You have decided to leap into investing and are curious about the biggest opportunities that have shaped India's financial landscape. Over the past decade, several Initial Public Offerings (IPOs) have captured the spotlight, transforming the stock market with impressive debuts. From tech giants to financial behemoths, these IPOs have not only drawn attention but also delivered substantial returns for investors
Life Insurance Corporation of India (LIC) held its record-breaking Initial Public Offering (IPO) from May 4 to May 9, 2022. This IPO, the largest ever in Indian history, sought to raise around ₹21,008.48 crores by issuing 22.14 crore shares within a price range of ₹902 to ₹949 per share. The offering was a complete offer for sale, with a special discount of ₹45 per share for policyholders and employees. The shares began trading on the BSE and NSE on May 17, 2022.
The IPO was met with intense enthusiasm, with policyholders oversubscribing their reserved shares by 1.99 times and employees fully subscribing to their allocation. Retail investors were allotted 31.25% of the shares. This successful IPO highlighted LIC's robust market position and investor confidence in its future growth.
Digital payments giant Paytm holds the distinction of having the largest IPO ever in the Indian market. On November 8, 2021, One97 Communications Ltd, Paytm's parent company, launched an impressive ₹18,300-crore initial public offering (IPO).
The IPO was priced between ₹2,080 and ₹2,150 per share. After the issue closed on November 10, 2021, shares began trading on November 18, 2021, debuting at ₹1,955—a 9% discount from the issue price of ₹2,150.
The Paytm IPO saw a subscription rate of 1.89 times, driven by strong interest from qualified institutional buyers (QIBs) and retail investors. As of May 3, 2022, Paytm shares were trading at ₹601.55 on the BSE, with a market capitalisation of ₹39,014.57 crore.
The ₹11,176-crore worth IPO opened for public subscription from October 11 to October 13, 2017. The issue was sold in ₹855-912 price band and received 1.38 times the subscription, mainly due to QIB buying while other investor categories were under-subscribed.
The stock is listed at a discount of 7% at ₹850 against its issue price of 912. General Insurance Corporation of India (GIC Re) is the largest reinsurance company in the Indian market. As of May 3, 2022, the stock price is at ₹133.70 apiece on the BSE and commands a market capitalisation of ₹23,456.33 crore.
The ₹9,600-crore IPO of New India Assurance Company hit the street in November 2017. The IPO was sold during November 1- 3, 2017, at a price band of ₹770 to ₹800 per share. The company had offered a discount of ₹30 per share to retail investors and employees.
The IPO was subscribed 1.20 times, led by QIBs. The stock was listed at ₹749 apiece, a discount of 6% to the issue price of ₹800. As of May 3, 2022, the shares quoted ₹116.60 apiece on the BSE and had a market cap of ₹19,215.68 crore.
Zomato, an online food service platform, was one of the first new-age tech companies to get listed on the bourses. The ₹9,375-crore Zomato IPO witnessed strong interest from retail investors. The IPO opened on July 14-16, 2021, at a price band of ₹72 to ₹76 per share.
Zomato IPO was subscribed 38.25 times overall. The stock was listed on the exchanges with a premium of 51% at ₹115 against its issue price of ₹76. However, given the overall weakness in the market, Zomato shares lost much of its value. As of May 3, 2022, they are trading below the IPO price at ₹69.45 apiece on the BSE, commanding a market cap of ₹54,670.57 crore.
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