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

As of now, the National Stock Exchange (NSE) of India is set to launch its initial public offering (IPO) next week. This offer-for-sale, which does not involve raising fresh capital, is projected to value NSE at around $46 billion, positioning it as the country's third-largest IPO. Meanwhile, Reliance Jio Platforms, a venture led by billionaire Mukesh Ambani, is anticipated to hold its IPO later this year, with an expected raise of approximately $3.8 billion, making it the largest-ever stock offering in India.

India's largest-ever IPO to date was Hyundai, the world's third-largest automaker and India's fourth-biggest vehicle manufacturer, which raised ₹27,870 crore ($2.95 billion) in October 2024. The South Korean conglomerate's offering consisted of a pure offer-for-sale where existing shareholders sold shares without raising new capital. Similarly, Reliance Jio Platforms is expected to utilize a similar strategy, with its major investors planning to dilute their stakes.

Meanwhile, the Indian government collected roughly ₹20,500 crore ($2.17 billion) from the sale of a 3.5% stake in India's largest insurance provider and biggest financial investor. This figure significantly deviates from the government's initial target of raising up to $12 billion. Paytm, an Indian fintech firm, managed to raise ₹18,300 crore in November 2021 through a combination of a fresh share issue and an offer for sale.

Ant Group, another major player, reduced its stake in Paytm from 28% to 23%, alongside SoftBank's Vision Fund, which decreased its holding to 16%. Paytm's debut witnessed a staggering drop of more than 27%, making it the most significant listing-day decline in Indian IPO history at that time.

The Tata Group's financial services arm managed to raise ₹15,500 crore in October 2025 through an offer for sale, alongside a fresh issue. This IPO was the largest-ever by a non-banking financial company in India. The shares were listed at a slight premium of 1.23%. South Korean electronics giant LG Electronics sold a 15% stake in its Indian subsidiary, a manufacturer of electronic home appliances, in a pure offer for sale.

The issue was highly oversubscribed, attracting bids worth approximately ₹4.4 lakh crore, leading to a surge of 50% in LG's shares on the first day of trading.