The IPO market in India is witnessing an extraordinary year in 2024. With stock markets booming, several companies, both small and large, are turning to Initial Public Offerings (IPOs) to raise funds. In fact, 13 companies recently filed for IPO approval with SEBI in a single day, seeking to raise a collective total of around Rs 8,000 crore. So far in 2024, 62 companies have launched IPOs, raising a combined Rs 64,000 crore. This figure already surpasses the Rs 49,436 crore raised in 2023 by 57 companies, and it’s set to grow further.
But the excitement doesn’t stop here—three massive IPOs are on the horizon, including Hyundai Motor India, Swiggy, and NTPC Green Energy. These IPOs could rewrite the record books, especially Hyundai Motor India’s upcoming IPO, which is rumored to be the largest in India’s history. Before we dive into the future, let’s look at the five biggest IPOs that have already made history in India.
The 5 Biggest IPOs in Indian History
1. LIC – Rs 21,000 Crore (2022)
The biggest IPO to date in India came from the government-owned Life Insurance Corporation (LIC) in 2022. LIC raised a staggering Rs 21,000 crore through its IPO, making it the largest public offering in the history of Indian markets. Despite initial skepticism and challenges, LIC’s IPO still holds the top spot.
2. Paytm – Rs 18,300 Crore (2021)
Paytm, the fintech giant, made headlines in 2021 when it launched its IPO, raising Rs 18,300 crore. The company, however, faced many challenges post-IPO, with its share prices dropping and questions surrounding its business model. Still, its IPO remains the second-largest in India’s history.
3. Coal India – Rs 15,200 Crore (2010)
Coal India, a government-owned coal mining company, launched its IPO in 2010 and raised Rs 15,200 crore. The IPO was hugely successful and marked a turning point for government disinvestments in India.
4. Reliance Power – Rs 11,700 Crore (2008)
Anil Ambani’s Reliance Power raised Rs 11,700 crore through its IPO in 2008. Despite the high expectations, the company’s performance has since been rocky, but its IPO remains one of the biggest in the country’s history.
5. General Insurance Corporation (GIC) – Rs 11,256.83 Crore (2017)
In 2017, GIC, a government insurance company, launched its IPO, raising Rs 11,256.83 crore. While not as headline-grabbing as some other IPOs, it still ranks among the largest in Indian history.
A New IPO That Could Top the Charts
While these five IPOs have made history, there’s a new contender that could shake up the rankings. Hyundai Motor India, the Indian subsidiary of South Korea’s Hyundai Motor Company, is expected to launch an IPO that could be worth Rs 25,000 crore. If the predictions hold, this would surpass LIC’s IPO and become the largest in India’s history.
Reports suggest that the Hyundai Motor India IPO could hit the market soon, and if the company manages to raise Rs 25,000 crore, it will claim the top spot. This upcoming IPO is being closely watched by market analysts and investors alike, as it has the potential to reshape India’s IPO landscape.
With the stock market thriving and several high-profile IPOs lined up, 2024 is shaping up to be a monumental year for IPOs in India.
