Shares of the National Stock Exchange of India (NSEI) rose as high as 5% in their trading debut on Thursday following a $2.3 billion initial public offering, marking the country's second-largest IPO. The stock was listed on the BSE at 1,800 Indian Rupees, equivalent to $18.77, representing a premium to its IPO price. The performance of NSEI compares to a mixed track record for India's largest IPOs over the past several years.
The article reviews the performance of major Indian companies that have listed on the NSE with market capitalizations exceeding $1 billion. Hyundai Motor India shares dropped more than 7% in their debut in 2024 following the largest-ever IPO in India, which drew a muted response from investors. The sentiment was weighed down by concerns over an industry slowdown and high valuation.
Its South Korean parent raised $2.91 billion by selling a 17.5% stake as part of a pure offer-for-sale transaction. At the last close, Hyundai India has gained approximately 7% on its IPO price. Life Insurance Corporation of India, the country's largest insurance company, fell nearly 8% on its debut in 2022 despite strong demand for what was then India's largest IPO.
The government raised approximately 205 billion rupees by selling a 3.5 percent stake in the state-owned insurer, well below its original target of up to $12 billion. LIC traded at 407.5 rupees, adjusted following a 1:1 bonus issued in May. Paytm, a digital payments company, suffered one of the worst large-cap debuts on India's stock market in 2021.
Its $2.5 billion IPO saw its share price plummet by more than 27%. Concerns over high valuations intensified, particularly among technology companies posting losses. Paytm has declined 17.5% in value since its launch.
Tata Capital's debut in October 2025 saw a modest gain of 1.4%, attributed to a crowded issuance schedule and limited valuation discount compared to listed peers. The offering occurred alongside an LG Electronics India IPO of $1.75 billion, which attracted bids worth nearly $50 billion. Since its listing, Tata Capital has risen 7.4%.
Coal India, the world's largest coal mining company, surged by 40% on its listing day in November 2010 as investors sought exposure to India's energy demand growth. The government IPO set the stage for public listings of other state-owned enterprises. Coal India's market debut has achieved a gain of 73.3% from its listing price.
Source: Reuters
Source: energynews.oedigital.com