India’s $200 Million-an-Hour IPO Boom Shows Rise of Local Investors

Six-and-a-half hours. That’s all it took for LG Electronics India Ltd.’s $1.3 billion initial public offering to be fully sold on Oct. 7, marking the fastest take-up in 17 years among major Indian IPOs.

It’s offerings like LG’s, the nation’s third biggest for this year, that have made India one of the world’s hottest IPO venues, with total proceeds hurtling toward last year’s record tally of $21 billion.