LG Electronics India IPO subscribed 2x on Day 2 so far, NII portion booked 5x: Should you apply?

LG Electronics India IPO subscribed 2x on Day 2 so far, NII portion booked 5x: Should you apply?

The initial public offering of LG Electronics India continued to garner strong investor interest on its second day of public bidding. The maiden public issue of the home appliances and consumer electronics manufacturer has been subscribed 214 percent so far on October 8.

The Rs 11,607-crore IPO has received bids for more than 15 crore shares, as against the offer size of 7.13 crore shares, according to data on NSE at 1 pm. Non Institutional Investors (NII) lead the subscription race, booking their reserved portion more than 5 times.

Retail Individual Investors (RII) have fully booked their reserved portion (158 percent so far), while Qualified Institutional Buyers (QIB) have subscribed 98 percent of their reserved portion.