Factbox: As NSE, Reliance Jio eye listings, what are India's biggest share offerings?

Softbank

11/09/2026 06:35

Updates to add details from NSE IPO
MUMBAI, Sept 11 (Reuters) - National Stock Exchange (NSE), India's largest stock exchange, will open its initial public offering next week.
 The offer-for-sale, which does not include any fresh capital being raised, will value NSE at close to $46 billion, which would make it the country's third-largest IPO.
 Billionaire Mukesh Ambani's Reliance Jio Platforms IPO, likely later this year, is expected to raise about $3.8 billion, making it the country's biggest-ever stock offering.
Here are the five largest Indian IPOs to date:
     
HYUNDAI MOTOR INDIA
Hyundai HYUN.NS, the world's third-largest automaker and India's fourth-biggest passenger vehicle maker, raised 278.7 billion rupees ($2.95 billion) in October 2024 in what is currently India's biggest-ever IPO.
The manufacturer's South Korean parent 005380.KS sold a 17.5% stake in a pure offer-for-sale, where existing shareholders sell shares and no new capital is raised. Jio Platforms is expected to use a similar approach, with the company's major investors set to dilute their stakes.
     
LIFE INSURANCE CORPORATION OF INDIA
The government pocketed roughly 205 billion rupees ($2.17 billion) from selling a 3.5% stake in India's largest insurer and biggest domestic financial investor LIFI.NS, a far cry from its initial target of up to $12 billion. 
The shares slid nearly 8% on their debut.
     
PAYTM
Paytm PAYT.NS, an Indian fintech firm, raised 183 billion rupees in November 2021 in a mix of a fresh share issue 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.
     
TATA CAPITAL
The Tata Group's financial services arm TATC.NS raised 155 billion rupees 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%.
     
LG ELECTRONICS INDIA
South Korean parent LG Electronics 066570.KS offloaded a 15% stake in its Indian unit LGEL.NS, a maker of refrigerators, washing machines, air conditioners and televisions, in a pure offer for sale issue, netting 116 billion rupees in October 2025.
     The IPO was oversubscribed 54 times — the most heavily subscribed major Indian IPO since Reliance Power's listing in 2008 — attracting bids worth about 4.4 trillion rupees.
LG's shares surged 50% on their first day of trading, valuing the unit higher than its Seoul-based parent.
      ($1 = 94.3800 Indian rupees)

(Reporting by Vibhuti Sharma and Jayshree P. Upadhyay in Mumbai; Editing by Aditya Kalra, Kate Mayberry and Kevin Buckland)
((Vibhuti.Sharma@thomsonreuters.com;))