LG Electronics Rs 11,607-Crore IPO Opens: Check out price band, lot size, other key details

LG Electronics India IPO Opens Today: The much-awaited Rs 11,607 crore initial public offering (IPO) of LG Electronics India opened for subscription on October 7 and will close on October 9. The IPO has a price band of Rs 1,080–1,140 per share, valuing the company at around Rs 77,400 crore at the upper end of the range.

LG Electronics India IPO details

The issue is entirely an offer for sale (OFS) of 10.18 crore shares, representing around 15% stake in the company. This means that the Indian subsidiary will not receive any proceeds from the IPO; the funds will go to the South Korea-based parent company.

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Retail investors can bid for a minimum of one lot (13 shares), requiring an investment of Rs 14,820 at the upper price band. For small non-institutional investors (sNIIs), the minimum application is 14 lots (182 shares) or Rs 2,07,480, while bNIIs can apply for 68 lots worth Rs 10,07,760.

With this listing, LG Electronics will become the second South Korean firm to tap Indian capital markets, following Hyundai Motors India’s IPO last year.

Strong anchor book participation

Ahead of the IPO opening, LG Electronics India raised Rs 3,475 crore from anchor investors.

As per company, the anchor investors round saw robust participation from global participants such as the Government of Singapore, Goldman Sachs, Fidelity Funds, BlackRock Global Funds, Abu Dhabi Investment Authority, and Government Pension Fund Global.

On the domestic side, Institutional investors like SBI Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mutual Fund, and life insurers such as SBI Life, HDFC Life, and ICICI Prudential Life Insurance were also allotted shares.

LG Electronics India IPO: Registrar and BRLM

Morgan Stanley India is the lead book-running manager, while Kfin Technologies acts as the registrar for the issue.

LG Electronics India IPO: Allotment and listing dates

The basis of allotment is expected to be finalised on October 10, and the listing date is tentatively scheduled for October 14 on both the BSE and NSE.

About LG Electronics India

LG Electronics India is the Indian subsidiary of the South Korean electronics giant LG Electronics. The company primarily manufacture and sell appliances and consumer electronics in India.

LG Electronics India IPO: Key details at glance