Business
LG Electronics India’s stellar 50% premium listing: $13 billion giant more valuable than South Korean parent! Top 5 takeaways – The Times of India
LG Electronics India on Tuesday had a stellar listing on the stock exchanges NSE and BSE, debuting at a whopping premium of 50% above its share price issue. Trading commenced at Rs 1,715 on BSE and Rs 1,710.10 on NSE, considerably above the Rs 1,140 per share issue price, resulting in day-one returns exceeding 50% for investors.The Rs 11,607-crore public offering consisted solely of shares divested by LG Electronics Inc. The issue garnered overwhelming interest, securing 54-fold oversubscription. The qualified institutional buyers’ segment witnessed 166 times subscription, whilst retail investors’ portion achieved 3.5 times subscription.Before the official listing, the shares attracted strong demand in the grey market, trading at a 31% premium, reflecting strong investor confidence.The debut takes place in India’s second-busiest IPO quarter, though recent major listings, including WeWork India and Tata Capital, experienced relatively modest market debuts.So why is the LG Electronics India listing important and what does it mean for the IPO market in India?
LG Electronics’ Stellar listing
The IPO performance stands as the most impressive among Indian offerings exceeding one billion dollars since 2021, placing the organisation ahead of rivals such as Whirlpool, Voltas and Havells.The rise pushed the organisation’s market valuation beyond other listed Indian consumer durables firms, including Whirlpool of India ($1.7 billion), Voltas ($5.8 billion) and Havells India ($10.4 billion).
LG Electronics India more valuable than South Korean parent company!
Interestingly, LG’s market capitalisation reached Rs 1.16 lakh crore (approximately $13.13 billion), surpassing its South Korean parent LG Electronics Inc’s value of $8-9 billion on the Seoul exchange!According to experts, the company’s success stems from its sensible valuations, market leadership position and clear earnings prospects. LG holds a dominant position in India’s consumer durables sector with its diverse range of home appliances, TVs and ACs, consistently outperforming competitors in profitability and expansion, according to an ET report.Ambit Capital assigned a Buy rating with a 12-month target of Rs 1,820, noting several positive factors supporting the company’s outlook, including localisation, premium product focus, increased exports and GST-driven market recovery.“LG’s under-penetration across categories leaves ample room for growth. The Six City plant will double capacity and boost exports by 4 percentage points by FY28E,” the brokerage said. Their forecast indicates 11% revenue and 13% EBITDA CAGR through FY25-28.The IPO pricing proved appealing to investors. At 35x FY25 earnings, LG presented better value compared to listed competitors trading at 45-60x multiples. Additional factors strengthening investor trust included its debt-free status, consistent ROE exceeding 30%, and stable EBITDA margins above 10%.
LG Stands Tall In Rs 10,000 crore IPO Club
The listing proved exceptionally rewarding for investors and set a new benchmark among India’s Rs 10,000-crore-plus IPOs, where such issues typically struggle to maintain momentum post-listing. LG India recorded the highest day-one premium of 50.4% amongst IPOs exceeding Rs 10,000 crore.Historical data of significant Indian listings reveals diverse outcomes. Coal India’s public offering in 2010, which raised Rs 15,199 crore, remains amongst the successful ventures, beginning 40% higher.
How above Rs 100 billion IPOs fares on listing
In contrast, Reliance Power’s 2008 issue started 17% lower, while Paytm’s Rs 18,300-crore offering in 2021 fell 27% at listing. State-backed enterprises encountered difficulties too, with LIC’s Rs 20,557-crore issue opening 7.8% lower and GIC Re’s Rs 11,257-crore offering starting with a 4.6% decline.Considering these precedents, LG India’s market debut stands out amongst substantial Indian IPOs, reflecting both scale and strong investor confidence.
More IPOs loading – what LG’s stellar listing means
The impressive first-day performance serves as a positive indicator for upcoming Indian corporate listings, particularly following Tata Capital Ltd.’s modest 1.4% increase during its debut in the nation’s largest initial public offering this year.Over the past two years, India has emerged as one of the world’s most active markets for public listings, attracting international investors keen to participate in its rapidly expanding consumer market.October is poised to set a record for Indian IPOs, with anticipated proceeds exceeding $5 billion. The market has closely monitored both LG and Tata’s offerings as indicators of stability in one of the world’s most vibrant IPO markets.
Record IPOs Set for October
According to Bloomberg data, these recent offerings have pushed the total IPO proceeds in India beyond $15 billion this year. The surge in significant offerings has generated confidence that the total could exceed last year’s milestone of nearly $21 billion. Jefferies Financial Group previously indicated that India’s primary market is positioned for substantial growth following a quiet start, projecting fundraising of up to $18 billion in the latter half of the year.
IPOs a Hit Even As Nifty, Sensex Still Below Highs
Amidst international market fluctuations, India maintains its status as the second-largest IPO market globally, following the United States. This position is supported by sound economic fundamentals, improved regulatory framework, and increased participation from retail investors.Although foreign investors have been consistently selling in the secondary market, they maintain substantial confidence in India’s leading growth narrative by participating as committed anchor investors in companies’ initial public offerings.The Indian IPO sector demonstrates exceptional vitality, generating approximately 1% of the nation’s GDP, R. Venkataraman, Managing Director of IIFL Capital told ET recently.The prevailing robust valuations and conducive market environment are allowing business owners to secure capital for expansion whilst partially realising their investments.Experts are of the view that companies at their listing stage are typically in their early growth phase, potentially offering higher returns compared to established listed entities, according to Shah. Additional advantages of IPOs include minimal price impact from bulk purchases and opportunities to invest in unique business models at competitive valuations.(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)
The Eli Lilly logo appears on the company’s office in San Diego, California, U.S., Nov. 21, 2025.
Mike Blake | Reuters
Eli Lilly on Monday said it is lowering the cash prices of single-dose vials of its blockbuster weight loss drug Zepbound on its direct-to-consumer platform, LillyDirect, building on efforts by the company and the Trump administration to make the medicine more accessible.
The announcement also comes weeks after chief rival Novo Nordisk unveiled additional discounts on the cash prices of its obesity and diabetes drugs.
Starting Monday, cash-paying patients with a valid prescription can get the starting dose of Zepbound vials for as low as $299 per month on LillyDirect, down from a previous price of $349 per month. They can also access the next dose, 5 milligrams, for $399 per month and all other doses for $449 per month, down from $499 per month across those sizes.
Zepbound carries a list price of roughly $1,086 per month. That price point, and spotty insurance coverage for weight loss drugs in the U.S., have been significant barriers to access for some patients.
Eli Lilly’s announcement comes just weeks after President Donald Trump inked deals with Eli Lilly and Novo Nordisk to make their GLP-1 drugs easier for Americans to get and afford. The agreements will cut the prices the government pays for the drugs, introduce Medicare coverage of obesity drugs for the first time for certain patients and offer discounted medicines on the government’s new direct-to-consumer website launching in January, TrumpRx.
But Eli Lilly’s deal with Trump centers around lowering the prices of a different form of Zepbound – a multi-dose pen – after it wins Food and Drug Administration approval.
That means Eli Lilly’s Monday announcement around cutting prices on the existing single-dose vials could allow more patients to get discounted treatments more quickly.
“We will keep working to provide more options — expanding choices for delivery devices and creating new pathways for access — so more people can get the medicines they need,” said Ilya Yuffa, president of Lilly USA and global customer capabilities, in a statement.
Eli Lilly’s stock, which has climbed more than 36% this year, fell nearly 2% on Monday. Its meteoric rise due to the success of Zepbound and its diabetes injection Mounjaro vaulted it to becoming the first health-care company to hit a $1 trillion market value last month. Though cutting prices means lower revenue per medication sold, Eli Lilly’s sales — and shares — have continued to soar through past pricing announcements as demand balloons.
With single-dose vials, patients need to use a syringe and needle to draw up the medicine and inject it into themselves. Eli Lilly first introduced that form of Zepbound in August 2024.
It’s unclear how many patients are currently using single-dose vials of Zepbound. But Eli Lilly previously said that direct-to-consumer sales now account for more than a third of new prescriptions of Zepbound.
Novo Nordisk earlier this month lowered the price of its obesity drug Wegovy and diabetes treatment Ozempic for existing cash-paying patients to $349 per month from $499 per month. That excludes the highest dose of Ozempic.
The company also launched a temporary introductory offer, which will allow new cash-paying patients to access the two lowest doses of Wegovy and Ozempic for $199 per month for the first two months of treatment.
The Oil and Gas Regulatory Authority (OGRA) has approved a fresh increase in the price of liquefied petroleum gas (LPG), raising the cost for both domestic consumers and commercial users.
According to the notification issued, the LPG price has been increased by Rs7.39 per kilogram, setting the new rate at Rs209 per kg for December. As a result, the price of a domestic LPG cylinder has risen by Rs87.21, bringing the new price to Rs2,466.10.
In November, the price of LPG stood at Rs201 per kg, while the domestic cylinder was priced at Rs2,378.89.
The latest price hike is expected to put additional pressure on households already grappling with rising living costs nationwide.
New Delhi: The taxable value of all supplies under GST surged by a robust 15 per cent during September-October this year, compared to the same period in 2024 due to sharp increase in consumption triggered by the tax rate cuts on goods across sectors that kicked in from September 22, according to official sources.
The growth in the same two-month period last year was 8.6 per cent. “This surge in taxable value during ‘Bachat Utsav’ demonstrates strong consumption uplift, stimulated by reduced rates and improved compliance behaviour,” a senior official said.
He pointed out that the growth has especially been strong in sectors where rate rationalisation was implemented, such as FMCG, pharma goods, food products, automobiles, medical devices and textiles. In these sectors, the taxable value of supplies has seen significantly higher growth, confirming that lower GST rates translated directly into higher consumer spending.
“It vindicates our strategy that reducing rates on essentials and mass-use sectors would create demand-side buoyancy — a Laffer Curve–type demand uplift,” he explained.These trends confirm that GST next-gen reforms have not disrupted revenue stability, and that consumption-side buoyancy has begun to translate into higher taxable value in key sectors.
This growth is in value terms which means that since GST rates were lower, the growth in volume terms will be even higher. It is clearly visible that while the Next Gen Reforms resulted in significant Bachat — increased consumption, industry has been very proactive in passing on the GST savings to the final consumers and ensuring that there is no supply side deficiency.
As GDP private consumption data will be released much later, GST taxable value serves as the most reliable real-time proxy for consumption, and the current numbers clearly indicate sustained demand expansion, the official added.
Eli Lilly cuts cash prices of Zepbound weight loss drug vials on direct-to-consumer site
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