Shares in LG Electronics India soared 50 per cent on their market debut on Tuesday, after raising more than $1 billion in the country鈥檚 third-biggest initial public offering of the year.
The South Korean appliance maker鈥檚 India unit opened at 1,710.1 rupees on the National Stock Exchange 鈥� compared with a 1,140 rupees issue price 鈥� before paring some of the gains in early trading.
India鈥檚 stock market has underperformed compared with Asian rivals this year, but a vast retail investor base 鈥� in the world鈥檚 most populous country 鈥� and ample domestic liquidity still make it a key fundraising hub.
Start-ups and companies have raised more than $12 billion from IPOs so far this year, stock exchange data shows, and that is expected to rise over the next three months.
