Stellar Market Debut: LG Electronics Soars with a 48% Premium

Shares of LG Electronics India Ltd made a remarkable debut in the stock market with a 48% premium. The IPO was highly subscribed, driven by strong institutional interest. This marks LG Electronics as the second South Korean company listed on an Indian exchange, following Hyundai's listing last year.

LG Electronics India Ltd experienced a stellar debut on the stock market, ending the day with shares priced 48.19% above the issue price of Rs 1,140. The stock started trading at Rs 1,715 on the BSE and continued its upward trajectory throughout the day.

On the NSE, shares opened at Rs 1,710.10 and concluded the session at Rs 1,689.90, reflecting a 48.23% increase. The company achieved a market valuation of Rs 1,14,671.81 crore, supported by substantial trading volumes on both exchanges.

The Rs 11,607-crore IPO, marked with a price band of Rs 1,080 to Rs 1,140, was oversubscribed 54.02 times, demonstrating robust demand from institutional buyers. The IPO was an Offer-For-Sale by the South Korean parent, releasing a 15% stake in the company to the market.

(With inputs from agencies.)