LG Electronics India surged 50.4% in its trading debut on October 14 and valued the company at $13.07 billion, eclipsing its South Korean parent's market capitalisation of nearly $10 billion, as investors piled into the country's most bid-for IPO since 2008.

Shares of the Indian arm of LG Electronics rose to Rs 1,714.90 after it listed at Rs 1,710.1 on the National Stock Exchange of India.

Its issue price was at Rs 1,140.

Brokerage Prabhudas Lilladher started coverage on the stock with "buy" rating and gave a price target of Rs 1,780, which implies up to 4% upside from current market price.

Prabhudas Lilladher says company's extensive distribution network, premium brand positioning ensures market leadership across categories.

It sees FY25–28 revenue, EBITDA, profit to grow at 9.9%,

See Full Page