LG Electronics IPO GMP surges 35 per cent: Steps to check the allotment status on NSE and BSE

LG Electronics, which witnessed a massive investor demand that resulted in an oversubscription of 54 times after 3 days of public bidding.

The IPO with an issue size of 11,607 crore is an offer-for-sale (OFS). Which means the company will not receive any proceeds from the offer. The primary objective of the offer is to achieve the benefits of listing the equity shares on the stock exchanges, which in turn would enhance the company’s visibility and brand recognition.

As per official sources, Qualified Institutional Buyers subscribed 95.76 times their allotted share. Meanwhile, Non-Institutional Investor and Retail Individual Investor subscribed 21.19 times and 3.23 times their allotted share.

Investors who applied for the LG Electronics IPO will be able to check their allotment status today.

The IPO bidding, which took place from October 7 to 9, saw a tremendous investor participation. As per the official calendar,  the allotment details will be released today and the listing is scheduled to take place on October 14.

According to multiple media reports and analysts, the grey market premium (GMP) shows 35 per cent listing gains.

Investors who have applied for the LG Electronics IPO can check their allotment status on the official website.

Here are the steps to check the allotment status:

Visit the official website of NSE or BSE

From the IPO option on the home page, choose LG Electronics IPO

Furnish the PAN card details or the application number and submit it to view the allotment status.