LG Electronics India IPO: Check application status, allotment odds, latest GMP & more

LG Electronics is likely to finalize the basis of allotment of its shares on Friday, October 10. Applicant bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate either over the weekend or latest by Monday, October 13. The electronics and consumer durable player saw a historic response from the investors.

The IPO of LG Electronics India was open for bidding between October 07 and October 09. It had offered its shares in the price band of Rs 1,080-1,140 per share with a lot size of 13 shares. The company raised a total of Rs 11,607 crore via IPO, which was entirely an offer-for-sale (OFS) of up to 10,18,15,859 equity shares by its South Korean promoter LG Electronics Inc.

The issue was overall subscribed a solid 54.02 times fetching over 65.06 lakh applications, fetching bids for nearly Rs 4.4 lakh crore. The allocation for the qualified institutional bidders (QIBs) was subscribed a whopping 166.51 times, while the portion for non-institutional investors' (NIIs) was subscribed 22.45 times. However, the retail investors' quota was booked 3.55 times.

Based on the bidding, here are the odds of allotment for IPO of LG Electronics India:

• Big HNI category: 2 investors out of 9 investors will get 182 shares (Probability: 22.22 per cent)
• Small HNI category: 1 investor out of 70 investors will get 182 shares (Probability: 6.06 per cent)
• Retail category: 1 investor out of 46 investors will get 13 shares. (Probability: 50 per cent)
   

The grey market premium (GMP) of LG Electronics has seen a sharp rise, following a bumper bidding and strong market sentiments. Last heard, the company was commanding a grey market premium of Rs 380 per share in the unofficial market, suggesting a listing pop of 33 per cent for the investors. The GMP stood at Rs 250 when the issue had opened for bidding.

New Delhi-based LG Electronics India, incorporated in 1997, is a manufacturer and distributor of home appliances and consumer electronics, excluding mobile phones. It sells products to B2C and B2B consumers in India and outside India. The company offer installation services, and repairs and maintenance services for all their products.

Morgan Stanley India Company, JP Morgan India, Axis Capital, BofA Securities India and Citigroup Global Markets India are the book running lead managers for LG Electronics IPO, while Kfin Technologies is the registrar of the issue. Refund initiation and credit of shares shall be initiated on Monday, October 13. Its shares shall be listed on both BSE and NSE on Tuesday, October 14.

Investors, who had bid for the issue of LG Electronics India, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1. Visit https://www.bseindia.com/investors/appli_check.aspx
2. Under the issue type, click Equity
3. Under the issue name, select LG Electronics India Limited in the dropbox
4. Write the application number
5. Add the PAN card ID
6. Click on 'I am not a Robot' and hit search button

Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

1. Go to the web portal of KFin Technologies Limited
2. Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3. You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4. In application type, select between ASBA and non-ASBA
5. Enter the details of the mode you selected in Step 2
6. For security purposes, fill the captcha accurately
7. Hit submit.