The initial public offerings (IPO)s of Tata Capital and LG Electronics are open for subscription and are in focus in the grey market. The Tata Capital IPO, which opened on Monday, has been subscribed 0.73 times so far. The bidding for the LG Electronics India IPO started on Tuesday and has been subscribed 0.99 times, as per data available on the NSE till 4:18 p.m. Here's a look at what the latest grey market premium (GMP) indicates for these IPOs.
Tata Capital IPO GMP
According to InvestorGain, the GMP for the Tata Capital IPO stood at Rs 5.50 per share as of 3:30 p.m. on Oct. 7. It indicates a listing price of Rs 331.5 apiece at a premium of 1.69% over the upper limit of the IPO price band.
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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 till 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.
LG Electronics IPO GMP
The GMP for the LG Electronics India IPO stood at Rs 315 per share as of 3:30 p.m. on Oct. 7, according to InvestorGain. The latest GMP indicates a listing price of Rs 1,455 apiece, at a premium of 27.63% 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.
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