India, Oct. 14 -- A 50% surge in LG India's share price on listing day has ascribed the home-appliance maker a market capitalisation higher than its parent in South Korea.

Shares of LG Electronics India Ltd. rose 50.4% over its IPO price of Rs.1,140 apiece to list at Rs.1,715 each on the BSE, notching up in the process a market capitalisation of $13.07 billion, or Rs.1,16,049 crore. In comparison, LG Electronics Inc. had a valuation of roughly $9 billion in Seoul, according to Korea Exchange (Kosdaq).

LG India's market capitalisation is now also higher than listed peers Whirlpool India Ltd., Voltas Ltd. and Havells India Ltd., which are valued between $1.7 billion and $10.4 billion.

LG India's listing-day pop was the best for a billion...