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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] Mumbai / Seoul, October 14 — LG Electronics India Ltd. made a spectacular debut on the National Stock Exchange of India (NSE) on Monday, with its share price surging 50.4% from the IPO price of 1,140 rupees to 1,714.90 rupees at market close.
The IPO — the largest in India since 2008 — drew overwhelming investor demand, reaching a subscription rate of 54 times the offered shares, and raised the equivalent of ₩1.8 trillion ($1.3 billion) in proceeds.
According to Reuters, this marks the strongest first-day performance among Indian IPOs valued above $1 billion since 2021. Following the surge, LG Electronics India’s market capitalization hit $13.07 billion (₩18.7 trillion), surpassing LG Electronics’ Korea-listed valuation of ₩13.5 trillion.
IPO Overview and Financial Growth
LG Electronics offered 15% of its Indian subsidiary’s shares (101,815,859 shares) through a secondary sale at the top of the indicative range — 1,140 rupees per share (approx. ₩18,000).
The funds raised will strengthen the company’s financial stability and support future M&A activity aimed at expanding new growth areas.
LG Electronics India has shown robust growth over recent years:
Revenue rose from ₩2.6 trillion in 2021 to ₩3.8 trillion in 2023.
Net profit climbed from ₩198.5 billion to ₩331.8 billion in the same period.
In H1 2024, revenue reached ₩2.27 trillion, up 8% year-on-year.
“Make for India, Make in India, Make India Global” Vision
At the listing ceremony in Mumbai, attended by CEO Cho Joo-wan, CFO Kim Chang-tae, India head Jeon Hong-joo, and India board chair Song Dae-hyun, LG Electronics unveiled its three-pillar vision:
“Make for India, Make in India, Make India Global.”
CEO Cho stated,
“India, with its 1.4 billion people and vast potential, will be the key pillar of LG’s next growth chapter. We will expand locally tailored strategies and evolve beyond a market leader into India’s most trusted national brand.”
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
