Hyundai Motor India Sets Record with ₹27,870 Crore IPO in 2024
Hyundai Motor India's IPO marks a significant milestone in India's financial landscape, while Jio Platforms prepares for its upcoming offering.
Hyundai's IPO is the largest in India, raising ₹27,870 crore.
LIC and Paytm's IPOs faced challenges, listing below their issue prices.
Jio Platforms aims to raise up to ₹30,213 crore with its upcoming IPO.
Hyundai Motor India has launched the largest initial public offering (IPO) in India, raising ₹27,870 crore in October 2024. This significant offering follows a series of major IPOs in the country, starting with Coal India's share sale in 2010. Jio Platforms is set to join this elite group with its own IPO scheduled to open for bidding on October 21, 2026.
The IPO landscape in India has seen varied outcomes over the years. Hyundai's offering, which was a pure offer for sale, was oversubscribed more than two times overall, but retail investors only subscribed to half of the allocated portion. The stock debuted at ₹1,960 but closed its first trading day 7.1% lower, raising concerns about investor sentiment. Similarly, LIC's IPO in 2022 faced challenges, opening at ₹872 against an issue price of ₹949, reflecting a discount that disappointed many investors.
In 2022, the government reduced its stake sale in LIC from 5% to 3.5% due to volatile market conditions, ultimately raising around ₹20,557 crore. The policyholder quota was oversubscribed on the first day, but the stock's performance post-listing was underwhelming, closing slightly above its opening price. Paytm's IPO in 2021, which raised approximately ₹18,300 crore, also struggled, highlighting a trend of cautious investor behavior in recent IPOs.
As of October 2026, a total of 96 IPOs have collectively raised over ₹1.1 lakh crore, with Jio Platforms' upcoming offering expected to contribute significantly. The company has set a price band of ₹1,065 to ₹1,119 per share, with plans to issue up to 27 crore new shares. Proceeds from this IPO are primarily aimed at reducing debt at Reliance Jio Infocomm, indicating a strategic move to strengthen the telecom sector.
Looking ahead, Jio's IPO is anticipated to attract significant attention as it prepares to list later this month. The performance of Hyundai and LIC's IPOs has led investors to become more discerning regarding valuations and governance, as noted by financial analysts. The upcoming Jio offering will be closely watched to see if it can reverse the trend of recent IPOs listing below their issue prices.
