LG Electronics India's IPO pulls in ₹4 lakh crore
LG Electronics India's IPO just made history, pulling in over ₹4 lakh crore in bids—the highest ever for an Indian IPO.
The offer, open from October 7 to 9, 2024, saw 10.18 crore shares up for grabs at ₹1,080-₹1,140 each.
IPO oversubscribed 54 times
The IPO was oversubscribed 54 times, with more than 385 crore shares bid for—meaning demand was way higher than supply.
The total subscription value reached about ₹4.4 lakh crore, showing just how much excitement this IPO generated.
Who are LG Electronics India?
Since 1997, LG Electronics India has been a big name in home appliances and consumer electronics (think washing machines, fridges, ACs, and TVs).
They've built a strong offline network and are fully owned by South Korea's LG Electronics Inc.
What to expect next?
Before the main IPO even started, anchor investors had already put in ₹3,475 crore, showing strong institutional backing.
Share allotment is set for October 10, and the stock will list on BSE and NSE on October 14, 2024.