'Ye, ek vitteey uplabdhi nahin hai': LG MD's Hindi goes viral as India shares extend 50% pop

LG Electronics India made a blockbuster debut on the Indian stock exchanges Tuesday — but it was Managing Director Hong Ju Jeon’s Hindi speech, not just the 50% stock surge, that stole the spotlight.

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

But the market performance was just as striking. LG Electronics India listed at ₹1,710.10 on the NSE and ₹1,715 on the BSE — a 50% jump over its ₹1,140 issue price. The stock closed Day 1 at ₹1,682.80, with 6.9 crore shares traded and ₹11,651 crore in total turnover.

By market close, LG Electronics India had a market capitalization of ₹1.14 lakh crore — surpassing its South Korean parent’s $9.2 billion valuation. The India unit is now worth over $13 billion.

On Wednesday, shares continued their climb, rising 1.7% to ₹1,718 by 9:20 a.m.

Analysts are bullish. Nomura initiated coverage with a "buy" rating and a ₹1,800 price target, citing India’s low appliance penetration and growing premiumisation. It projects a 31% RoE and 56% RoIC for FY28.

Other brokerages echoed the optimism: Emkay set a ₹2,050 target (80% upside from IPO price), while ICICI Securities, Motilal Oswal, and others forecast returns between 49–58%.

The IPO, priced between ₹1,080–₹1,140, was subscribed 54 times, led by institutional investors who bid 160x their quota. The ₹3,475 crore offer was fully an offer for sale (OFS) by LG Electronics Inc.

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