LG Electronics India IPO GMP Live: LG Electronics India launches IPO today, grey market shows Rs 228 premium
LG Electronics IPO GMP Live: SBI, HDFC funds among biggest domestic buyers
Blackrock invested Rs 97.16 crore, Singapore’s wealth fund Rs 171 crore and Norway’s wealth fund Rs 105 crore. Abu Dhabi Investment Authority was allotted shares worth Rs 102 crore.
Domestic mutual funds were allotted about 49% of the shares set aside for anchor investors, with SBI and HDFC funds among the biggest buyers.
Together, anchor investors will buy about 30% of the 101.8 million shares on offer at the IPO.
The firm is India’s second largest appliance maker and competes with Whirlpool and Samsung, in the domestic market.
Its parent firm is looking to make India its global manufacturing hub, for its competitive labor costs and strong domestic demand, an executive told Reuters last week.
Source: www.moneycontrol.com