‘Ye, ek vitteey uplabdhi nahin hai’: LG MD Hindi goes viral as India shares rise 50%

LG Electronics India made a successful debut on the Indian bourses on Tuesday – but it was managing director Hong Ju-geon’s speech in Hindi, and not just the 50% rise in the stock, that stole the show.

Jeon, who has led the Indian arm since January 2023, surprised investors at the NSE listing ceremony by delivering his speech entirely in Hindi. “Yah IPO, LG ke liye keval ek vitteey uplabdhi nahin hai…” he began, thanking NSE CEO Ashish Chauhan and other dignitaries. This gesture received huge applause and quickly spread across social media platforms.

But the market’s performance has been equally astonishing. LG Electronics India was listed at INR 1,710.10 on the NSE and INR 1,715 on the BSE – a 50% jump from its issue price of INR 1,140. The stock closed the first day at INR 1,682.80, with INR 6.9 crore traded and INR 11,651 crore in total turnover.

By market close, LG Electronics India’s market capitalization stood at Rs 1.14 lakh crore – surpassing its South Korean parent’s valuation of $9.2 billion. The value of the Indian unit is now more than $13 billion.

On Wednesday, shares continued their rise, rising 1.7% to Rs 1,718 by 9:20 am.

Analysts are optimistic. Nomura initiated coverage with a ‘buy’ rating and a target price of INR 1,800, citing low hardware penetration in India and growing franchises. It is expected that the return on equity will reach 31% and 56% on investment in the fiscal year 2028.

Other brokerages echoed this optimism: Emkay set a target of Rs 2,050 (80% upside from the IPO price), while ICICI Securities, Motilal Oswal and others expected returns in the range of 49-58%.

The IPO, priced between Rs 1,080 and Rs 1,140, ​​was subscribed 54 times, led by institutional investors offering 160 times their stake. The Rs 3,475-crore offer was an all-offer for sale (OFS) of LG Electronics Inc.

LG Electronics India is now the second South Korean company to list in India, after Hyundai Motor India’s debut in 2024.