New Delhi
LG Electronics India made a stellar stock market debut on Tuesday, with shares jumping 50.4% from the issue price, valuing the company at $13.07 billion (₹1.15 lakh crore). The debut valuation surpassed its South Korean parent’s market capitalisation of nearly $10 billion (₹8,800 crore), marking the most sought-after IPO in India since 2008.
Shares opened at ₹1,710.10 on the NSE, well above the issue price of ₹1,140, and touched a high of ₹1,749, reflecting robust investor demand. As of midday, shares were trading around ₹1,695. Analysts highlighted strong investor confidence driven by LG Electronics India’s extensive distribution network, premium brand positioning, and leadership across key product categories.
Brokerages were optimistic, with Prabhudas Lilladher assigning a “Buy” rating and a target of ₹1,780, while Motilal Oswal Financial Services set a target of ₹1,800, citing strong return ratios, higher operational cash flow conversion, localisation strategies, and growth in high-margin B2B and AMC revenues.
India’s home appliances and consumer electronics market, excluding mobiles, is expected to grow at a 14% CAGR through 2029, positioning LG Electronics India to capitalise on rising demand. For the three months ended September, LG Electronics reported operating profit of 688.9 billion won ($482.6 million), down 8.4% year-on-year, reflecting ongoing operational challenges but strong long-term growth prospects.