CHENNAI: Two of India’s most anticipated public issues — LG Electronics India and Tata Capital — are set to open for subscription on Monday, October 6, 2025, marking a key test for investor sentiment amid a volatile market backdrop. Analysts say both offerings are unique in scale and significance, likely to draw strong institutional interest while reflecting the resilience of India’s primary market.
Tata Capital’s IPO, valued at over Rs 20,000 crore, is among the largest this year and the biggest-ever public issue by a non-banking financial company (NBFC) in India. The price band has been set at Rs 310–Rs 326 per share. The company already raised about Rs 4,642 crore from anchor investors, including LIC, Goldman Sachs, Morgan Stanley, and top domestic mutual funds, underscoring robust institutional confidence.
LG Electronics India’s IPO, worth around Rs 11,600 crore, will be priced in the Rs 1,080–Rs 1,140 range per share. The issue is structured as an Offer for Sale (OFS), meaning the Korean parent, LG Electronics, will divest a portion of its holding without infusing new capital into the Indian arm. Despite this, analysts believe the listing will be closely watched given LG’s strong brand recall, market leadership, and plans to expand local manufacturing — including a new $600 million facility in Sri City.
Why these IPOs stand out
According to market analysts, both issues are “special” because they represent leadership in two contrasting but high-growth sectors — consumer electronics and financial services. Tata Capital’s offering reflects confidence in India’s formal credit ecosystem, while LG’s listing showcases the country’s growing importance as a manufacturing and consumption hub.
Analysts note that Tata Capital’s pricing strategy appears measured, leaving room for potential listing gains and appealing to long-term investors seeking exposure to a diversified, stable NBFC. For LG, the focus will be on its growth narrative and profitability track record, as investors assess how much premium to assign to a consumer electronics major going public in India for the first time.
Brokerages see Tata Capital as a high-quality play backed by the Tata Group’s credibility, diversified lending base, and strong governance. However, they caution that maintaining growth while preserving asset quality will remain a challenge in a rising credit cycle.
"India’s primary market has shown strong resilience this year, with several IPOs witnessing healthy value appreciation. Tata Capital, one of the largest issues in terms of capital raised, is expected to perform well given its solid fundamentals and the promoters’ proven strength and commitment. LG Electronics India is also likely to attract strong interest, although its valuation appears significantly higher than that of its parent’s shares in Korea — similar to what was seen in the Hyundai IPO," says Dr V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services Limited
For LG Electronics India, analysts highlight valuation concerns, as the issue’s implied market capitalisation places it among India’s most expensive consumer durables stocks. Some also note that since the IPO proceeds go entirely to the parent through the OFS route, investors will need to rely on earnings momentum rather than fresh capital deployment.
Risks and Considerations
Both IPOs are debuting amid cautious global sentiment, sustained foreign outflows from Indian equities, and a weakening rupee — factors that could temper retail participation. Analysts also warn that if broader markets turn volatile next week, subscription levels and listing performance could be affected, even for marquee issues.
The Tata Capital and LG Electronics India IPOs stand out not only for their scale but also for their potential to shape investor mood in the coming weeks. Analysts believe their success will serve as a key indicator of how much liquidity and confidence remain in India’s primary markets amid global uncertainty. While institutional demand looks encouraging, final subscription trends and listing-day performance will determine whether these high-profile issues live up to their billing as the season’s most special offerings.