Hyundai Motor India Set to Launch India’s Largest IPO, Surpassing LIC’s Record

Hyundai Motor India is poised to launch the largest Initial Public Offering (IPO) in the country’s history. The IPO, valued at ₹27,870 crore, will open on October 15.

So far, the Life Insurance Corporation of India (LIC) held the record for the biggest IPO in India. However, Hyundai’s IPO is set to surpass LIC’s, reshaping the list of the country’s largest IPOs.

The Biggest IPOs in India So Far

Here’s a look at the top IPOs in India before Hyundai Motor India’s upcoming offering:

1. Life Insurance Corporation of India (LIC)
   LIC’s IPO holds the record for the largest IPO to date, with a size of ₹21,008 crore. It was oversubscribed 2.95 times.
2. One97 Communications (Paytm)
   Before LIC, the largest IPO was that of Paytm’s parent company, One97 Communications, valued at ₹18,300 crore. Despite being oversubscribed 1.89 times, the shares listed at a 27% discount.
3. Coal India Ltd.
   Coal India had the largest IPO before Paytm, worth ₹15,199 crore. It was oversubscribed 15.28 times, with shares listed at a 39% premium.
4. Reliance Power
   Launched in February 2008, Reliance Power’s ₹11,563 crore IPO was the largest at its time. Despite being oversubscribed 73 times, the shares listed at a 17% discount.
5. General Insurance Corporation (GIC)
   GIC’s IPO, worth ₹11,175 crore, was the largest at its time but was oversubscribed only 1.38 times. The shares listed at a 4.5% discount.
6. SBI Cards and Payment Services
   SBI Cards launched its ₹10,354 crore IPO just before the COVID-19 pandemic. The IPO was oversubscribed 26.5 times, but the shares listed at a 9.5% discount.

Follow-On Public Offers (FPOs)

Several large companies also issued Follow-On Public Offers (FPOs) in the past.

Vodafone Idea’s ₹18,000 crore FPO was the largest, while Adani Enterprises planned a ₹20,000 crore FPO in 2023 but later canceled it following the Hindenburg report.

Yes Bank’s ₹15,000 crore FPO and NMDC’s ₹9,930 crore FPO are other significant examples.

Hyundai Motor India’s IPO is expected to change the landscape of India’s financial markets by setting a new benchmark for public offerings.