IPO GMP Today: Tata Capital vs LG Electronics, Check Latest Grey Market Trends

The initial public offerings (IPO)s of Tata Capital and LG Electronics are set to open this week. The IPOs are in focus in the grey market ahead of the subscription window opening. Here's a look at what the latest grey market premium (GMP) indicates for these IPOs.

According to InvestorGain, the GMP for the Tata Capital IPO stood at Rs 7.50 per share as of 8:30 a.m. on Oct. 6. It indicates a listing price of Rs 333.5 apiece at a premium of 2.30% over the upper limit of the IPO price band. 

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

The price band for the IPO is set between Rs 310 and Rs 326 per share.

The subscription window for the IPO will be open from Oct. 6 to Oct. 8.

Share allotment status is expected to be finalised on Oct. 9. Shares of Tata Capital are tentatively scheduled to be listed on the BSE and NSE on Oct. 13.

Tata Capital is a non-banking financial company (NBFC) that offers financial products and services. It is a subsidiary of Tata Sons Ltd.

The GMP for the LG Electronics India IPO stood at Rs 250 per share as of 7:00 a.m. on Oct. 6, according to InvestorGain. The latest GMP indicates a listing price of Rs 1,390 apiece, at a premium of 21.93% compared to the upper limit of the issue price.

The LG Electronics India IPO is a book-built issue of Rs 11,607.01 crore. The issue is entirely an OFS of 10.18 crore shares.

The price band is set between Rs 1,080 and Rs 1,140 per share.

Investors can bid for shares in the IPO from Oct. 7-9. Allotment of shares is proposed to be done on Oct. 10. Shares of LG Electronics are expected to be listed on the BSE and NSE on Oct. 14.

LG Electronics India manufactures and sells consumer electronics products.

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.