The Indian primary market is buzzing this October as two heavyweight IPOs, Tata Capital Ltd and LG Electronics India Ltd (LGEIL), hit Dalal Street within a day of each other.
Together, these issues are worth over Rs 27,000 crore, making this one of the busiest weeks for IPO investors in 2025.
Both Tata Capital, a homegrown non-banking financial giant, and LG Electronics India, the local arm of South Korea’s electronics major, bring different strengths, valuations, and business models to the table. Here’s a detailed comparison.
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Tata Capital IPO: Scale and Stability of the Tata Brand
Tata Capital’s Rs 15,512 crore IPO is the largest issue of the year so far. The offering includes a fresh issue of 21 crore shares and an offer for sale (OFS) of 26.58 crore shares, priced in the band of Rs 310-Rs 326 per share.
At the upper band, Tata Capital commands a valuation of Rs 1.38 lakh crore.
The fresh issue proceeds will be used to strengthen Tier-1 capital, enabling the NBFC to expand its lending operations.
Tata Sons, the holding company, will offload 23 crore shares in the OFS, while IFC (International Finance Corporation) will divest 3.58 crore shares.
On the financial front, Tata Capital has been delivering steady growth. Its FY25 profit after tax stood at Rs 3,655 crore, up from Rs 3,327 crore in FY24, while revenue surged to Rs 28,313 crore, a jump of over 55 per cent year-on-year.
With a diversified book spanning retail loans, infrastructure finance, and corporate lending, the company is well-positioned to capture India’s rising credit demand.
Listing is scheduled for October 13, 2025.
Read More: Tata Capital IPO opens: 5 key things to know before investing in Tata group firm’s Rs 15,512-crore offer
LG Electronics India IPO: Major consumer electronics player with strong market share
Hot on Tata Capital’s heels, LG Electronics India Ltd (LGEIL) is coming out with an Rs 11,607-crore IPO, opening on October 7 and closing on October 9.
The entire issue is an offer for sale of 10.18 crore shares, representing a 15 per cent stake divestment by the South Korea-based parent company.
The price band is set at Rs 1,080-Rs 1,140 per share, valuing the company at about Rs 77,400 crore.
Unlike Tata Capital, LG India will not receive any proceeds, as the funds go to the parent.
However, the IPO gives Indian investors a chance to own a piece of a consumer electronics leader that has dominated the Indian market for nearly three decades.
As per SBI Securities, LG India has been the No.1 player in India’s consumer electronics and home appliances sector (excluding mobile phones) across 2022, 2023, 2024, and H1 2025.
Its market share in key product categories is unmatched: washing machines (33.5 per cent), refrigerators (29.9 per cent), panel televisions (27.5 per cent), inverter ACs (20.6 per cent), and microwaves (51.4 per cent).
In FY25, the company reported Rs 24,367 crore in revenue (up from Rs 21,352 crore in FY24) and net profit of Rs 2,203 crore (vs Rs 1,511 crore last year).
Its growth is supported by a pan-India distribution network of over 35,000 touchpoints, 1,006 service centres, and large-scale manufacturing units in Pune and Noida with a combined capacity of 1.45 crore products annually.
At the upper end of the price band, the IPO is valued at a P/E multiple of 35.1x, which, according to SBI Securities, is justified given its superior return profile, strong brand recall, and industry-leading margins.
The brokerage recommends investors subscribe to the issue.
Listing is scheduled for October 14, 2025.
