LG Electronics IPO allotment LIVE: LG Electronics’ initial public offering (IPO) concluded on Thursday, October 9, witnessing a massive demand from all categories of investors. And now the investor focus is on its allotment status, which is slated to be finalised today.
At the end of the third day, LG Electronics IPO garnered bids for 3,85,32,39,416 shares as against 7,13,34,320 shares on offer, translating into a subscription status of 54.02 times.
The ₹11,607-crore LG Electronics IPO was priced at ₹1,080 to ₹1,140 per share, valuing the company around ₹77,400 crore at the upper end.
LG Electronics IPO was entirely an offer-for-sale (OFS) of 10.18 crore shares by the South Korea-based parent. Since the IPO is entirely an OFS, no proceeds from the stake sale will be received by the company, but will go to its promoter.
After Hyundai last year, LG Electronics is the second South Korean company to list on the Indian stock market.
LG Electronics IPO GMP
LG Electronics IPO GMP today stood at ₹383, its highest ever. Earlier, its GMP touched a peak of ₹323, a day prior to the opening. At the prevailing GMP and the upper end of the IPO price band, LG Electronics share price could list at ₹1523, a premium of 33.60%.
LG Electronics shares are expected to make their stock market debut on October 14.
Track this space for all the LIVE updates on LG Electronics IPO allotment
