LG Electronics India IPO GMP increases to 22% before opening the problem for the subscription

The shares of LG Electronics India negotiated at a 22% bonus on the non -listed market, according to Gray Market Premium Reports. The GMP is currently being 250 ₹ per share before the opening of the program for the subscription on Tuesday, October 7.

The initial public offer of 11,607 sterling books will end for the subscription on October 9 and the shares will be listed on the scholarships on October 14.

The problem is a complete sales offer (OFS), with the parent company LG Electronics Inc Sale. Indian unity will not receive any product from the issue. Up to 10.18 stocks are proposed.

The price strip of 1,080 ₹ to 1,140 ₹ per share implies a market capitalization of approximately $ 8.7 billion, or around 77,000 crores at the upper end.

The company raised 3,474 crosses of several anchor investors

Before its IPO. Its board of directors had approved the emission of 3.04 equity equity shares to anchor investors eligible at the upper end of the IPO price strip of 1,140 ₹ per share.

LG Electronics told CNBC-TV18 that it had to change production, extend its B2B activities and direct the premiumization of consumer electronics in India.

The company also deploys a third manufacturing plant in the city of Sri, Andhra Pradesh and introduces new products in level 2 and 3 cities.

“Our plan is that by the end of next year, near Diwali, we start production on our first line. There will be an investment in phase, and by 2029, we will finish the project. In particular, this plant is much larger than our two existing factories – less than three times larger,” said Sanjay Chitkara, sales director of LG Electronics India, CNBC -TV18.

LG Electronics is the third largest Introduction on India this year, after the 15,500 issue is crossed ₹ Currently ₹ of Tata Capital, and the IPO of HDB financial stock market of 12,500 crores earlier this year.

It should be noted that GMP reports are speculative and that the actual registration price could differ from these rates.