Shares of LG Electronics India Ltd. made a strong market debut on Tuesday, October 14, listing at ₹1,705 — a 50% premium over its issue price of ₹1,140 per share. The IPO became the most subscribed in India’s history, receiving bids worth over ₹4.4 lakh crore against the issue size of ₹11,607 crore.
On listing day, six brokerage firms initiated coverage on the stock, all recommending a “buy” rating.
Motilal Oswal set a target price of ₹1,800, suggesting a 58% upside from the issue price, and over ₹2,000 in its bullish scenario. The firm sees LG well-positioned in India’s expanding consumer electronics market.
Equirus assigned a “Long” rating with a ₹1,705 target and projects revenue, EBITDA, and PAT to grow at 11%, 13%, and 9% CAGR respectively from FY25. ICICI Securities also issued a “buy” rating with a ₹1,700 target, citing LG’s brand strength, distribution reach, and manufacturing capabilities.
PL Capital gave a ₹1,780 target, expecting 9.9%-10.9% growth in key financials. Antique Stock Broking set a ₹1,725 target, noting LG’s solid fundamentals and supportive policy environment. The stock continues to trade near ₹1,705, maintaining its strong debut momentum.