LG Electronics India made a remarkable stock market debut on October 14, soaring 50.4% and reaching a valuation of $13.07 billion (Rs 1.15 lakh crore), surpassing the market capitalization of its South Korean parent, which stands at around $10 billion (Rs 8,800 crore). The stock listed at Rs 1,710.1 on the NSE and rose to Rs 1,714.90, compared to its IPO issue price of Rs 1,140. This marks the best debut for a billion-dollar IPO since Eternal in 2021.
Brokerage Prabhudas Lilladher initiated coverage with a “buy” rating and a target price of Rs 1,780, citing strong brand positioning and widespread distribution. It projects revenue, EBITDA, and profit growth of 9.9%, 10.9%, and 9.3% respectively from FY25–28, driven by capacity expansion, AMC and B2B growth, and local sourcing.
Motilal Oswal also recommended a “buy” with a Rs 1,800 target, valuing the stock at 40x FY28 EPS due to strong return ratios and localization efforts. LG’s $1.3 billion IPO attracted bids worth $50 billion, becoming India’s most subscribed IPO since 2008, outperforming major listings like LIC, Paytm, and Zomato.
