling its stake. Its Indian unit will not receive any proceeds from the show.