India’s IPO market has witnessed several large public issues across sectors, reflecting the growing role of equity markets in helping companies and existing shareholders raise substantial capital.
While the size of an IPO often attracts significant investor attention, the listing performance of these large issues has varied, influenced by market conditions, valuations and investor sentiment.
India’s IPO market has seen companies come to the public market with increasingly large issue sizes, giving investors access to some of the country’s biggest businesses. However, large IPOs can also face pressure at listing if valuations, market conditions or investor sentiment are unfavourable.
While some of these companies may see muted or weak listing performances initially, their longer-term performance can depend on business execution, earnings growth and how effectively they use the public-market platform.
Hyundai Motor India
Hyundai Motor India raised around Rs. 27,858.75 crore through its IPO in October 2024, making it the largest IPO in India. The issue was entirely an offer for sale (OFS) by its parent, Hyundai Motor Company, meaning the proceeds went to the selling shareholder rather than the company. The shares got listed on NSE and BSE on Oct 22, 2024. Hyundai Motor India Ltd IPO listed on NSE & BSE with a listing loss of about -1.3% and closed at a loss of 7.1% from its issue price of Rs. 1,960 per share.
NSE
The National Stock Exchange (NSE) raised around Rs. 22,561.57 crore through its IPO in September 2026, making it India’s second-largest IPO. The issue is also an OFS, with existing shareholders selling their stake in the exchange. The allotment for the NSE IPO is expected to be finalised on Sep 22, 2026. NSE IPO will list on the BSE with a tentative listing date fixed as Sep 24, 2026.
LIC of India
Life Insurance Corporation of India (LIC) raised around Rs. 20,557.23 crore through its IPO in May 2022. The issue was part of the government’s disinvestment programme and involved the sale of a stake in the country’s largest life insurer. The company listed at ₹867.20 on BSE, an 8.62% discount, and ₹872.00 on NSE, an 8.11% discount to its issue price.
One 97 Communications (Paytm)
Paytm, operated by One97 Communications, raised Rs. 18,300 crore through its IPO in November 2021. The issue consisted of a Rs. 8,300 crore fresh issue and Rs. 10,000 crore OFS, making it one of India’s largest technology-sector IPOs. The shares got listed on NSE and BSE on Nov 18, 2021. Paytm listed at ₹1,950 per share on NSE, a 9.30% discount, and ₹1,955 per share on BSE, a 9.07% discount to its issue price.
Tata Capital
Tata Capital raised around Rs. 15,511.87 crore through its IPO in October 2025, making it one of India’s largest public issues. The IPO helped bring the Tata Group’s financial services business to the listed market. The issue comprised a fresh issue of 21 crore shares worth Rs. 6,846 crore, along with an offer for sale of 26.58 crore shares aggregating to Rs. 8,665.87 crore. The shares got listed on NSE and BSE on Oct 13, 2025. Market performance by Tata Capital was rather dull on 13th October, 2025, making only a small gain of 1.23% from its initial public offering price.