The initial public offerings (IPOs) of Tata Capital Ltd and LG Electronics India Ltd continued to draw strong investor response in the primary market, with both issues witnessing healthy subscriptions and a rise in grey market premiums (GMPs).
The IPO of non-banking financial company Tata Capital Ltd was subscribed 52 percent on the second day of bidding on Tuesday, receiving bids for 17.44-crore shares against 33.34-crore shares on offer, according to data available with the NSE.
In the grey market, Tata Capital shares were quoting at a premium of about 4 percent. As per data from Investorgain, the stock was commanding a GMP of Rs 12.5 per share, indicating potential listing gains of around 3.83 percent.
Meanwhile, LG Electronics India Ltd, the local arm of South Korea’s LG Group, saw 38 percent subscription on the first day of bidding on Tuesday.
The shares of LG Electronics India were trading at a significant premium in the unofficial market. As per Investorgain, the company’s stock was commanding a GMP of Rs 323, reflecting a potential listing gain of 28.33 percent.
The Rs 11,607-crore IPO of LG Electronics India will close on October 9. The price band has been fixed at Rs 1,080–1,140 per share, valuing the company at around Rs 77,400 crore at the upper end of the price range.
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