LG Electronics India Ltd. made a strong debut on the National Stock Exchange on Tuesday. However, apart from the 50% premium, another important highlight from the listing ceremony was LG India's managing director Hong Ju Jeon's speech.
The managing director delivered his entire speech in Hindi instead of choosing English or Korean, making it a listing to remember. In his speech he thanked NSE CEO Ashishkumar Chauhan, the government of India and LG Electronics' partners for believing in the company's vision.
He also said that this will be a new beginning and the company plans to take this new journey along with Indians.
VIDEO | Mumbai: LG Electronics India MD Hong Ju Jeon speaks in Hindi during the listing ceremony of LG Electronics India on the National Stock Exchange (NSE).#NSE #LGElectronicsIndia
(Full video available on PTI Videos - https://t.co/n147TvrpG7) pic.twitter.com/aG7EnBdXU7“LG MD giving his IPO address in Hindi... rare for a South Korean company chief ...signs of going local completely,” a X user wrote.
Jeon, who was appointed MD of LG Electronics India in January 2023. However, prior to that Jeon served as subsidiary president for the Gulf region and held senior roles in Iraq, Jordan, Lebanon, and Syria.
“India is a growing economy and is an interesting market with vast demographics therefore, we aim to further strengthen our consumer base by introducing product portfolio that is developed basis the insights of the consumers," he said at the time of appointment.
The shares of LG Electronics' IPO debuted at a 50% premium over the issue price at Rs 1,719 at the NSE. The shares have been listed on the BSE with a 50.44% premium at Rs 1,715. The IPO was one of the biggest issues of 2025 and created history by becoming the first IPO in India to cross the Rs 4 lakh crore mark in total subscription value.
The Rs 11,607 crore IPO was a complete Offer-for-Sale by the Korean parent, LG Electronics Inc. No fresh capital was raised for LG India's operations; thus, the proceeds from the IPO went entirely to the selling shareholder.
The three-day public issue received bids for 385 crore shares against 7.13 crore shares on offer, resulting in an overall subscription of 54.02 times. The allotment status for the IPO was finalised on Friday, and refunds and credit of shares were also completed by Monday night.
Multiple brokerages including Nomura, Motilal Oswal and Ambit have initiated coverage on LG Electronics India Ltd. with a ‘Buy' rating and a target price of Rs 1,800, implying a 58% upside from its IPO price of Rs 1,140. The brokerages see LGI as a strong play on India's mass premiumisation trend, export potential, and B2B expansion.
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