LG Electronics IPO pulls in record ₹4.4L-cr bids

THE $1.3-BILLION MAIDEN share sale by LG Electronics India closed on Thursday, becoming the most subscribed billion-dollarIPO in nearly two decades, as investors rushed to grab a slice of the appliance makerinared-hot IPO market.

- VIVEK KUMAR M

The share sale drew bids worth %4.43 lakh crore ($49.9 billion) at the top end of its price band of 1,080 to 1,140 per share, exchange data showed, making it the most-subscribed large offering since Reliance Power’s IPO in 2008, according to Pranav Haldea, managing director of capital markets data provider PRIME Database.