NSE’s modest listing puts spotlight on muted gains from big IPOs
The National Stock Exchange saw a solid 2% rise on its debut day following its IPO. In recent months, several major IPOs in India have struggled after their launch, with Hyundai Motor India and LIC experiencing steep losses on their first day. Conversely, LG Electronics India enjoyed a strong debut, while ICICI Prudential Asset Management held above its initial offer price.
The National Stock Exchange (NSE) had a modest listing, with the stock gaining only 2% on its debut day. This modest performance has drawn attention to the listing results of India's biggest IPOs, many of which have failed to achieve the impressive "listing pop" typically associated with a strong primary market. Several recent large issuances have either listed at a discount or achieved only modest gains.
For instance, Hyundai Motor India, the largest IPO by issue size raised in India in October 2024, saw its shares drop 7.1% on the listing day. Similarly, LIC's listing in May 2022 resulted in a 7.7% decline, while One97 Communications, the operator of Paytm, saw its shares tumble 27.2% on its debut. Even Tata Capital, which raised ₹15,512 crore in October 2025, only managed a modest 1.3% gain on its listing day.
However, there have been exceptions to this trend, with some companies performing significantly better after one year on the market. LG Electronics India, for example, surged 48.2% on its debut and is now trading about 48% above its issue price. Similarly, ICICI Prudential Asset Management, which listed in December 2025, is currently trading about 47% above its offer price.
Written by urgent.news from The Economic Times - Top News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
