LG Electronics India marked its debut on the Indian stock market with a significant listing that brought in 1.8 trillion won in proceeds for the company’s headquarters. The listing ceremony took place at the National Stock Exchange of India (NSE) in Mumbai, attended by top executives including LG Electronics CEO Cho Joo-wan and NSE CEO Ashish Chauhan.
LG Electronics offered a 15 percent stake in LG Electronics India through an offer for sale, which garnered substantial interest in the market. The subscription price band was set at 1,140 rupees per share, resulting in bids totaling 54 times the shares on offer, reflecting investor confidence in the company’s potential.
Shortly after its debut, LG Electronics India’s stock price surged by 45 percent, reaching around 1,600 rupees. This surge in the stock price contributed to the company’s market capitalization exceeding 12 trillion won, significantly boosting LG Electronics’ financial standing.
The 1.8 trillion won raised through the listing will be utilized by LG Electronics to fuel new growth initiatives and investments in future businesses, enhancing its corporate value and shareholder returns. This move aligns with the company’s commitment to strengthening its presence in the Indian market, which has been a key focus area for LG Electronics.
LG Electronics CEO Cho Joo-wan emphasized the strategic importance of India in the company’s global expansion plans, highlighting the country’s potential as a hub for LG Electronics’ operations in the Global South. The company aims to leverage India’s high growth potential and increasing middle-income households to drive its business growth in the region.
As part of its renewed commitment to the Indian market, LG Electronics unveiled its “Make for India” vision, focusing on tailored strategies to meet the diverse needs of Indian consumers. The company showcased a new lineup of home appliances designed specifically for the Indian market, manufactured at its production facilities in Noida and Pune.
LG Electronics’ “Make in India” strategy aligns with the government’s push for local manufacturing, with the company investing in expanding its local value chain to support India’s economic growth. The establishment of a new manufacturing plant in Sri City is expected to create thousands of direct and indirect jobs, further solidifying LG Electronics’ presence in the country.
Additionally, LG Electronics plans to enhance LGEI’s role as a research and development hub, focusing on advanced technologies such as artificial intelligence and platform development. The company’s “Make India global” strategy aims to position India as a key growth market and a trusted partner in its global expansion efforts.
Through these strategic initiatives, LG Electronics aims to deepen its roots in India, a market with immense growth potential, and strengthen its position as a trusted corporate brand. The company’s commitment to tailored strategies and local investments underscores its long-term vision for sustainable growth and success in the Indian market.
📰 Related Articles
- India’s Feminine Hygiene Market Soars: Growth Trends & Innovations
- How is Bombay Stock Exchange Driving India’s Financial Market Growth?
- Xerox Boosts Market Presence with Lexmark Acquisition, Stock Surges
- Wichita’s Village Flea Market Closes After 42 Years
- Why Bombay Stock Exchange Closes on Maharashtra Day and Market Holiday Impact