LG India Seen Poised to Rise in Debut After $1.3 Billion IPO

LG Electronics India Ltd. appears to be poised to rise in its Mumbai trading debut on Tuesday after investors flocked to its initial public offering, making it the country’s most oversubscribed billion-dollar deal of its kind in 17 years.

Shares of the home-appliance maker, a unit of South Korea’s LG Electronics Inc., traded about 30% above the IPO price of 1,140 rupees on the gray market on Monday, according to data from Investorgain.com and IPOcentral.in. Such a pop could make LG’s India unit boast a market value exceeding $11 billion, higher than that of its Korean parent.