LG Electronics India surges 50% in $13 billion market debut
Shares of LG Electronics India Ltd. skyrocketed 50.4% in their trading debut on Tuesday, giving the company a $13.07 billion valuation — surpassing the market capitalization of its South Korean parent, LG Electronics.
The stock opened at ₹1,710.10 on the National Stock Exchange, well above its ₹1,140 issue price, marking India’s strongest billion-dollar IPO debut since 2021, News.Az reports, citing Reuters.
Investor enthusiasm was unprecedented, with bids worth $50 billion flooding in for the $1.3 billion IPO, making it India’s most subscribed large public offering since 2008.
Analysts said the blockbuster debut reflected strong fundamentals, fair pricing, and robust consumer demand. Institutional investors oversubscribed their quota 166 times, while retail investors bid 3.5 times their allocation.
The listing also boosted LG India’s market value beyond domestic peers Whirlpool, Voltas, and Havells, cementing its position as India’s second-largest appliance maker and a standout in an otherwise volatile IPO market.
Similar news
