LG Electronics India soars 50 on debut day

ByEnigma 808

LG Electronics India surged 50.4% on its market debut Tuesday, hitting a valuation of $13.07 billion (Rs 1.15 lakh crore) and surpassing its South Korean parent’s worth of nearly $10 billion. The stock opened at Rs 1,710.10 on the NSE, up from the issue price of Rs 1,140, and peaked at Rs 1,749 before trading around Rs 1,695 midday.

This marks India’s strongest IPO debut for a billion-dollar listing since 2021. Brokerages like Prabhudas Lilladher and Motilal Oswal gave “Buy” ratings with targets of Rs 1,780 and Rs 1,800, citing LG’s brand strength, distribution, and B2B focus. India’s consumer electronics market is projected to grow at 14% CAGR through 2029.

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    Besides writing and being a content creator, Enigma 808 sometimes likes to watch paint dry on walls, listening to ASMR while timing snails racing. Such is life.