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

National Stock Exchange (NSE), India's largest stock exchange, will open its initial public offering next week.

The offer-for-sale, which does not include any fresh capital being raised, will value NSE at close to $46 billion, which would make it the country's third-largest IPO.

Billionaire Mukesh Ambani's Reliance Jio Platforms IPO, likely later this year, is expected to raise about $3.8 billion, making it the country's biggest-ever stock offering.

Here are the five largest Indian IPOs to date:

HYUNDAI MOTOR INDIA

Hyundai, the world's third-largest automaker and India's fourth-biggest passenger vehicle maker, raised ₹27,870 crore ($2.95 billion) in October 2024 in what is currently India's biggest-ever IPO.

The manufacturer's South Korean parent sold a 17.5 per cent stake in a pure offer-for-sale, where existing shareholders sell shares and no new capital is raised. Jio Platforms is expected to use a similar approach, with the company's major investors set to dilute their stakes.

LIFE INSURANCE CORPORATION OF INDIA

The government pocketed roughly ₹20,500 crore ($2.17 billion) from selling a 3.5 per cent stake in India's largest insurer and biggest domestic financial investor, a far cry from its initial target of up to $12 billion.

The shares slid nearly 8 per cent on their debut.

PAYTM

Paytm, an Indian fintech firm, raised ₹18,300 crore in November 2021 in a mix of a fresh share issue and an offer for sale. Ant Group reduced its stake to 23 per cent from 28 per cent and SoftBank's Vision Fund pared its holding to 16 per cent.

Paytm lost more than 27 per cent on its debut, the biggest listing-day drop in Indian IPO history at the time.

TATA CAPITAL

The Tata Group's financial services arm raised ₹15,500 crore in October 2025, with Tata Sons and IFC among those selling in the offer for sale component alongside a fresh issue. The IPO was the largest-ever by a non-banking financial company in India. The shares listed at a slight premium of 1.23 per cent.

LG ELECTRONICS INDIA

South Korean parent LG Electronics offloaded a 15 per cent stake in its Indian unit, a maker of refrigerators, washing machines, air conditioners and televisions, in a pure offer for sale issue, netting ₹11,600 crore in October 2025.

The IPO was oversubscribed 54 times - the most heavily subscribed major Indian IPO since Reliance Power's listing in 2008 - attracting bids worth about ₹4.4 trillion.

LG's shares surged 50 per cent on their first day of trading, valuing the unit higher than its Seoul-based parent.