LG Electronics Shares Plunge 4% to Record Low After Lock-in Expiry

• LG Electronics India shares plummeted over 4% to a record low of ₹1392.80 today, currently down 2.68% at ₹1418.70 on BSE.
• The sharp decline is attributed to the expiry of a three-month lock-in period for approximately 1.52 crore shares (2% of outstanding equity).
• Brokerage firm Avendus Spark initiated coverage with a 'Reduce' rating and a target price of ₹1536, citing increased competition.
• The company's IPO shares were issued at ₹1140, listed at a 50% premium, but have now fallen nearly 20% from their record high of ₹1736.40.
• The lock-in expiry allows shareholders to book profits on shares valued at approximately ₹2,215 crore.

Why It Matters: LG Electronics India shares hit a record low due to lock-in expiry and brokerage downgrade.