LG Electronics IPO Day 2 Updates: Issue subscribed 3.32x so far. GMP hints 26% listing pop. Check key details

LG Electronics IPO Day 2 Updates: LG Electronics IPO subscription status was 3.32x on day 2. The retail portion was subscribed 1.90 times, and NII portion has been booked 7.60x, Qualified Institutional Buyers (QIBs) portion received 2.59 times bids. The employee portion booked 4.11 times.

The company has received bids for 23,70,85,836 shares against 7,13,34,320 shares on offer, at 17:00 IST, according to data on BSE.

LG Electronics IPO had a slow start but gained momentum towards the end of the first day, eventually getting fully subscribed. By the end of day one, the LG IPO subscription status was at 1.04x. The retail portion saw an uptake of 81%, whereas the Non-Institutional Investor (NII) segment was much more popular, being booked 2.31x. Qualified Institutional Buyers (QIBs) showed a more cautious approach, with only 49% of their portion bid for. The employee portion of the LG Electronics IPO was subscribed 1.89 times.

The IPO for LG Electronics India Ltd, a subsidiary of the South Korean conglomerate, is set to open for subscription from October 7 and will close on October 9. LG Electronics IPO is entirely an offer-for-sale (OFS) of 10.18 crore shares, which amounts to about 15% of the stake held by LG’s parent company. Since the IPO is a complete OFS, LG Electronics India will not benefit from any proceeds; the funds will go directly to its parent company.

As a leading player in the home appliances and consumer electronics sectors, LG Electronics India caters to both B2C and B2B customers, offering a wide range of products including washing machines, refrigerators, LED TV panels, inverter air conditioners, and microwaves. The company has manufacturing facilities located in Noida (Uttar Pradesh) and Pune.

(Stay tuned for more updates)