LG Electronics IPO witnessed a strong investor demand on the last day of public bidding. As per the latst update on the official website of NSE, LG Electronics IPO was oversubscribed by 54 times.
With the surge in grey market premium (GMP) at around 26 per cent over the upper band, business analysts are expecting a significant listing gain when LG Electronics gets listed on both NSE and BSE.
With an issue size of 11,607 crore, Investors who are interested in bidding for the LG Electronics IPO can submit their application for a minimum lot size of 13 shares at an investment of Rs 14,040.
The last date for the bidding is October 9, with the allotment dated tentatively fixed on October 10 and the listing to take place on October 14.
As per official sources, Qualified Institutional Buyers subscribed 95.76 times their allotted share. Meanwhile, Non-Institutional Investor and Retail Individual Investor subscribed 21.19 times and 3.23 times their allotted share.
About the IPO:
LG Electronics IPO is an offer-for-sale (OFS), and the company will not receive any proceeds from the offer. The primary objective of the offer is to achieve the benefits of listing the equity shares on the stock exchanges, which in turn would enhance the company's visibility and brand recognition.
As per the firm, listing will also provide liquidity to the existing shareholders and create a public market for the company's shares in the country.