The NSE IPO is set to make its stock-market debut on September 24, putting the spotlight on how some of India’s largest public issues have performed after listing.
The ₹22,569-crore NSE issue attracted strong investor demand, with subscription levels significantly higher than several major IPOs of recent years. The listing will now offer the first market-based assessment of the exchange’s valuation.
Among the largest Indian IPOs, Hyundai Motor India raised ₹27,859 crore in October 2024. Its shares debuted at ₹1,934, a 1.3% discount to the ₹1,960 issue price. The stock closed its first trading day at ₹1,820, down 7.16% from the issue price.
LIC, which raised ₹20,557 crore in 2022, also made a weak debut, while Paytm faced a sharp decline on its market debut after its ₹18,300-crore IPO.
In contrast, Tata Capital and Coal India delivered positive returns on their listing days, according to the data cited in the report.
The contrasting debut performances highlight the uncertainty surrounding large IPOs, where strong subscription demand does not necessarily translate into gains immediately after listing.
With NSE attracting substantial institutional interest, investors will closely track its opening price and first-day trading performance on September 24.
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