LG Electronics India share price: Stock lists at 50% premium on NSE; here's how much investors made per lot

The stock listed at ₹1,710.10 apiece on the National Stock Exchange (NSE), a premium of 50.01% over the IPO issue price of ₹1,140 per share.

At 12:50 pm, the scrip fell 1.27% to ₹1,688.4. Its market capitalisation stands at ₹1,14,685.38 crore.

On the BSE, the stock started trading at ₹1,715, up 50.44% from the issue price.

LG Electronics India share price: Here's how much investors made per lot

The IPO, which aimed to raise ₹11,607.01 crore, was entirely an offer for sale (OFS) of 10.18 crore shares, representing about 15% stake, by the South Korea-based promoter LG Electronics Inc. There was no fresh issue component.

As it was only an OFS, LG Electronics India will not receive any IPO proceeds, and the proceeds will go to the South Korean parent.

It had a price band of ₹1,080 to ₹1,140 per share.

This is the second South Korean firm to enter the Indian stock market, following the listing of Hyundai Motors India Limited in October last year.

Before the IPO, the company mobilised ₹3,475 crore from anchor investors, including the Singapore Government, BlackRock Global Funds, Abu Dhabi Investment Authority, Goldman Sachs, Government Pension Fund Global, Fidelity Funds, SBI Mutual Fund (MF), ICICI Prudential MF, HDFC MF, Kotak MF, HDFC Life Insurance Company, ICICI Prudential Life Insurance Company and SBI Life Insurance Company.

LG Electronics India, a leading player in major home appliances and consumer electronics, sells products to both business-to-customer (B2C) and business-to-business (B2B) customers in India and abroad. It also offers installation, repair, and maintenance services for all its products.

With manufacturing facilities located in Noida and Pune, it sells products, including washing machines, LED TV panels, inverter air conditioners, refrigerators and microwaves.

Axis Capital, Morgan Stanley India Company, Citigroup Global Markets India, BofA Securities India and J.P. Morgan India were the book-running lead managers to the offering.