LG Electronics IPO Day 1 LIVE: The initial public offering (IPO) of LG Electronics India Ltd, the Indian subsidiary of South Korea’s LG conglomerate, is set to open for subscription on October 7 and will close on October 9. LG Electronics IPO price band has been established at ₹1,080 to ₹1,140 per share, which values the company at approximately ₹77,400 crore at the upper price point.
LG Electronics IPO GMP today is ₹318. This indicates LG Electronics share price were trading at a premium of ₹318 in the grey market, according to investorgain.com.
LG Electronics IPO is entirely an offer-for-sale (OFS) of 10.18 crore shares, representing about 15% of the stake held by the South Korean parent company. As the public issue is fully an OFS, LG Electronics India will not receive any proceeds from the IPO; instead, the funds raised will go to its parent company.
LG Electronics India is a prominent player in the home appliances and consumer electronics sectors, catering to both B2C and B2B customers domestically and internationally.
The company offers a range of products, including washing machines, refrigerators, LED TV panels, inverter air conditioners, and microwaves. It operates manufacturing units located in Noida (Uttar Pradesh) and Pune.
(Stay tuned for more updates)
