Biggest IPOs in India
India’s stock market has witnessed several historic Initial Public Offerings (IPOs) that have not only raised massive capital but also made headlines for their scale, valuation, and investor interest. From tech giants to insurance behemoths, the Biggest IPOs in India reflect the country’s growing economic ambition and the maturity of its capital markets.
In this article, we explore the top IPOs in India by issue size, key facts, and how they performed post-listing.
What is an IPO?
An Initial Public Offering (IPO) is when a private company offers its shares to the public for the first time to raise capital. Companies launch IPOs to fund growth, repay debt, or meet regulatory requirements. Investors get the opportunity to own a piece of the company and potentially benefit from its growth.
| IPO Name | IPO Size | IPO Year |
|---|---|---|
| Hyundai Motor India | ₹27,870 crores | 2024 |
| LIC IPO | ₹21,008 crores | 2022 |
| PayTM | ₹18,300 crores | 2021 |
| Vodafone Idea FPO | ₹18,000 crores | 2024 |
| Coal India | ₹15,199 crores | 2010 |
| Reliance Power | ₹11,563 crores | 2008 |
| Swiggy IPO | ₹11,327 crores | 2024 |
| General Insurance Corporation | ₹11,175 crores | 2017 |
| SBI Card | ₹10,355 crores | 2020 |
| NTPC Green Energy | ₹10,000 crores | 2024 |
| The New India Assurance | ₹9,600 crores | 2017 |
| Zomato | ₹9,375 crores | 2021 |
| DLF | ₹9,187 crores | 2007 |
| HDFC Standard Life Insurance | ₹8,695 crores | 2017 |
| Cairn India | ₹8,616 crores | 2006 |
| Star Health and Allied Insurance | ₹7,249 crores | 2021 |
| Bajaj Housing Finance | ₹6,560 crores | 2024 |
| Gland Pharma | ₹6,480 crores | 2020 |
| Ola Electric | ₹6,145 crores | 2024 |
| ICICI Pru. Life | ₹6,057 crores | 2016 |
| NHPC | ₹6,039 crores | 2009 |
| Policybazaar | ₹6,017 crores | 2017 |
| IRB InvIT Fund IPO | ₹5,921 crores | 2017 |
| ICICI Lombard General Insurance | ₹5,700 crores | 2017 |
| PB Fintech | ₹5,625 crores | 2021 |
| Sona BLW Precision | ₹5,550 crores | 2020 |
| Afcons Infrastructure | ₹5,430 crores | 2024 |
| Nykaa | ₹5,352 crores | 2020 |
| Delhivery | ₹5,235 crores | 2023 |
| Nuvoco Vistas | ₹5,000 crores | 2020 |
| Embassy Office Parks REIT | ₹4,750 crores | 2020 |
| IRFC | ₹4,633 crores | 2021 |
| Bandhan Bank | ₹4,473 crores | 2018 |
| Mankind Pharma | ₹4,326 crores | 2023 |
| Ruchi Soya FPO | ₹4,300 crores | 2022 |
| Bharti Hexacom | ₹4,275 crores | 2024 |
| Brainbees Solutions | ₹4,193 crores | 2024 |
| Hindustan Aeronautics | ₹4,144 crores | 2018 |
| ICICI Securities | ₹4,017 crores | 2018 |
Hyundai Motor India – India’s Biggest IPO Ever
The Hyundai Motor India IPO in May 2024 is by far the largest public offering in Indian history, raising over ₹27,870 crore. Hyundai Motor India’s public issue attracted massive retail and institutional participation, despite volatile market conditions.
What Makes an IPO “Big”?
An IPO is considered big not just by size but also by:
Market capitalization at listing
Investor demand (oversubscription)
Post-listing performance
Sectoral impact and innovation (e.g., tech IPOs like Zomato, Paytm)