Archive · 24 Sep 2026
India’s Top IPOs Show Mixed Debut-Day and Long-Term Results
This report compares how three large Indian companies performed after selling shares to the public.
Hyundai Motor India had a slightly weak first day.
Its shares later rose to a record high before falling back somewhat.
LIC also had a weak first day, but its shares eventually recovered strongly.
Paytm started below its IPO price and later fell much further.
The stock then made a large recovery from its lowest point.
Even after recovering, Paytm was still below its original IPO price.
The comparison was published before the planned NSE listing.
Hyundai Motor India debuted at ₹1,934 against an IPO price of ₹1,960 in October 2024 and later reached a record high of ₹2,890.
At Wednesday’s close of ₹2,095, Hyundai Motor India remained 8.3% above its IPO price despite a recent correction.
LIC listed in May 2022 at ₹867.20, 8.62% below its ₹949 issue price, but later gained about 100% between April 2023 and August 2024.
Paytm debuted in November 2021 at ₹1,950, below its ₹2,150 IPO price, and later fell to around ₹310.
Paytm subsequently recovered about 472% from its record low to ₹1,775, but remained 17.44% below its IPO price.
- Who
- Hyundai Motor India, Life Insurance Corporation of India, and One 97 Communications, the parent company of Paytm.
- What
- A comparison of the three companies’ IPO issue prices, listing-day performance, and subsequent share-price movements.
- When
- Hyundai listed in October 2024, LIC in May 2022, and Paytm in November 2021; the report precedes NSE’s planned September 24 debut.
- Where
- On Indian stock exchanges, ahead of the National Stock Exchange’s planned debut on Dalal Street.
- Why
- To give investors a reference point for how major Indian IPOs performed before the NSE listing.
- Hyundai IPO size
- ₹27,858 crore
- Hyundai listing performance
- Listed at ₹1,934 versus an issue price of ₹1,960; Wednesday closing price was ₹2,095.
- LIC IPO size
- ₹20,557 crore; subscribed 2.05 times.
- LIC listing performance
- Listed at ₹867.20, or 8.62% below its ₹949 issue price; closed its first session at ₹875.25.
- Paytm IPO size
- ₹18,300 crore.
- Paytm listing performance
- Listed at ₹1,950, 9.3% below its ₹2,150 issue price.
- Paytm recovery
- At ₹1,775, the stock was reported to be up about 472% from its record low but still 17.44% below its IPO price.