^{Photo: The Korea Economic Daily}

In a remarkable market debut, LG Electronics India became more valuable than its parent company, LG Electronics of South Korea, after its shares soared over 45% on opening day. The listing marks one of the most successful initial public offerings (IPOs) in India’s history, drawing extraordinary investor demand and signaling strong confidence in India’s growing consumer electronics market.

Record-Breaking Debut

The IPO, priced at the top end of the 1,080–1,140 rupee range, raised 116 billion rupees ($1.3 billion). Shares surged as much as 50% shortly after trading began, before stabilizing around a 45% gain by mid-morning on Tuesday.

By 11:15 a.m. local time, LG Electronics India’s market capitalization had reached 1.14 trillion rupees ($12.83 billion) — surpassing its parent company’s valuation of 13.84 trillion Korean won ($9.68 billion).

The stock listed simultaneously on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), making it one of the most closely watched IPOs of the year.

Massive Investor Demand

The IPO saw unprecedented enthusiasm from institutional and retail investors alike. According to exchange data, the issue was oversubscribed more than 54 times, with bids totaling nearly 4.4 trillion rupees ($50 billion).

Qualified institutional buyers (QIBs) led the charge, subscribing to 166 times their allocated quota, while retail investors oversubscribed by 3.55 times. This makes it the most heavily subscribed major Indian IPO since Reliance Power’s 2008 debut, according to market research firm PRIME Database.

The offering was structured as an offer for sale, meaning no new shares were issued. The parent company, LG Electronics, offloaded 101.8 million shares in the process.

A consortium of leading global and domestic investment banks — Morgan Stanley, J.P. Morgan, Axis Capital, BofA Securities, and Citigroup Global Markets India — managed the issue.

A Strong Signal for South Korean Companies in India

This listing marks the second major South Korean company to tap Indian capital markets within a year, following Hyundai Motor India’s blockbuster IPO in October 2024. Analysts see this as a growing trend, as Korean multinationals look to leverage India’s vibrant stock market and booming consumer base.

The Company and Its Market Edge

LG Electronics India, a wholly owned subsidiary of LG Electronics South Korea, designs, manufactures, and markets a wide range of consumer electronics and home appliances, including refrigerators, washing machines, air conditioners, televisions, and smart home devices.

“LG Electronics India stands out as the listed appliance company with the broadest product portfolio and one of the strongest brand reputations across categories,” said Himanshu Dugar, an independent equity research analyst registered with SEBI.

India’s Booming Electronics Market

India’s consumer electronics and home appliances industry is on an accelerated growth trajectory. According to Redseer Strategy Consultants, the market is expected to nearly double from about $75 billion in 2024 to between $130 billion and $150 billion by 2029.

With its strong brand recognition and deep distribution network, LG Electronics India is well-positioned to capture a significant share of this expansion. Analysts expect continued growth driven by rising household incomes, urbanization, and increased adoption of smart technologies.

India’s IPO Boom Continues

The company’s stellar listing adds to India’s growing reputation as one of the world’s hottest IPO markets. According to a recent EY report, India recorded 146 IPOs in the third quarter of 2025, raising $7.2 billion. For the first nine months of the year, the country saw 254 IPOs worth $11.8 billion, with average post-listing returns of 17.5% — far outpacing most global markets.

A Landmark Moment for Investors

LG Electronics India’s stunning debut reflects investor optimism in India’s manufacturing and consumer sectors, as well as global confidence in the country’s capital markets.

With its shares outperforming expectations and its valuation surpassing that of its parent, LG Electronics India’s listing represents a new chapter in India’s equity market success story — and a signal of how powerful the country’s investment appetite has become on the global stage.