The 12,500-crore IPO of HDB Financial Services has delivered the biggest returns among all public issues worth over Rs 10,000 crore, which were launched in India since the outbreak of COVID-19 pandemic in 2020.
HDB Financial Services shares made a decent market debut on July 2, listing with a premium of nearly 13 percent over its IPO price at Rs 835 apiece. The public issue had seen strong investor interest, being subscribed 16.69 times its offer size within its three days of bidding between June 25 and June 27.
Investors could bid for a minimum of 20 shares, requiring an investment of Rs 14,800 at the upper price band of Rs 740 apiece, and in multiples thereafter. After the successful market debut, one lot of 20 shares would be worth Rs 16,700. This means that investors made a profit of Rs 1,900 per lot.
While HDB Financial etched its name as the best performing big IPO since 2020, here are the other over Rs 10,000-crore IPOs and how they fared on their listing.
Swiggy IPO:
Swiggy shares listed at a premium of nearly 8 percent over its IPO price on November 13, 2024. The shares debuted at Rs 420 apiece on NSE. The shares of the food delivery giant had defied subdued grey market expectations to make a decent debut.
The IPO was subscribed 3.59 times during its three days of public bidding, at a price band of Rs 371-390 per share. Investors could apply for a minimum of 38 shares, requiring an investment of Rs 14,820 at the upper price band, and in multiples thereafter. The listing price implies that investors made a profit of Rs 1,140 per lot.
LIC IPO:
The 21,000-crore IPO of Life Insurance Corporation of India (LIC) is the second biggest public issue launched in India. The shares of the company debuted at Rs 867 apiece on May 17, 2022. This marked a discount of nearly 9 percent from its IPO price of Rs 949 per share.
Investors could apply for a minimum of 15 shares, requiring an investment of Rs 14,235 at the upper price band of Rs 949 apiece, and in multiples thereafter. The listing price implies that investors made a loss of Rs 1,230 per lot.
Paytm IPO:
Paytm operator One 97 Communications also had made a weak market debut, listing at 9 percent discount to IPO price at Rs 1,950 apiece on November 18, 2021. The price band for the fintech firm's Rs 18,300-crore public issue was set at Rs 2,080-2,150 per share.
Investors could apply for a minimum of 6 shares, requiring an investment of Rs 12,900 at the upper price band, and in multiples thereafter. The listing price implies that investors made a loss of Rs 1,200 per lot.
Hyundai Motor India IPO:
Hyundai Motor India shares made a disappointing debut on stock markets, listing at a discount of 1.32 percent over the IPO price at Rs 1,934 apiece on October 22, 2024. The South Korean automaker's Rs 27,870-crore IPO is the largest public issue in India so far.
Investors could apply for a minimum of 7 shares, requiring an investment of Rs 13,720 at the upper price band of Rs 1,960 apiece, and in multiples thereafter. The listing price implies that investors made a loss of Rs 182 per lot.
While most of the over Rs 10,000-crore IPOs have had a disappointing debut in the 2020s, some relatively smaller public issues surpassed expectations.
Zomato (now known as Eternal) had made a stellar debut on July 23, 2021, after its Rs 9,375 crore public issue. The shares of the food delivery major listed with nearly 66 percent premium to IPO price at Rs 125.85 apiece.
Tata Technologies shares meanwhile listed with a whopping 140 percent premium to IPO price on November 30, 2023. The bumper debut following the Rs 9,127 crore IPO more than doubled investors wealth.
Bajaj Housing Finance also made a strong market debut, listing at 114 percent premium to IPO price on September 16, 2024. The company had raised Rs 6,560 crore though the public issue.
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