LG India Jumps 48% in Trading Debut After $1.3 Billion IPO (2)

LG Electronics India Ltd. soared 48% in its Mumbai trading debut after investors flocked to its initial public offering, marking the best listing day performance for a deal of its size in India.

The unit of South Korea’s LG Electronics Inc. climbed to 1,690 rupees in Mumbai on Tuesday, versus the IPO price of 1,140 rupees. That lifted the home-appliance maker’s market value to about $13 billion, higher than that of its Korean parent.

More broadly, the opening-day surge bodes well for other Indian companies planning to go public, particularly in the wake of Tata Capital Ltd. only rising 1.4% ...