The Indian financial markets have seen many massive Initiative Public Offerings (IPOs) in the past that reflect the country’s rapid development and ambitions of the corporate sector. The launching of these IPOs have often been an important moment for companies as well as investors and the economy as a whole. This article provides a comprehensive review of the top 10 biggest IPOs in India with a focus on the size of their issues, the time of listing, as well as their subsequent market performance.
Top 10 IPOS India Till Date 2025
Hyundai Motor India IPO (2024)
Issue Size : Rs27,870.16 crore
Year: 2024
The Hyundai Motor India IPO was the biggest-ever publicly-traded offering ever within India when it went live in the month of October 2024. Hyundai was already a well-known brand in the automobile industry of India was looking to increase its market dominance through this IPO. Despite all the media hype, the stock launched at Rs1,934 a share on the National Stock Exchange, slightly lower than its initial rate of ₹1960.
Life Insurance Corporation (LIC) IPO (2022)
Issue size is Rs20,557.23 crore
Year: 2022
LIC, India’s largest life insurance firm, held one of the highest awaited IPOs in the history of the country. With a large base of policyholders as well as government backing, LIC offered shares within the price range of Rs902 to Rs949 which included discounts for investors who are retail. . As time passed the sentiment of investors about LIC’s stock changed because of concerns over the company’s valuation and its the prospects for growth.
Paytm (One97 Communications) IPO (2021)
Issue Size of Rs18,300 crore
Year: 2021
Summary: Paytm, India’s leading digital payment and financial services platform, jumped into the stock market to great excitement. The IPO was among the biggest in the country and aimed to transform the fintech industry. The stock, however, had the challenge of launching with a huge discount, and then continuing to fall. Despite Paytm’s dominance over electronic payments, investors’ concerns about its profitability and the fierce competition caused huge losses after the post-listing process for shareholders.
Coal India IPO (2010)
Issue Size of the Issue: The issue size is Rs15,200 crore.
Year: 2010
Overview The world’s biggest coal producer Coal India’s IPO was received with a huge amount of excitement. In contrast to other recent large IPOs, Coal India saw a booming debut, with shares soaring 40% higher than the value of the issue. Its IPO was a milestone occasion for the country’s energy sector and is still one of the most successful publicly traded companies of Indian history.
Reliance Power IPO (2008)
Issue Size is: Rs11,700 crore
Year: 2008
Overview Reliance Power’s IPO brought unprecedented enthusiasm from investors which led to an oversubscription of more than 73 times. But the performance post-listing was disappointing, since the stock’s price plummeted after the announcement, causing huge losses for investors in the retail market. Reliance Power’s Reliance Power IPO serves as an illustration of the dangers of hyped public offerings that do not satisfy expectations.
Swiggy IPO (2024)
Issue size: Rs11,327.43 crore
Year: 2024
Food delivery service Swiggy made its debut on the markets by offering a large amount of shares and benefited from its strong reputation and potential for growth in the digital economy of India. The IPO was well-received 3.59 times, which indicates a strong demand from investors. But, the company’s financial challenges and the increasing Zomato’s competition remained major investors’ issues.
General Insurance Corporation (GIC) IPO (2017)
Issue Size Rs11,256.83 crore
Year: 2017
GIC, India’s largest reinsurer, was looking to expand its capital base by launching an IPO. The IPO saw an interest from investors that was moderate which led to a disappointing public market debut. Investors were cautious because of concerns over potential exposure of the business to international risks in the insurance industry.
Oil and Natural Gas Corporation (ONGC) IPO (2004)
Issue Size of Rs10,534 crore
Year: 2004
The ONGC IPO was a major event in the capital markets of India and was one of the first large-scale public offerings. The shares were met with a positive response, with 1.6 percent increase over the subscription. Due to ONGC’s strategic significance in India’s energy industry, the IPO is among the most profitable public offerings in India’s history.
SBI Cards & Payment Services IPO (2020)
The Issue size is Rs10,340.79 crore
Year: 2020
The company is an affiliate to the State Bank of India (SBI) This IPO received a lot of attention from investors. The IPO was a huge success, with an oversubscription of 25.90 times, showing the strength of market demand. But, the pandemic-induced slowdown in the economy has caused problems for creditors, impacting the post-listing process.
New India Assurance Company IPO (2017)
Issue Size Rs9,585.82 crore
Year: 2017
Overview: The state-owned insurance company announced its IPO to increase capital reserves and expand its fund. Despite its well-established market presence the IPO was a success, with a subscriber count of only 1.20 times, which indicates a lack of interest from investors. Post-listing, the performance remained tepid because of concerns over profitability and competition in the market.
Summary :
These IPOs illustrate the dynamism of the Indian capital markets, highlighting both the risks and opportunities for investors. While certain IPOs, such as Coal India and ONGC, generated strong returns, others such as Reliance Power and Paytm, didn’t satisfy expectations. With the increasing interest of investors in India’s expanding economy Future IPOs remain to influence the market, bringing benefits and challenges for the investors.
While India continues to experience a robust growth in its economy as it continues to see a robust economic expansion, the IPO market is likely to expand further, offering promising prospects for both local as well as international investors.