# Biggest IPOs in India: Jio vs Hyundai, NSE, LIC, Paytm > India's 10 biggest IPOs by issue size, from Jio Platforms (INR 30,213 cr, 2026) to Hyundai, NSE, LIC, Paytm and Coal India, with valuation and listing-day results. - **Published**: 2026-10-21 - **Modified**: 2026-10-21 - **Category**: ipo - **URL**: https://www.tldr.money/articles/ipo/biggest-ipos-in-india --- This page ranks the **biggest IPOs in India** by issue size and shows how each fared on listing day. It is part of our [IPO guides](/ipo); for the issue at the top of the list, start with the [Jio IPO DRHP and RHP breakdown](/articles/ipo/jio-ipo). **Last updated: 21 October 2026, IST.** Jio Platforms' listing-day figures will be added on 28 October 2026, its indicative listing date. > **Educational content, not investment advice.** tldr.money is not a SEBI-registered investment adviser or research analyst, and nothing here is a recommendation to apply for, buy, sell or hold any security. Past listing performance does not predict future results. IPO investments can lose money, including on listing day.
India's biggest IPOs by issue size (INR crore): Jio Platforms 30,213 (2026); Hyundai Motor India 27,870 (2024); NSE 22,569 (2026); LIC 21,000 (2022); Paytm 18,300 (2021); Tata Capital 15,512 (2025); Coal India 15,200 (2010); HDB Financial Services 12,500 (2025); LG Electronics India 11,607 (2025); Reliance Power 11,563 (2008).
## India's 10 biggest IPOs | # | Company | Year | Issue size | Type | Issue price | Listing-day close vs issue price | |---|---|---|---|---|---|---| | 1 | Jio Platforms | 2026 | INR 30,213 cr | Fresh issue | INR 1,065-1,119 (band) | **To be updated on 28 Oct 2026** | | 2 | Hyundai Motor India | 2024 | INR 27,870 cr | Offer for sale | INR 1,960 | about −7% | | 3 | National Stock Exchange (NSE) | 2026 | INR 22,569 cr | Offer for sale | INR 1,785 | +1.85% (INR 1,818) | | 4 | Life Insurance Corporation (LIC) | 2022 | INR 21,000 cr | Offer for sale | INR 949 | −7.75% (INR 875.45 on BSE) | | 5 | One97 Communications (Paytm) | 2021 | INR 18,300 cr | Fresh + OFS | INR 2,150 | −27.25% (INR 1,564) | | 6 | Tata Capital | 2025 | INR 15,512 cr | Fresh + OFS | INR 326 | about +1.4% (INR 330.50 on NSE) | | 7 | Coal India | 2010 | INR 15,200 cr | Offer for sale | INR 245 | about +40% (INR 342) | | 8 | HDB Financial Services | 2025 | INR 12,500 cr | Fresh + OFS | INR 740 | about +13.6% (INR 840.95 on NSE) | | 9 | LG Electronics India | 2025 | INR 11,607 cr | Offer for sale | INR 1,140 | about +48.2% (INR 1,689.90 on NSE) | | 10 | Reliance Power | 2008 | INR 11,563 cr | Fresh issue | INR 450 | −17.22% (INR 372) | Issue sizes and types: The Hindu BusinessLine / PTI, 16 October 2026. Listing-day closes: see the sources for each row below. Percentages marked "about" are our calculation from the reported close; the others are as reported. Issue sizes are not adjusted for inflation, and some outlets quote slightly different final amounts (for example INR 21,008 crore for LIC, INR 22,562 crore for NSE or INR 11,700 crore for Reliance Power). LIC's issue price was INR 949, with discounts for retail investors and policyholders. ## Valuation at listing Comparing valuations across 16 years is rough, and outlets report them on different bases. These are the figures we could source, with the basis stated: | Company | Valuation | Basis | Source | |---|---|---|---| | Jio Platforms | INR 10,30,490.55 crore | Post-issue market cap at the INR 1,119 cap | Price band advertisement, 14 Oct 2026 | | NSE | INR 4.42 lakh crore | At the INR 1,785 issue price | Times of India, 24 Sep 2026 | | LIC | INR 5.53 lakh crore | Market cap at the day-1 close (BSE) | Business Today, 17 May 2022 | | Hyundai Motor India | INR 1.59 lakh crore | At the issue price | Fortune India, 22 Oct 2024 | | LG Electronics India | INR 1.14 lakh crore | Market cap at the day-1 close | The Week (PTI), 14 Oct 2025 | | Tata Capital | $15.78 billion | At the debut | Reuters, 13 Oct 2025 | | HDB Financial Services | over $8 billion | Market cap at the day-1 close | The Hindu BusinessLine, 2 Jul 2025 | | Paytm, Coal India, Reliance Power | Not sourced | -- | -- | At about INR 10.3 lakh crore, Jio is valued at more than twice NSE and almost twice LIC at their listings, and its issue is a small slice of the company: the 27 crore new shares are about 2.93% of the post-issue total (our calculation from the RHP). ## What history says about big IPOs - **Size doesn't decide the debut.** Four of the nine before Jio closed day 1 below their issue price; five closed above it. - **The two worst debuts were Paytm and Reliance Power.** Paytm (2021) closed day 1 down 27.25% and Reliance Power (2008) down 17.22%. - **Recent mega-IPOs have done better on day 1.** HDB Financial, LG Electronics India, Tata Capital and NSE all closed their first day above the issue price. - **Day 1 is not the whole story.** Long-term returns depend on earnings and the price paid, not the opening pop. ## How Jio compares going in - **A big anchor book:** INR 8,109.85 crore from 212 anchors on 19 October 2026. See [anchor investors](/articles/ipo/jio-ipo-anchor-investors). - **A fresh issue, not an OFS:** unlike Hyundai, NSE, LIC, Coal India and LG, all the money goes to the company, mainly to repay debt. - **Early demand:** 1.18 times subscribed by 10:57 IST on day 1, according to NSE. Track it on our [subscription status](/articles/ipo/jio-ipo-subscription-status) page. - **Listing:** on or about 28 October 2026. We will add the listing price and day-1 close to the table above. For views on the price, see [what brokerages say](/articles/ipo/jio-ipo-review), and for the downside, the [risk factors](/articles/ipo/jio-ipo-risk-factors). ## Related guides - [Jio IPO: DRHP and RHP breakdown](/articles/ipo/jio-ipo) - [How IPOs work in India](/articles/ipo/how-ipos-work-india) - [Jio IPO review: brokerage views](/articles/ipo/jio-ipo-review) - [Jio IPO dates and timeline](/articles/ipo/jio-ipo-dates-allotment-status) - [Tax on IPO listing gains](/articles/ipo/ipo-listing-gains-tax) ## Sources Accessed 21 October 2026. - [Jio Platforms price band advertisement, 14 October 2026 (hosted by lead manager JM Financial)](https://www.jmfl.com/Common/getFile/6109) (Jio issue size and market cap) - [The Hindu BusinessLine (PTI), Jio Platforms to Reliance Power: India's 10 biggest IPOs ranked, 16 October 2026](https://www.thehindubusinessline.com/markets/jio-platforms-to-reliance-power-indias-10-biggest-ipos-ranked/article71587360.ece) (issue sizes, years, issue types) - [Times of India, NSE IPO: stock lists at INR 1,800 versus issue price of INR 1,785, 24 September 2026](https://timesofindia.indiatimes.com/business/india-business/nse-ipo-listing-date-live-stock-price-debut-on-bse-gmp-national-stock-exchange-of-india-news/articleshow/134440416.cms) - [Reuters, Hyundai Motor India drops 7% on debut after country's biggest IPO, 22 October 2024](https://www.reuters.com/business/autos-transportation/hyundai-indias-shares-fall-13-debut-trade-after-record-33-bln-ipo-2024-10-22/) - [Fortune India, From Hyundai to LIC to Paytm: all big IPOs failed on market debut, 22 October 2024](https://www.fortuneindia.com/investing/from-hyundai-to-lic-to-paytm-all-big-ipos-failed-on-market-debut-heres-why/118873) (Hyundai valuation; LIC and Paytm day-1 losses; Coal India day-1 gain) - [The Hindu, LIC sees lacklustre debut in stock market; lists at over 8% discount, 17 May 2022](https://www.thehindu.com/business/markets/lic-opens-at-862-discount-at-86720-per-share-on-bse/article65421816.ece) - [Business Today, LIC stock closes 8% lower to IPO price on market debut, 17 May 2022](https://www.businesstoday.in/markets/company-stock/story/lic-stock-closes-8-percent-lower-to-ipo-price-on-market-debut-333927-2022-05-17) - [The Hindu BusinessLine, Tata Capital ends 1.6% higher at INR 330.50 on Day 1 of listing, 13 October 2025](https://www.thehindubusinessline.com/markets/tata-capital-ends-16-higher-at-33050-on-day-1-of-listing/article70158789.ece) - [Reuters, India's Tata Capital makes subdued debut, valuing non-bank lender at $15.78 bln, 13 October 2025](https://www.reuters.com/world/india/tata-capital-lists-12-premium-issue-price-lacklustre-debut-indias-largest-ipo-2025-10-13/) - [The Hindu BusinessLine, HDB Financial Services debuts with 13% premium, 2 July 2025](https://www.thehindubusinessline.com/markets/hdb-financial-services-debuts-with-13-premium-as-indias-mega-ipo-track-record-shows-mixed-results/article69762906.ece) - [The Hindu BusinessLine, LG Electronics IPO listing: stock ends 48% above offer price of INR 1,140, 14 October 2025](https://www.thehindubusinessline.com/markets/stock-markets/lg-electronics-ipo-listing-lg-electronics-share-price-live-updates/article70158040.ece) - [The Week (PTI), LG Electronics India shares jump over 48 pc, co commands mcap of INR 1.14 lakh cr, 14 October 2025](https://www.theweek.in/wire-updates/business/2025/10/14/dcm134-biz-stocks-2nd-ld-lg-electronics.html) - [Upstox News, These 6 IPOs raised over INR 10,000 crore each; how they performed on listing day, updated 16 February 2026](https://upstox.com/news/market-news/ipo/six-largest-ip-os-of-india-these-ip-os-raised-fund-over-10-000-crore-each-here-s-how-they-performed-on-the-listing-day/article-120111/) (secondary: its table credits Chittorgarh.com, an aggregator; used for Paytm, Coal India and Reliance Power closing prices) --- - [More ipo articles](https://www.tldr.money/articles/category/ipo) - [All articles](https://www.tldr.money/articles)