Nicholas Moreau
As per the exchange, bids for 3.85 billion shares were received by the company. The price range for the IPO was established at 1,080-1,140 rupees. At the highest price threshold, demand would reach 4.43 trillion rupees ($49.9 billion), as reported by Reuters.
The original offering of 71.3 million shares was fully subscribed in just a few hours after the IPO.
The IPO aims to generate $1.3 billion, placing the company's value at $8.7 billion.
Shares of LG Electronics India will start trading on October 14.
The IPO is being organized by Axis Bank Ltd. along with the Indian divisions of Morgan Stanley, JPMorgan Chase & Co., BofA Securities Inc., and Citigroup Inc.
LG India is a key competitor in the Indian market for home appliances and consumer electronics.
source: reuters.com
The original offering of 71.3 million shares was fully subscribed in just a few hours after the IPO.
The IPO aims to generate $1.3 billion, placing the company's value at $8.7 billion.
Shares of LG Electronics India will start trading on October 14.
The IPO is being organized by Axis Bank Ltd. along with the Indian divisions of Morgan Stanley, JPMorgan Chase & Co., BofA Securities Inc., and Citigroup Inc.
LG India is a key competitor in the Indian market for home appliances and consumer electronics.
source: reuters.com
