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LG Electronics IPO Draws ₹4.39 Lakh Crore in Bids, Second-Largest in Indian History
LG Electronics IPO Draws ₹4.39 Lakh Crore in Bids, Second-Largest in Indian History
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BTCCSquare news:
LG Electronics India's ₹11,607 crore IPO has garnered an overwhelming response, with bids totaling ₹4.39 lakh crore, marking it as the second-largest IPO in Indian history. The three-day subscription period saw the issue oversubscribed 54.02 times, with Qualified Institutional Buyers leading at 166.51 times, followed by Non-Institutional Investors at 22.45 times and Retail Individual Investors at 3.55 times.
Hong Ju Jeon, MD of LG Electronics India, emphasized the IPO as a testament to decades of consumer trust and a reaffirmation of the company's commitment to India. The success reflects broader Optimism in India's growth and consumption narrative, aligning with a week of significant IPO activity targeting over ₹30,000 crore.
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