The LG Electronics IPO began on a slow note on October 7 but gained momentum by the end of the day, reaching full subscription. With two bidding days remaining, investor interest remains strong. By the close of Day 1, the IPO was subscribed 1.04 times. In contrast, Tata Capital’s IPO, closing on October 8, was subscribed 75% by the end of its second day.
Market experts have mixed views on both offerings. Tata Capital’s IPO comprises a fresh issue of 21 crore shares and an offer for sale of 26.58 crore shares, with a price band of ₹310–₹326. Arun Kejriwal highlighted that this price is far below its earlier unlisted value of ₹1,100+, urging caution as this is the third major IPO priced significantly below its unlisted valuation. The LG Electronics IPO, an offer for sale of 10.18 crore shares priced between ₹1,080–₹1,140, will mark the second South Korean listing in India after Hyundai Motors in October 2024.
Analysts like Prashanth Tapse view Tata Capital as a stable, long-term play, while LG Electronics offers short-term potential and strong fundamentals. Abhinav Tiwari noted LG’s solid ROE, ROCE, and growth outlook. Meanwhile, Tata Capital’s falling GMP reflects investor caution due to asset quality concerns following its merger with Tata Motor Finance.