The big truth about the IPO market: Not every big issue generates profits! Before Tata Capital and LG, learn about the past.

News Topical, Digital Desk : Tata Capital and LG Electronics India are launching their IPOs together next week. This raises the question of how the major IPOs in India have performed so far. Statistics show that even large issues don't always deliver impressive returns. Some make a splash upon listing, while others disappoint investors. Significantly, most of the major IPOs have launched in October and November.

Hyundai Motor India (October 2024):
This massive IPO of Rs 27,870 crore gave investors a mixed experience. Retail subscription was only 0.5x. Although it did gain 30% on the issue price upon listing, it later declined by 12%. 

LIC of India (May 2022): India's most talked-about IPO, worth Rs 21,008 crore, saw retail subscription of 1.99x. However, investors received a return of only 4%, and the stock fell 25% from its peak. 

Paytm (November 2021): This high-profile IPO of Rs 18,300 crore saw retail subscription of 1.66x. However, investors suffered a loss of 46%, and the stock fell 11% below its 52-week high. 

Coal India (November 2010): This IPO of Rs 15,200 crore has been in the news for a long time. Retail subscription was 2.3x, and investors have gained 59% so far. However, there has been a 27% decline from the peak. HDB Financial Services (July 2025): This IPO of Rs 12,500 crore was launched recently. Retail subscription was 1.5x. Currently, there is a slight increase of 3.5% over the issue price, but it is 14% below the listing high. 

Swiggy (November 2024): This IPO of Rs 11,327 crore saw retail subscription of 1.1x. Investors have gained only 6%, and there has been a 33% decline from the peak. 

General Insurance Corp (October 2017): This IPO of Rs 11,175 crore saw retail subscription of only 0.6x. A 20% loss so far and a 30% decline from its highs. 

SBI Cards' (March 2020) IPO of Rs 10,354 crore was a hit with retail investors, with a 2.5x subscription. A 16% gain so far, but still 15% below its peak.

NTPC Green Energy (November 2024) This IPO of Rs 10,000 crore was a favorite among retail investors, with a 3.6x subscription. However, it is currently trading 9% below its issue price and down 36% from its highs. The data clearly shows that investing in IPOs based solely on their name and size is not a good idea. This track record, even before the IPOs of Tata Capital and LG Electronics India, serves as a warning to investors that not every large IPO generates profits.
 

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