LG Electronics India Shares Bumper IPO raises 50% on market debut after IPO

LG Electronics India’s shares, led by institutional investors, increased by 1% on Tuesday, with the highest demand of Indian IPOs in the opening public offer of the company from 1 2008.

His shares opened at Rs 1,710. The IPO was priced at the top of a band of Rs. 1,400, at the top of a band of Rs. 5,40, Rs. 5 billion ($ 1.3 billion) and overcreen over 54 times. Exchange data revealed??

Pranab Haldia of Prim Database told CNBC that it was the largest Indian IPO, which was the largest membership of Reliance Power from the list of Reliance Power. There was a huge demand from eligible institutional buyers, who gave 166 times the bid to allotted their allotted areas. The region of retail investors is overbrew 5.55 times.

The IPO was designed as an offer for sale – no new shares were given – parents LG electronics are selling 101.8 million shares. It was managed by the Morgan Stinnie, JP Morgan, Axis Capital, Bofa Securities and City Group Global Markets India with the Consortium of International and Domestic Bookerners.

Shares started trade on the National Stock Exchange of India as well as BSE on Tuesday.

This is South Korea’s second largest company that has tapped Indian markets in almost a year List of Hyundai Motor India in October 2024??

LG Electronics India is a unit of South Korea’s LG Electronics. It produces, manufactures, and markets extensive customers such as refrigerators, air conditioners, washing machines, television and smart home devices.

“LG Electronics India stands as a player listed with a wide range of offers and is popular in most of the products in the present,” said Himanshu Dugar, Sebi-registered Independent Equity Research Analyst.

According to Redceer Strategy Consultants, India’s Electronics and Equipment Market Estimates In 224, about $ 75 billion from about $ 75 billion to $ 1 billion to $ 2 billion to $ 2 billion.?? “Accordingly, we expect that the Telwinds will benefit as LG Electronics India, Market Leaders,” Dugar said.

This year, India remains in the world’s busy IPO markets. EY’s latest global report The country has logged 144 offers in the third Child quarter. Due to this, the nine -month tally has been brought to 444 deals of $ 8.8 billion and the IPO return is 5.5..5%.

– CNBC’s Lim Hui Ji contributed to the report.