In today’s briefing:
- Tata Capital Limited – IPO | Underwriting, Collections & Attrition
- LG Electronics India IPO – RHP Updates and Peer Comparison Refresh.
- CMTX IPO Preview
Tata Capital Limited – IPO | Underwriting, Collections & Attrition
- Tata Capital Limited (TATACAP IN) IPO highlights strong branch growth and granular loan book, though new-to-credit exposure remains limited and underwriting largely product-driven.
- Weak sourcing disclosures beyond Home Loans raise concerns on DSA reliance, portfolio quality, and resilience during downturns, especially in competitive lending segments.
- Collections are highly digitized and analytics-driven, yet regulatory inspections reveal persistent compliance, governance, and risk management lapses across Tata Capital, TMFL, and TCHFL.
LG Electronics India IPO – RHP Updates and Peer Comparison Refresh.
- LG Electronics (066570 KS) is looking to raise US$1.3bn via part-selling its stake in LG Electronics India.
- LG Electronics India (LGEI) was the market leader in India in major home appliances and consumer electronics (excluding mobile phones) in terms of volume, as per Redseer Report.
- We have looked at the company’s past performance in our previous note, in this note we talk about the RHP updates and refresh our peer comparison
CMTX IPO Preview
- CMTX is getting ready to complete its IPO in KOSDAQ in 4Q 2025. The company will offer a total of 1 million shares (new shares) in this IPO.
- The target IPO price range is 51,000 to 60,500 won per share. The projected market capitalization after listing is 473 billion to 561.2 billion won.
- CMTX began by manufacturing ceramics and sapphire components for semiconductor etching processes and has since expanded its business to include core consumable silicon components such as silicon rings and electrodes.
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