LG Electronics India stuns stock market! makes bumper debut, shares jump by…, opens with price of Rs…

The Rs 11,607-crore IPO of LG electronics India had a price band of Rs 1,080 to Rs 1,140 per share.

LG Electronics India Share: Shares of LG Electronics India Ltd made a strong debut on Tuesday, listing at a premium of more than 50% over the issue price of Rs 1,140 per share.

On the BSE, the stock opened at Rs 1,715, marking a 50.43% jump from the issue price, and later climbed further to Rs 1,736.40, up 52.31%. On the NSE, it began trading at Rs 1,710.10, reflecting a 50% listing gain.

During morning trade, the company’s market capitalization stood at approximately Rs 1,12,380.95 crore.

LG Electronics India Share Market Debut

The initial public offering of LG Electronics India Ltd received 54.02 times subscription on the final day of bidding on Thursday, driven by overwhelming participation from institutional buyers.

This is the second South Korean company to tap the Indian stock market, following the listing of Hyundai Motors India Ltd in October last year.

The IPO was entirely an Offer-For-Sale (OFS) of 10.18 crore shares, representing about 15 per cent stake, by the South Korea-based parent.

LG Electronics India Operations In India

LG Electronics India is a leading player in major home appliances and consumer electronics. The company’s products are sold to both B2C and B2B customers in India and abroad. It also provides installation, repair, and maintenance services for all its products.

The company manufactures and sells products, including washing machines, refrigerators, LED TV panels, inverter air conditioners, and microwaves. It has manufacturing units at Noida, Uttar Pradesh and Pune, Maharashtra. 

(With Inputs From PTI)