The initial public offering (IPO) of LG Electronics India Ltd will open for subscription on Monday, drawing strong investor interest amid upbeat sentiment in the consumer durables space. The three-day bidding window will close on October 9.
The company has set a price band of Rs 1,080–Rs 1,140 per share for the offer, which comprises an offer for sale (OFS) worth Rs 11,600 crore, representing a 15% stake divestment by the South Korean parent, LG Electronics Inc.
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At the upper end of the price band, the company’s valuation stands at about Rs 77,400 crore.
In the unlisted market, shares of LG Electronics India are commanding a grey market premium (GMP) of Rs 318, implying a potential listing gain of around 28% over the upper price band.
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