Subscribe for LG Electronics India Ltd IPO; Ajcon Global

Ajcon Global, LG Electronics India Ltd

LG Electronics India Ltd. (LGEIL) has been the number one player in major home appliances and consumer electronics (excluding mobile phones) in India for the six months ending June 30, 2025, CY2024, CY2023, and CY2022 based on the market share (in terms of value) in the offline channel. According to the market share (in terms of value), which accounts for roughly 78% and 77% of the major home appliances and consumer electronics market in India in terms of value during the same period, it is also the market leader in India across a number of product categories, including washing machines, refrigerators, panel televisions, inverter air conditioners, and microwaves.

Valuation and Outlook

At the upper price band of ₹1140, the issue is valued at a P/E multiple of ~35.12x on its FY25 EPS of ₹32.46 post IPO. We give a ‘SUBSCRIBE’ rating to the issue for the following reasons.