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Think Initial Public Offers (IPOs) are a sure-shot, quickfire method to make a quick buck? If so, then investing in some of India's biggest IPOs to date would have created multiple millionaires. However, if the data is to be believed, 18 out of India's top 30 IPOs by way of size have failed to deliver on the returns front. Recent data from Capitalmind PMS suggests that of all the mega IPOs India has seen in the past 2 decades, only 12 IPOs i.e. stocks of 12 companies have delivered more returns that what you would have received, had you bought and held your investments in Nifty500(which invests in biggest 500 companies by market size). Infact, Paytm (54%), <keyword id="20024191" type="General" weightage="20" keywordseo="Reliance-Power" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Power" meta.hostid="261" meta.entityid="Reliance Power">Reliance Power</keyword> (81%), General Insurance Corporation (2%) actually generated negative total returns to date. The only outliers in the list of top 10 IPOs were Zomato (listed in July 2021) and Coal India (listed in April, 2010), which managed to generate excess returns i.e. more than what was generated by Nifty500. While Zomato's total return to date, which is considered a comprehensive gauge of a stock's profitability, stands at 265%, Coal India total returns are a massive 443%. In these cases, had you simply bought and held the Nifty500 index for a similar duration, your returns would've been 73%, and 435% respectively. Also, 5 of the biggest IPOs India has ever seen (Bajaj Housing Finance, Bharti Hexacom, Brainbees, Ola Electric) have come in the last 2 years. In some cases, having stayed put in your index investments would have yielded you far better returns. Consider this, FSN E-Commerce, Nykaa's parent company, listed on the exchanges on November 2021. Its total returns till date have been 2%, while had you invested in Nifty500 index, your returns would've been 53%. Similarly, the total returns to date on Bandhan Bank's stock, which listed in March 2018, was a negative 43%. But, the index has delivered a whopping 163% returns during the same time. Hits and Misses <table class="redcator-table-advance"><tbody><tr><td>Company Name</td><td>Total Returns to Date (In %)</td><td>CNX (Nifty500) Returns (In %)</td></tr><tr><td>Reliance Power (Feb 2008)</td><td>-81</td><td>961</td></tr><tr><td>Zomato (July 2021)</td><td>265</td><td>73</td></tr><tr><td>Gland Pharma (November 2020)</td><td>14</td><td>124</td></tr><tr><td>NHPC (September 2009)</td><td class="se-table-selected-cell">389</td><td>961</td></tr><tr><td>Indian Railways Finance Corporation (January 2021)</td><td>582</td><td>109</td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: CapitalMind PMS <h2>Surge in IPOs? Not really </h2>It is impossible to overlook the sheer number of public offerings seen in the Indian markets over the past 2 years. Around 600 share sale offers have already hit the market since 2023. Out of these, 335 have come in this year, as of October 2024. While over Rs 50,000 crores have been raised by these share sales so far since 2023, only 22% of these funds raises have come from companies who are hitting the market for the first time i.e. bringing out their IPOs. The rest have come from already listed companies seeking to raise more funds. The biggest IPO that India has seen to date, that of <keyword id="19906087" type="General" weightage="20" keywordseo="Hyundai" source="keywords" meta.keywordsubtype="org" meta.entityname="Hyundai" meta.hostid="261" meta.entityid="Hyundai">Hyundai</keyword> Motor India, closes for subscription today. With an offer size of Rs 27,870.16 crore, it is 35% bigger than the previous biggest IPO in the country(LIC in May 2022). As of 12:30 pm today, Hyundai's offer had been 87% subscribed, with significant interest from QIBs and employees. At 0.43x, participation of retail investors remained largely subdued. Notably, an IPO is considered cancelled and withdrawn, if it fails to meet the 90% subscription threshold.

Do large IPOs guarantee large returns? Data suggests that 18 of India's biggest 30 IPOs did not generate solid returns

Imagine a bustling jewellery market teeming with diamonds and gold. Amidst this glittering chaos, a small stall is trying to sell handcrafted gemstones. Even as newer and shinier outlets keep cropping up, all vying for attention, this gemstone store offers some of the oldest yet valuable jewels at a discount. Though they lack immediate sparkle, these rare gems reveal their value to the discerning buyer. This is how South Korea appears for many experts in global capital markets: a trove of undervalued gems, overshadowed by brighter, more aggressively marketed investment options. This undervaluation, known as the "<keyword id="24399183" type="General" weightage="20" keywordseo="korean-discount" source="keywords">Korean Discount</keyword>," reflects how South Korean companies are priced much lower than their global peers despite robust fundamentals — strong financial performance and consistent profitability. Contributing factors are many, ranging from opaque governance structures to geopolitical risks. But the fact stays, if you are a seasoned conglomerate listed in South Korea, you are likely undervalued. <keyword id="19906087" type="General" weightage="20" keywordseo="hyundai" source="keywords">Hyundai</keyword> Motor India Ltd. (HMIL), a subsidiary of the Korean giant Hyundai Motor Company (HMC), recently sought to escape this valuation trap by listing in India, a market where investor optimism commands premium pricing. But its valuation raised many eyebrows! Now that a month and a half has gone by since its listing, time is apt to examine if this gamble paid off. Will <keyword id="93460" type="General" weightage="100" keywordseo="hyundai-india" source="Orion">Hyundai India</keyword> justify its high valuation? Or does the listing highlight broader questions about the overheated valuation dynamics of Indian markets? A record-breaking <keyword id="19898327" type="General" weightage="20" keywordseo="ipo" source="keywords">IPO</keyword> but questions remain Hyundai Motor India’s mega Initial Public Offering (IPO), launched in October 2024, broke records by raising ₹27,870 crore, making it India’s largest-ever IPO. The offer was oversubscribed by 2.37 times, highlighting robust demand. But many investors remained sceptical: was this IPO an honest attempt to expand Hyundai’s footprint in India or was it trying to offer a way to cashout for existing investors and promoters? Or perhaps, is it an attempt by the Korean chaebol — a large family-owned business conglomerate — to break free from the aforementioned “Korean Discount”? When shares listed on October 22, these concerns seemingly weighed on the minds of most investors and the stock promptly dipped 5% below the issue price on the day. A tepid grey market performance had already foreshadowed this muted debut in the Indian markets. Now, after almost 35 trading sessions on Indian market, the stock remains almost exactly at price it listed on October 22 at Rs 1820—no gain, no loss. <h3>The gamble of hyper-valuation</h3>Much of this hesitation stemmed from Hyundai’s valuation. On listing, Hyundai was valued at $18 billion, positioning it as one of India’s most valuable automotive companies. However, such high valuations often temper investor enthusiasm, resulting in more cautious short-term outcomes. For most investors, the Price-to-Earnings (P/E) ratio is the most preferred parameter to gauge if a company is overvalued or undervalued. With a P/E ratio of 26.3, HMIL was priced significantly above the Indian automotive industry average of 24.4. Globally, automotive companies operate with much lower P/E ratios, reflecting mature market conditions and slower growth trajectories. HMIL’s South Korean parent Hyundai Motor Company (HMC) trades at a meagre 3.07, believe it or not! For Indian investors, the high premium hinted at overvaluation despite Hyundai’s strong domestic position. Such stark difference in valuation obviously sparked debates — is the Indian market assigning a premium to Hyundai Motor India’s growth potential, or is it simply reflecting the general exuberance around the prospects of the Indian economy? Another concern is the allocation of IPO proceeds. Hyundai’s IPO was structured as an offer for sale (OFS), meaning all funds raised would flow to the parent company rather than Hyundai India’s operations. Although Hyundai has committed to investing in R&amp;D for EVs and hybrids, critics argue that the lack of immediate reinvestment in India’s operations reflects a missed opportunity for domestic growth. Despite the early disappointment, Hyundai was confident that the valuation was fair. It did have some factors going for it, in addition to the fact that other auto giants like Mahindra &amp; Mahindra and <keyword id="19909974" type="General" weightage="20" keywordseo="maruti-suzuki" source="keywords">Maruti Suzuki</keyword> command even higher P/E ratios. And looking at the company fundamentals, it does seem like Hyundai is playing a long-term game. <h3>Hyundai in India: A proven track record</h3>Despite the initial stumble, Hyundai India’s long-term story is compelling. Since entering the Indian market in 1996, the automaker has sold over 8 million vehicles and firmly occupies the second spot in the domestic passenger vehicle market, trailing only Maruti Suzuki. Hyundai’s blockbuster SUV offerings, like the Creta and Venue, have been critical in building this dominance. Despite some challenge from Maruti Suzuki Brezza and Tata Punch, Creta has retained the tag of ‘most-selling SUV in India’ successfully so far this year. <div type="image" title="Hyundai" agency="Business Insider India" msid="116156234" hostid="261" caption="&amp;lt;p&amp;gt;Selling over 17,000 units per month on average this year, Creta has edged past major competitors to be the most-selling SUV in India in 2024. As Indian consumers preference continues to shift gradually towards premium products over budget segments, Hyundai stands to benefit (Wikimedia Commons / Canva)&amp;lt;/p&amp;gt;"></div> Selling over 17,000 units per month on average, Creta has edged past major competitors to be the most-selling SUV in India in 2024. As Indian consumers preference continues to shift gradually towards premium products over budget segments, Hyundai stands to benefit (Wikimedia Commons / Canva) Hyundai India’s market share of 14% in October 2024 underscores its clout. The company’s ability to tap into India’s premiumisation trend, where consumers increasingly prefer high-end vehicles, positions it well for growth. With plans to expand in electric vehicles (EVs) and hybrid technology, Hyundai is poised to capitalise on both domestic demand and export opportunities. The company’s ability to capitalize on its strong brand, extensive dealer network, and leadership in segments like SUVs and exports will determine its future performance. Hyundai’s strategic focus on expanding electric vehicle production also aligns with global trends towards sustainability, potentially positioning it as a leader in the segment. By listing in India, Hyundai aims not only to expand its operations but also to make India a global manufacturing and export hub for its products, especially SUVs and EVs. Therefore, despite early setbacks, Hyundai’s gamble seems to have paid off. The stock has rebounded, gaining 5% in the past month. More good news came in this week, as positive projections from Morgan Stanley and JPMorgan forecast an impressive 17-28% upside for the stock over the next year, reflecting growing investor optimism. <h3>A strategic pivot from the Korean Discount?</h3>The Korean Discount has long plagued South Korea’s chaebols, including Hyundai. Experts attribute this to several factors: <ul> <li>Chaebol Governance: South Korea’s conglomerates, known as chaebols, are often criticised for opaque governance structures and excessive family control.</li> <li>Geopolitical Risks: Tensions with North Korea contribute to investor caution, adding a layer of perceived risk.</li> <li>Limited Domestic Liquidity: South Korea’s relatively small investor base can constrain market activity and valuation potential.</li> </ul> By listing in India, Hyundai sought to unlock better valuations for its subsidiary, leveraging the optimism of Indian markets. India’s stock market has a trailing P/E ratio of 24.4, far above South Korea’s Kospi average of 16-17. The Indian market’s appetite for high-growth stories provides a fertile ground for companies like Hyundai to escape the valuation constraints of their home market. A successful IPO could encourage other such conglomerates to follow suit, setting a precedent. While Hyundai India has a robust track record, its future success hinges on navigating key challenges: <ul> <li>Supply Chain Vulnerabilities: Hyundai relies heavily on its Chennai plant, making it vulnerable to disruptions.</li> <li>Intensifying Competition: Domestic rivals like <keyword id="19906967" type="General" weightage="20" keywordseo="tata-motors" source="keywords">Tata Motors</keyword> and MG Motors are making aggressive inroads into the EV market.</li> <li>Policy Risks: The automotive sector’s reliance on government incentives for EVs and hybrids adds a layer of unpredictability.</li> </ul> High valuations come with risks. Hyundai will need to prove that it can sustain its growth trajectory in India, fend off competition from established players like Maruti Suzuki and Tata Motors, and navigate challenges such as supply chain disruptions and regulatory hurdles. If Hyundai successfully capitalises on its strong brand and market leadership, it could not only redefine its value but also serve as a case study for other Korean companies seeking better recognition and valuations in global markets. <h3>Is Hyundai saga a reflection of overheated Indian markets?</h3>The bigger question here is, does Hyundai’s IPO highlights a broader narrative about Indian markets’ premium valuations? With a trailing P/E ratio of 24.4, Nifty 50 index is among the highest in emerging markets. India’s stock markets consistently command a premium due to robust retail participation, strong economic growth prospects, and a burgeoning middle class. While this premium reflects optimism about India’s long-term growth story, it also signals potential risks of overvaluation, particularly in sectors like technology, automotive, and consumer goods. With a record ₹94,017 crore outflow by Foreign Portfolio Investors (FPIs) in October 2024, concerns about overheated valuations are mounting. Sustaining such unprecedented valuations required companies to consistently perform above global averages, and retaining robust earnings growth quarter after quarter remains a challenge in today’s uncertain world. For Hyundai, the high valuation is both an opportunity and a risk. While it underscores investor confidence, it narrows the margin of safety, making the stock vulnerable to corrections during economic downturns. Take for example, the high-profile IPO of Life Insurance Corporation of India (LIC) that raised over ₹21,000 crore. Its listing was met with disappointment as the stock began trading at a 9% discount to its issue price, and subsequent performance has remained subdued. LIC’s post-IPO journey also highlights how inflated valuations can lead to long-term underperformance, as the stock gave only 12% return over the past 30 months when even the Nifty 50 index went up by over 44%. This happens when when the company's growth narrative fails to align with its pricing. Despite being a household name with a dominant market share, LIC's stock has struggled to meet expectations, partly due to concerns about its operating efficiency and the limited use of IPO proceeds for growth initiatives. Make no mistake, Hyundai Motor India’s IPO is a landmark event! It showcases the potential for Korean companies to leverage emerging markets like India for better valuations. It also shows that strong fundamentals can help justify a company such premium valuations even amidst bearish economic prospects. However, it also serves as a cautionary tale about the risks of overvaluation. For Hyundai, the next steps involve proving its long-term growth story, navigating competitive challenges, and maintaining investor confidence. For Indian markets, Hyundai’s IPO underscores the need to balance optimism with realistic expectations as they continue to evolve as global investment hotspots. To sustain the country’s economic narrative as a land of unmatched opportunities, corporate India must work on improving long-term fundamentals and mitigating long-term risks. As global investors watch closely, Hyundai India’s success or failure could shape how international companies view India as a listing destination in the years to come.

Tackling the 'Korean Discount': A deep dive into curious case of Hyundai Motor India's market listing

<ul><li>US stocks were mostly lower on Friday, with the S&amp;P 500 declining for the 6th day in a row.</li><li>The decline was led by mega-cap tech stocks, with Nvidia plunging as much as 10%.</li><li>A sharp 23% crash in Super Micro Computer accelerated the decline in tech stocks.</li></ul>US stocks were mostly lower on Friday, with the S&amp;P 500 falling for the sixth day in a row and experiencing its worst week of performance so far in 2024.Stocks wavered early Friday as investors assessed Israel's missile strike against Iran, which was largely seen as symbolic and a potential off-ramp from further conflict.But the losses in the stock market accelerated after Super Micro Computer announced earnings without preannouncing results, as some on Wall Street seemed to have expected.Shares of <a href="https://markets.businessinsider.com/news/stocks/super-micro-computer-smci-stock-crash-drags-ai-darling-nvidia-earnings-2024-4">Super Micro Computer crashed 23%, and dragged down AI darling Nvidia by as much as 10%.</a> The Nvidia decline wiped out $183 billion in market valuation. Nvidia supplies its AI chips to Super Micro Computer and counts it as one of its larger customers. Other tech stocks moving lower Meta Platforms, Amazon, and <a href="https://markets.businessinsider.com/news/stocks/netflix-stock-price-q1-earnings-wall-street-reaction-subscriber-growth-2024-4"> Netflix, which fell 9% in Friday trades.</a> The company smashed earnings expectations but announced that beginning in 2025 it would stop reporting net subscriber growth.So far, of the 13% of S&amp;P 500 companies that have reported earnings results, 77% of them have beat profit estimates by a median of 7%, while 55% beat revenue estimates by a median of 3%, according to data from Fundstrat.Here's where US indexes stood at the 4:00 p.m. closing bell on Friday: <ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 4,967.23, down 0.88% </li><li><a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 37,986.40, up 0.56% (+211.02 points)</li><li><a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq Composite</a>: 15,282.01, down 2.05% </li></ul>Here's what else is going on today: <ul><li><a href="https://markets.businessinsider.com/news/stocks/ibotta-stock-price-ipo-mint-hundreds-millionaires-denver-colorado-ceo-2024-4">Thursday's IPO of digital marketer Ibotta has minted more than 150 fresh millionaires,</a> according to CEO Bryan Leach.</li><li><a href="https://www.businessinsider.com/mark-zuckerberg-elon-musk-net-worth-comparison-3rd-richest-person-2024-4">Mark Zuckerberg has overtaken Elon Musk as the third richest person in the world,</a> as Meta Platform stock surges and Tesla stock plummets.</li><li><a href="https://www.businessinsider.com/tesla-recalls-cybertrucks-accelerator-fault-pad-pedal-electric-vehicle-truck-2024-4">Tesla's stock slide continued on Friday after the NHTSA announced a recall of 4,000 Cybertrucks.</a></li><li><a href="https://www.businessinsider.com/taylor-swift-economic-impact-wall-street-earnings-calls-new-album-2024-4">Taylor Swift's name keeps popping up in earnings calls on Wall Street.</a> These are five companies that have name-dropped Swift recently. </li><li><a href="https://markets.businessinsider.com/news/stocks/trump-media-stock-crash-djt-ken-griffin-citadel-short-sellers-2024-4">Billionaire investor Ken Griffin's Citadel Securities called Trump Media CEO Devin Nunes a "proverbial loser"</a> in response to a letter about short-selling. </li><li><a href="https://markets.businessinsider.com/news/currencies/bitcoin-halving-price-prediction-miners-crypto-jpmorgan-btc-2024-4">JPMorgan said the upcoming halving in bitcoin could lead to a price decline,</a> rather than a surge that so many expect.</li></ul>In commodities, bonds, and crypto: <ul><li><a href="https://markets.businessinsider.com/commodities/oil-price">West Texas Intermediate</a> crude oil edged higher by 0.09% to $82.17 a barrel. <a href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, rose by 0.16% to $87.25 a barrel. </li><li><a href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> climbed by 0.21% to $2,403.00 per ounce. </li><li>The 10-year Treasury yield was unchanged at 4.62%. </li><li><a href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> edged higher by 1.21% to $64,280. </li></ul>

Stock market today: S&P 500 falls for 6th day in a row amid weakness in mega-cap tech

<ul><li>There's a 90% chance TikTok will be banned in the US after CEO Shou Chew gave evasive testimony to Congress, according to Wedbush.</li><li>Wedbush said TikTok will have to go through with an IPO or sell itself to a mega-cap tech company to avoid a ban.</li><li>"A matter of when, not if TikTok gets banned in US," Wedbush analyst Dan Ives said.</li></ul>The chances of TikTok getting banned in the US have soared to 90% after CEO Shou Zi Chew <a href="https://markets.businessinsider.com/news/stocks/snapchat-meta-stock-price-tiktok-ceo-disaster-testimony-congress-2023-3?_gl=1*1cdqhcb*_ga*MTkxNzQzNjc2Mi4xNjYxNDU2MDU1*_ga_E21CV80ZCZ*MTY3OTkyMDc0OS44OTUuMS4xNjc5OTIyNTU3LjYwLjAuMA..">gave evasive testimony to Congress last week,</a> according to Wedbush analyst Dan Ives.Ives said in a note on Monday it's "a matter of when, not if TikTok gets banned in the US."Such a ban would be unprecedented, but it highlights growing concerns that TikTok parent company ByteDance is beholden to the Chinese government and could ultimately enable some form of spying on <a href="https://www.businessinsider.com/tiktok-150-million-us-users-facebook-meta-ban-biden-china-2023-3">TikTok's user base of more than 150 million Americans.</a>"The bi-partisan legislation going through the Beltway now lays the path for a ban and the final straw that will ultimately break the camel's back for TikTok is the CFIUS ruling around the corner with a formal Biden White House statement around a likely TikTok ban the likely next step," Ives explained, referring to the Committee on Foreign Investment in the US.For its part, TikTok has floated "Project Texas," which is a $1.5 billion plan that would <a href="https://www.businessinsider.com/a-ban-on-tiktok-could-be-bad-news-for-oracle-2022-12">move all of TikTok's data to US-based servers operated by Oracle.</a>But any US ban on TikTok wouldn't mean its base of obsessive users immediately lose access to the platform, according to Wedbush.Instead, the ban could mean that TikTok will be granted a three- to six-month window to either go public via an IPO, or sell itself to an American company."While the price tag will be eye-popping, TikTok's strategic value and consumer platform will have a number of financial and tech strategic players interested once a sale becomes the formal path," Ives said.Potential buyers of the popular social media platform include a potential consortium of private equity players, as well as mega-cap tech giants including <a href="https://markets.businessinsider.com/stocks/msft-stock">Microsoft</a>, <a href="https://markets.businessinsider.com/stocks/aapl-stock">Apple</a>, <a href="https://markets.businessinsider.com/stocks/orcl-stock">Oracle</a>, and/or joint bids from a handful of tech companies depending on the structure and price tag of the deal."An IPO and potential spin-off are also potential outcomes although the much discussed algorithm remains a major X variable as detaching the algorithm from ByteDance would be a very complex process with much scrutiny from US regulators," Ives said, adding that a wall of legal challenges from ByteDance could delay any progress towards a potential sale.The potential ban on TikTok would likely be a boon to the social media companies that have seen ad dollars diverted away from them and towards TikTok, including <a href="https://markets.businessinsider.com/stocks/meta-stock">Facebook</a>, <a href="https://markets.businessinsider.com/stocks/snap-stock">Snapchat</a>, and <a href="https://markets.businessinsider.com/stocks/googl-stock">Google's</a> YouTube."For Meta and Zuckerberg as well as Snapchat and Google, watching the TikTok hearing was like eating popcorn watching a good movie as the social media disruption from TikTok will clearly benefit Meta and Snapchat front and center in the eyes of the Street," Ives said.

There's a 90% chance TikTok will be banned in the US unless it goes through with an IPO or gets bought out by mega-cap tech, Wedbush says

Here are the mega IPOs so far in 2019

<div class="KonaFilter image-container display-table"><div><div class="image on-image">iStock; Peabody/YouTube; Samantha Lee/Business Insider</div></div></div><ul><li>Initial public offerings have rebounded in early 2019 after a slow end to last year.</li><li><a href="https://markets.businessinsider.com/stocks/levi-stock">Levi Strauss</a>, <a href="https://markets.businessinsider.com/stocks/lyft-stock">Lyft</a>, and <a href="https://markets.businessinsider.com/news/stocks/tradeweb-initial-public-offering-2019-2019-4-1028086216">Tradeweb</a> have already gone public while Uber and Pinterest are exploring IPOs.</li><li>Trading among the companies was mixed with Levi and Tradeweb up sharply with Lyft struggling to rise above IPO price.</li></ul>Tradeweb last week was the third mega initial public offering in the US this year, raising nearly $1.1 billion. Of the three, Tradeweb and Lyft each raised more than $1 billion through the sale of stock while Levi raised over $600 million.This year looks to be a <a href="https://www.businessinsider.com/tech-startups-going-public-2019-rumored-ipos-2019-2?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">banner one for the listing of so-called unicorns,</a> or private tech companies with valuations over $1 billion. Pinterest began its IPO road show on Monday with a planned valuation of up to $11.3 billion -notably <a href="https://www.businessinsider.my/initial-public-offering-pinterest-prices-ipo-below-valuation-2019-4/">below the last private valuation ($12.3 billion) of the company</a>. This could be due to wariness of "unicorn" valuations following the c<a href="https://markets.businessinsider.com/news/stocks/lyft-stock-price-volatile-in-first-few-trading-sessions-2019-4-1028079472">hoppy trading of Lyft</a>, which is currently below its IPO price.In what is expected to be the largest IPO of 2019, Uber is expected to hit the public markets later this month with a <a href="https://www.businessinsider.com/exclusive-uber-plans-to-kick-off-ipo-in-april-sources-2019-3">valuation of over $100 billion</a>.Check out the details of three big US IPOs this year:

The mega IPO of Life Insurance Corporation of India (<keyword id="6367143" type="General" weightage="20" keywordseo="lic" source="Orion">LIC</keyword>) will be out by the end of the current fiscal, a senior Central government official said on Monday. According to Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), the IPO plan is on course. "Some media speculation doubting the feasibility of <keyword id="7922409" type="General" weightage="20" keywordseo="lic-ipo" source="Orion">LIC IPO</keyword> this fiscal year is not correct. It is reiterated that plan is on course for the IPO in the last quarter of this fiscal," the Secretary tweeted. The IPO is expected to become the biggest one in India and it may fetch the government around Rs 1 lakh crore. Post the Union Budget FY22, the government has taken several legislative and executive steps to pave way for the mega IPO. The LIC, a statutory Corporation constituted under the LIC Act 1956, is a leading life insurer of India wholly owned by the government. It has three branches outside India - in the UK, Fiji and Mauritius, a wholly-owned subsidiary in Singapore and Joint Ventures in Bahrain, Kenya, Sri Lanka, Nepal, Saudi Arabia, and Bangladesh. Its subsidiaries in India include LIC Pension Fund Ltd, and LIC Cards Services Ltd. Its associates include the IDBI Bank Ltd, the LIC Mutual Fund and the LIC Housing Finance Ltd. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/these-9-stocks-are-down-as-much-as-15-since-being-the-top-diwali-picks-6-weeks-ago/articleshow/88387967.cms">From ICICI Bank to INOX, these 9 stocks are down as much as 15% since being the top Diwali picks 6 weeks ago</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/how-do-rising-covid-19-cases-lead-to-a-fall-in-markets/articleshow/88385905.cms">Why is the stock market falling so sharply today?</a>

You Searched For "mega IPO" and got 7 results

Do large IPOs guarantee large returns? Data suggests that 18 of India's biggest 30 IPOs did not generate solid returns

Ira Alok Puranik

Tackling the 'Korean Discount': A deep dive into curious case of Hyundai Motor India's market listing

Deekshith Pinto

Stock market today: S&P 500 falls for 6th day in a row amid weakness in mega-cap tech

Matthew Fox

There's a 90% chance TikTok will be banned in the US unless it goes through with an IPO or gets bought out by mega-cap tech, Wedbush says

Matthew Fox

Here are the mega IPOs so far in 2019

Here are the mega IPOs so far in 2019

Arjun Reddy

LIC IPO to be launched between Jan-Mar 2022

IANS

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