In the wake of Jio's listing, what are India's biggest share offerings?

Jio is now valued at about $131.52 billion, overtaking Bharti Airtel and HDFC Bank. Here are the five largest Indian IPOs before Jio: The National Stock Exchange became one of the world's 10 most valuable publicly traded bourses last month, with a market capitalisation of about $48 billion, after a $2.3 billion market debut. The stock listed at ₹1,800 on the BSE on September 24, up 0.84% from its issue price of ₹1,785.

Hyundai, the world's third-largest automaker and India's fourth-biggest passenger vehicle maker, raised ₹27,870 crore ($2.93 billion) in October 2024 ‌in what is currently India's second-biggest IPO, after Jio. The manufacturer's South Korean parent sold a 17.5% stake in a pure offer for sale, where existing shareholders sell shares and no new capital is raised. The government pocketed roughly ₹20,500 crore  ($2.16 billion) from selling a 3.5% stake in India's largest insurer and biggest domestic financial investor, a far cry from its initial target of up to $12 billion.

The shares slid nearly ​8% on their debut. Paytm, an Indian fintech firm, raised ₹18,300 crore ($1.92 billion) in November 2021 in ‌a mix of a fresh share issuance and an offer for sale. Ant Group reduced its stake to 23% from 28% and SoftBank's Vision Fund pared its ​holding to ‌16%. Paytm lost more than 27% on its debut, the biggest listing-day drop in Indian IPO history ‌at the time. The Tata Group's financial services arm raised ₹15,500 crore ($1.63 billion) in October 2025, with Tata Sons and IFC among those selling in the offer-for-sale ‌component ​alongside a fresh ​issue.

The IPO was the largest ever by a non-banking financial company in India. The shares listed at a slight premium of 1.23%. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.) Don't miss the most important news and views of the day. Get them on our Telegram channel First Published: Oct 28 2026 | 11:49 AM IST