LG Electronics shares created a sensation on the very first day. The company’s IPO made huge waves earlier, and now its stock market debut has created the same kind of buzz. On Tuesday, LG Electronics shares were listed on both the BSE and NSE. Through its IPO, the company raised ₹11,607 crore. Each share was allotted to investors at a maximum price of ₹1,140. Compared to the offer price, the shares were listed at ₹1,715, registering a 50% premium on debut. The IPO of LG Electronics received bids worth a whopping ₹4.4 lakh crore, which is a huge record compared to the ₹11,607 crore the company intended to raise.
Not just that — in the history of Indian IPOs, the bids received for LG Electronics have set a new record. Until now, the record for the highest amount of bids belonged to Bajaj Housing Finance, whose IPO last year received bids worth ₹3.2 lakh crore. Investors showed strong interest in LG Electronics’ IPO from the beginning. The company’s solid track record and the strong market buzz surrounding it contributed to this phenomenal response. The same enthusiasm was visible during its listing as well.
A day before LG’s listing, Tata Capital, a Tata Group company, had its IPO debut on Monday. However, its shares did not deliver notable listing gains for investors. They opened at ₹330, just ₹4 above the offer price of ₹326. Compared to Tata Capital, LG Electronics provided significant listing gains to its investors. As of 10:20 a.m. on the BSE, LG Electronics shares were trading at ₹1,652. It remains to be seen at what price the shares will settle by the end of the trading session.