LG Electronics India IPO Day 3: Subscription nearing 50x with bids close to ₹4 lakh crore

LG Electronics India has become the most subscribed "large" Indian IPO, as its bidding continues on the final day of its three-day initial public offer (IPO).

By definition, we are considering large IPOs to be those, which are of ₹10,000 crore or bigger in size.

LG Electronics India is the third-biggest IPO of 2025 so far, following HDB Financial and Tata Capital, which closed for subscription on Wednesday.

The ₹11,607 crore IPO has received healthy investor interest over the first two days, with the issue being fully subscribed on the first day of bidding itself, and the subscription increased on the second day.

As of 3:45 PM on the final day of bidding, the issue is subscribed 47.67 times, with bids being placed for 340 crore shares, in comparison to the 7.13 crore shares on offer. Institutional investors have now placed bids worth over ₹2 lakh crore in the IPO.

The portions reserved for retail investors, non-institutional investors and qualified institutional buyers (QIBs), all saw full subscription of the shares reserved for them.

The retail investor portion is subscribed 3.4 times so far, with bids for 12 crore shares, in comparison to the 3.55 crore shares on offer.

Non-institutional investors (NIIs) were leading the subscription of the IPO, with the portion being reserved for them being subscribed over 22.1 times. Non-institutional bidders have placed bids for 33.72 crore shares, more than the 1.52 crore allotted to them.

Meanwhile, Qualified Institutional Bidders (QIBs) have outbid the NIIs in the subscription so far, with overall subscription of 144 times. Institutions have placed bids for 294 crore shares compared to 2.03 crore shares on offer for them.

In the unlisted market, shares of LG Electronics India were trading 26% higher with a grey market premium of ₹298 per share, which has remained consistent since Wednesday. It must be noted that these are only speculative reports and the original listing price may vary from these rates.

LG Electronics India shares will list on the stock exchanges next week on October 14. The entire issue is an offer for sale, with the parent company LG Electronics Inc selling its stake. Its India unit will not be receiving any proceeds from the issue.

A total of 10.18 crore equity shares were on offer at a price band of ₹1,080 to ₹1,140 apiece, which implies a market capitalisation of around $8.7 billion, or roughly ₹77,000 crore at the upper end.

Prior to the IPO, the company raised ₹3,474 crore from multiple anchor investors. its board had approved the issue of 3.04 crore equity shares to eligible anchor investors at the upper end of the IPO price band of ₹1,140 per share.

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