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LG Electronics India Makes Spectacular Stock Market Debut

Strategic Insights

— 1 min read

LG Electronics India Ltd made a stunning debut on the stock market, with its shares listing at a premium of over 50% against the issue price of Rs.1,140 per share. The company's market capitalization touched Rs.1,12,380.95 crore during morning trade, with its Rs.11,607-crore initial public offering (IPO) receiving a massive response from investors, subscribing 54.02 times on the final day of bidding. As a dominant player in home appliances and consumer electronics, LG Electronics India manufactures and sells products such as washing machines, refrigerators, LED TV panels, inverter air conditioners, and microwaves, and also offers installation, repair, and maintenance services through its facilities in Noida and Pune.

Key Takeaways:

  • LG Electronics India's shares listed at a premium of over 50% against the issue price of Rs.1,140 per share, with a 50.43% jump to Rs.1,715 on the BSE.
  • The company's market capitalization touched Rs.1,12,380.95 crore during morning trade.
  • The Rs.11,607-crore initial public offering (IPO) received a massive response from investors, subscribing 54.02 times on the final day of bidding.
  • The IPO was entirely an Offer-for-Sale (OFS) of 10.18 crore shares, representing about 15% stake, by the South Korea-based parent company.
  • LG Electronics India is the second South Korean firm to enter the Indian stock market after Hyundai Motors India's listing in October last year.
  • The company manufactures and sells a wide range of products, including washing machines, refrigerators, LED TV panels, inverter air conditioners, and microwaves.
  • LG Electronics India also offers installation, repair, and maintenance services through its facilities in Noida and Pune.

Statistics:

  • LG Electronics India's shares listed at a premium of 50.43% against the issue price of Rs.1,140 per share.
  • The company's market capitalization touched Rs.1,12,380.95 crore during morning trade.
  • The Rs.11,607-crore initial public offering (IPO) received a massive response from investors, subscribing 54.02 times on the final day of bidding.

Sources:

  • "LG Electronics makes spectacular debut on Dalal Street." India, Oct. 14. —
  • Afternoon Voice.

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