Dream debut: LG Electronics’ shares jump over 48%

New Delhi: Shares of LG Electronics India Ltd on Tuesday made a stunning market debut and ended with a premium of over 48 per cent, against the issue price of Rs 1,140.

The stock started trading at Rs 1,715, surging 50.43 per cent from the issue price on the BSE. During the day, it zoomed 52.31 per cent to Rs 1,736.40. Shares of the firm ended at Rs 1,689.40, up 48.19 per cent.

On the NSE, the stock made its market debut at Rs 1,710.10, registering a premium of 50 per cent. Shares of the firm later ended 48.23 per cent higher at Rs 1,689.90. The company’s market valuation stood at Rs 1,14,671.81 crore.

In volume terms, 78.56 lakh shares of the firm were traded on the BSE and 687.94 lakh shares exchanged hands on the NSE during the day.

The initial public offering of LG Electronics India Ltd received 54.02 times subscription on the final day of bidding on Thursday, driven by overwhelming participation from institutional buyers.

The Rs 11,607-crore IPO had a price band of Rs 1,080 to Rs 1,140 per share.

This is the second South Korean company to tap the Indian stock market, following the listing of Hyundai Motors India Ltd in October last year.