The IPO of LG Electronics started in the stock market today. There was a spectacular listing of its shares, which resulted in huge profits for the investors. Shares of LG Electronics were listed at a 50% premium on BSE and NSE. The special thing is that the listing was better than the expectations and estimates of analysts. Shares of LG were listed at ₹1,715 on BSE, while they touched ₹1,710 on NSE. The issue price was ₹1,140 per share.
The IPO of LG Electronics opened for subscription on October 7 and the bidding process continued till October 9. The IPO, worth ₹11,607 crore, received an overwhelming response from investors. Till the last day of subscription, it was subscribed a total of 54.02 times. The qualified institutional buyers (QIB) category witnessed the highest subscription of 166.51 times. The non-institutional investors (NII) category was subscribed 22.44 times.
Earning more than ₹7,000 per lot
The company had set the price band of shares under the IPO at ₹1,080 to ₹1,140 per share. The lot size of the IPO was 13 shares. This means that based on the upper price band, investors had to invest a minimum of ₹14,820. Now, calculating profits based on listing gains, investors earned ₹7,457 per lot at the listing price of ₹1,715 on NSE.