In today’s briefing:
- Excellent Demand for LG Electronics India IPO
- Delhivery: Riding the Festive Wave and the GST Boost
- Canara HSBC Life Insurance IPO – Improving AUM but Dependent on Bancassurance Channels
Excellent Demand for LG Electronics India IPO
- There has an excellent demand for the LG Electronics India (LGEI) IPO among the institutional investors which sets the stage for a positive rally once it starts trading.
- LGEI raised 4.43 trillion rupees in subscription funds during the general subscription period from 7 to 9 October. This amount is approximately 40 times the initial public offering (IPO) target.
- Our base case valuation is target price of 1,514 INR which is 33% higher than the high end of the IPO price range.
Delhivery: Riding the Festive Wave and the GST Boost
- Electronic payments and consumption surged post the GST rate cut, with Delhivery reporting a record 104 million shipments in September 2025.
- The Ecom Express integration and festive demand have positioned Delhivery for volume leadership and margin expansion.
- With strong execution and improving capital efficiency, Delhivery is set to consolidate its dominance in India’s third-party logistics market.
Canara HSBC Life Insurance IPO – Improving AUM but Dependent on Bancassurance Channels
- Canara HSBC Life Insurance (2908709Z IJ) (CHLI) is looking to raise US$284m from its upcoming India IPO, which is an entire secondary share sale.
- CHLI is a private life insurer in India, promoted by Canara Bank and HSBC Insurance (Asia-Pacific) Holdings Limited, a member of the HSBC group.
- It offers a comprehensive range of life insurance products tailored for both individual and group (i.e., companies, businesses or organizations) customers.
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