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Kolkata: LG Electronics IPO that is opening today, October 7, by flagging off the bidding process has already ensured a rousing start to the new issue with an enthusiastic participation from anchor investors and a GMP (Grey Market Premium) that is constantly rising over the past few days. The issue has been designed to raise Rs 11,607.01 crore only through OFS (offer for sale) shares, the proceeds of which will not accrue to the company.

LG Electronics India has already raised Rs 3,475 crore from anchor investors, the list of which has names such as the Singapore government, Goldman Sachs, Fidelity Funds, BlackRock Global Funds, Abu Dhabi Investment Authority and Government Pension Fund Global, SBI Mutual Fund (MF), HDFC MF, ICICI Prudential MF, Kotak MF, SBI Life Insurance Company, HDFC Life Insurance Company and ICICI Prudential Life Insurance Company. The shares have been placed at Rs 1,140 each.

LG Electronics IPO GMP

According to investorgain, LG Electronics IPO GMP stood at Rs 318 on the morning of October 7. At this level it signaled a listing gain of 27.89%. Significantly the GMP has been rising constantly — Rs 145 on October 1, Rs 146 on October 2, Rs 175 on October 3, Rs 228 on October 4, Rs 250 on October 5 and Rs 318 on October 6. Though it indicates very high investor enthusiasm, GMP is an unofficial gauge that changes with time and does not guarantee anything — listing gain or loss.

LG Electronics price band, lot size, dates

LG Electronics IPO price band is Rs 1080-1140. A retail investor has to bid for a minimum of 134 shares, for which application amount of Rs 14,820 investment is needed. The smallest lot size for sNII category is 14 lots and that for the bNII category is 68 lots.

The allotment date is October 10. The date for initiating refunds is October 13, and on the same day shares will be credited to the demat account of successful applicants. The date of listing is October 14. KFin Technologies is the registrar of the IPO while the lead managers are Citigroup, Axis Capital, BofA Securities, Morgan Stanley and JP Morgan.

(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds and crypto assets.)