LG Electronics India soars 50% on debut, sets IPO record
LG Electronics India just made stock market history—its shares opened at ₹1,715, soaring 50% above the ₹1,140 issue price.
The IPO (Oct 7-9, 2024) was a massive hit, oversubscribed 54 times and attracting ₹4.39 lakh crore in bids—a new benchmark for Indian IPOs.
LG India's business in numbers
LG India is the country's #2 home appliance and air solutions brand, with factories in Pune and Noida producing up to 14.5 million units a year.
Over half its materials are sourced locally, and products reach more than 35,000 stores nationwide.
For FY24, LG India pulled in ₹24,366 crore revenue and ₹2,203 crore profit—plus it runs on almost no debt.
What happens to the money raised?
All funds raised head to parent company LG Electronics Inc., which keeps full ownership of LG India after listing.
The cash will help fuel growth in areas like HVAC tech, appliance subscriptions, and online services.
With this debut, LG India is now valued at ₹1,16,049 crore—even topping its South Korean parent's market cap!