IPO GMP Today: LG Electronics Vs Tata Capital; Two Blockbuster Listings On The Cards?

The initial public offerings (IPO) of Tata Capital Ltd. and LG Electronics India Ltd. are currently in focus among investors.

With both bidding windows still open, grey market activity has picked up. Traders are closely monitoring the grey market premium (GMP), a key indicator of market sentiment and expected listing performance.

The Rs 11,607.01 crore IPO of LG Electronics India was fully subscribed on Day 1, whereas the public issue of Tata Capital is nearly fully subscribed (0.9 times) on its final day.

The Tata Capital IPO, which opened for subscription on October 6, will remain active until October 8. LG Electronics India followed with its IPO launch on October 7, which will close on October 9.

Here’s a look at what the latest GMP indicates for these IPOs:

According to InvestorGain, the latest grey market premium (GMP) for Tata Capital IPO was Rs 7, as of 1 p.m. on October 8. With a price band cap of Rs 326, the estimated listing price is Rs 333. This suggests a potential gain of 2.15% per share based on current GMP trends. This marks a decline from the earlier GMP of Rs 12.5 on October 6.

Tata Capital Ltd.’s IPO is a book-built issue worth Rs 15,511.87 crore. It includes a fresh issue of 21 crore shares totalling Rs 6,846 crore and an offer for sale (OFS) of 26.58 crore shares amounting to Rs 8,665.87 crore.

Tata Capital IPO has a price band of Rs 310 to Rs 326 per share.

The IPO was fully subscribed on Wednesday.

The share allotment status for Tata Capital is expected to be finalised on October 9. The IPO is set to list on both BSE and NSE, with the tentative listing date scheduled for October 13.

According to InvestorGain, LG Electronics India's IPO’s latest GMP was Rs 303, as of 12:01 p.m. on October 8. With a price band cap of Rs 1,140, the estimated listing price is Rs 1,443. This suggests an expected gain of 26.58% per share based on current GMP trends.

LG Electronics India Ltd.’s IPO is valued at Rs 11,607.01 crore and is entirely an offer for sale, involving 10.18 crore equity shares. There is no fresh issue component. The price band for the IPO is set between Rs 1,080 and Rs 1,140 per share.

Share allotment for LG Electronics India's IPO is expected on October 10, with a tentative listing date of October 14.

Note: GMP does not represent official data and is based on speculation.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.