LG Electronics India's IPO pops 50% on debut: Here's why
LG Electronics India's IPO hit the stock market with a bang on Tuesday, debuting at ₹1,710.10 on NSE and ₹1,715 on BSE—about 50% above its issue price of ₹1,140.
The company raised ₹11,607 crore through this offer-for-sale and saw massive interest: the IPO was subscribed 54 times overall, with bids crossing ₹4.4 lakh crore.
Big institutional investors went all in (subscribed 166.5 times), while retail investors joined in too.
Debt-free company sells consumer electronics and home appliances
A fully-owned arm of South Korea's LG Electronics, the company sells popular consumer electronics and home appliances—think air conditioners and kitchen gadgets—across India.
They also handle installation and after-sales service themselves.
Notably, they're debt-free and serve both individual shoppers and big organizations.
Factors that made the IPO a hit
Analysts say the buzz comes down to LG's solid growth prospects in India's booming durable goods market, smart pricing for the IPO, and strong financials.
All these factors made it a hot pick for investors looking for steady brands with room to grow.