The biggest IPOs in India’s history – LIC to Paytm, companies that have raised the most funds

• Reliance Jio and Hyundai are expected to hit Dalal Street with their stock market debut.
• The two companies are expected to break records and emerge as the biggest IPOs in Indian history.
• Here are the top five biggest IPOs in India’s history.

India has witnessed several significant initial public offerings (IPOs) over the years that have not only redefined the country’s stock market landscape but also showcased its growing economic prowess.

From the massive public listings of state-owned enterprises such as Life Insurance Corporation (LIC) to debuts of private sector giants such as One97 Communications, these IPOs have played a crucial role in mobilising capital, driving economic growth, and expanding the investor base in the country.

Here are the biggest IPOs in India’s history:

Biggest IPOs in India

Source: BSE, current price as of July 12, 2024.

Reliance Jio, Hyundai IPOs to break records

While the above companies have created major records, they are expected to be soon broken.

Korean automaker Hyundai recently filed the draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) in what would have been the country’s biggest IPO. The automaker plans on raising around $3 billion (₹25,000 crore) through its IPO.

If the listing gets the nod from the regulator, it will be the country’s biggest IPO, beating the state-owned Life Insurance Corporation of India’s (LIC) $2.7 billion listing in 2022.

However, even before the news could settle, news about Reliance Jio’s IPO surfaced. As per existing rules, companies that are valued at ₹1 lakh crore or more need to sell at least 5% during an IPO. Jio is currently valued at $133 billion (₹11.11 lakh crore) as per Jefferies. A 5% stake sale would put the IPO at around ₹55,000 crore, beating LIC’s ₹21,000 crore IPO. This number could go further up by the time the company makes its stock market debut.

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