The shares of LG Electronics India Ltd. will be in focus on Wednesday’s trade as strong investor demand around the stock continues, especially after a successful listing on Tuesday.
The Indian arm of the home appliance and consumer electronics company debuted on the stock market with a premium of 50% on both NSE and BSE.
The stock listed at Rs 1,710 on the NSE against the issue price of Rs 1,140, reaching an intraday high of Rs 1,749. LG Electronics India closed Tuesday’s trading session at Rs 1,689, marginally lower than the listing price.
Nevertheless, the attractive premium meant that the market capitalisation of LG Electronics’ India arm surpassed the value of its parent company, Reuters reported.
LG Electronics India also became the most heavily subscribed major Indian IPO since Reliance Power’s listing in 2008.
