LG Electronics India had a remarkable debut on the stock market, listing at a 50% premium to its issue price of ₹1,140 per share on Tuesday. This listing marked the best performance for a billion-dollar initial public offering (IPO) in India since Eternal, the parent company of Zomato, went public in 2021.
An overview of significant billion-dollar IPOs in India over the past decade reveals varied outcomes:
SBI Cards and Payment Services (March 2020)
The credit card subsidiary of State Bank of India fell approximately 13% on its debut, as concerns surrounding the COVID-19 pandemic overshadowed one of the country’s largest public listings.
Eternal (formerly Zomato) (July 2021)
Zomato’s parent company debuted at a 51.3% premium to its issue price, achieving a valuation of around $13 billion. This success fueled interest among domestic startups considering their own IPOs.
One97 Communications (November 2021)
The parent company of Paytm experienced one of the worst showings for a major Indian stock market debut, listing at a 9% discount, and ending its first day 27% below the offering price due to profitability concerns and high enterprise valuation.
Life Insurance Corporation of India (May 2022)
The shares of India’s largest insurer dropped nearly 9% at debut, amid overall market volatility and worries about losing market share to competitors.
Hyundai Motor India (October 2024)
Shares of the automaker fell by 1.5% on its listing, receiving a lukewarm reaction from retail investors due to apprehensions regarding high valuations and an automotive sector slowdown.
Swiggy (November 2024)
The SoftBank-supported delivery platform listed at a 5.6% premium and saw its stock gain throughout the day, indicating increasing investor confidence within the sector.
NTPC Green Energy (November 2024)
The renewable energy company enjoyed a boost of up to 14% upon debut, as investors looked favorably on the rising demand for clean energy and the firm’s diverse portfolio.
HDB Financial Services (July 2025)
The non-banking financial arm of HDFC Bank jumped around 13% at listing, achieving a valuation of $8.2 billion as investors expressed optimism about long-term growth prospects in India.
Tata Capital (October 2025)
India’s third-largest non-bank lender had a subdued launch, debuting slightly above its issue price with a valuation of $15.78 billion. Investor interest appeared muted amidst a crowded IPO landscape and the absence of a valuation discount compared to listed peers.
This article was published on October 14, 2025.
