India, Oct. 7 -- The initial public offering of LG Electronics India Ltd. was sold out on the first day itself, a rare feat for an IPO of its size in the world's third largest stock market.

Investors bid for 7,45,80,662 shares as against 7,13,34,320 shares on offer in the LG Electronics India IPO. That equates to a subscription of 1.05 times, according to data on the website of the National Stock Exchange. The IPO has raised Rs.8,502.195 crore from 14,61,291 applications.

The demand was led by non-institutional investors, who picked up 2.31 times the number of shares reserved for them. The portion reserved for qualified institutional buyers was subscribed 49%, while those for retail investors and employees saw 82% and 1.9 times subscrip...