LG India IPO didn't just rake in the monies for investors but for these guys as well

The Tata Capital IPO may have been India's largest initial public offering, but it was the LG India IPO that raked in the moolah — not just for investors.

The fever pitch of IPOs in India is unlikely to ebb any time soon. That means more avenues to rake in the moolah — for investors and bankers. (Representative Image/Unsplash)

Both the companies listed this week. Tata Capital Ltd. rose 1.4% on its listing day and LG Electronics India Ltd. popped 48% in the best market debut for an IPO of its size. The IPO itself was India's most subscribed billion-dollar initial public offering in 17 years.

“LG’s record-breaking market debut was driven by strong investor conviction on vision and fundamentals of the company,” Atul Mehra, managing director and chief executive of book-running lead manager Axis Capital Pvt. Ltd., told Bloomberg.

“The blockbuster listing underscores the depth and maturity of India’s equity market, showing it can absorb large, high-quality issuances at responsible valuations.”

That works out to about ₹45 crore each for LG India IPO's book-running lead managers, almost triple the average for Tata Capital.

The bankers for the LG India IPO were Axis Bank Ltd., Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co. and Morgan Stanley.

The bankers for the Tata Capital IPO were Axis Bank, BNP Paribas, Citigroup, HDFC Bank Ltd., HSBC Holdings Plc, ICICI Securities, IIFL Capital Ltd., JPMorgan, Kotak Mahindra and SBI Capital Markets Ltd.

After September became the busiest month for IPOs in India since January 1997 and a blockbuster start to October thanks to LG India, investors have more to look forward to even as the year draws to a close.

Both Lenskart Solutions Ltd. and Billionbrains Garage Ventures Ltd. (Groww) have lined up their IPOs to raise a total of $1.7 billion later this month. Even Fossil India is said to tap India's red-hot IPO market that has already raised $15 billion this year, compared to the record $21 billion raised in 2024.