Daijiworld Media Network - Mumbai

Mumbai, Oct 9: Investor attention is focused on the initial public offerings (IPOs) of Tata Capital Ltd. and LG Electronics India Ltd., with grey market activity offering early signals of potential listing performance.

The subscription for Tata Capital concluded on October 8, while LG Electronics India’s IPO remains open for bidding until October 9. Tata Capital’s IPO, which opened on October 6, was oversubscribed 1.95 times on its final day, whereas the Rs 11,607.01 crore IPO of LG Electronics India has already been subscribed over four times as of 10:36 a.m. on October 9.

According to InvestorGain, the latest grey market premium (GMP) for Tata Capital IPO was Rs 3.5 as of 10 a.m. on October 9. With a price band cap of Rs 326, the estimated listing price is Rs 329.5, indicating a potential gain of 1.07% per share. This marks a decline from the earlier GMP of Rs 12.5 recorded on October 6. Tata Capital’s book-built IPO, valued at Rs 15,511.87 crore, includes a fresh issue of 21 crore shares worth Rs 6,846 crore and an offer for sale (OFS) of 26.58 crore shares totaling Rs 8,665.87 crore. The share allotment status is expected to be finalised on October 9, with a tentative listing date of October 13 on both BSE and NSE.

For LG Electronics India, the latest GMP was Rs 300 as of 10 a.m. on October 9. With a price band cap of Rs 1,140, the estimated listing price is Rs 1,440, suggesting a potential gain of 26.32% per share. The Rs 11,607.01 crore IPO is entirely an offer for sale, comprising 10.18 crore equity shares, and does not include a fresh issue. Share allotment is expected on October 10, with a tentative listing on October 14.

The strong grey market premiums reflect positive investor sentiment and indicate potential listing gains for both IPOs, with LG Electronics India showing particularly robust prospects.