India’s primary market has been in a stellar run over the last two years, with marquee issues such as the National Stock Exchange, SBI Funds Management, and Manipal Health Enterprises.

Investors are now focused on Jio Platforms, the country’s largest IPO which can raise up to Rs 30,213 crore. Jio Platforms, the digital arm of Mukesh Ambani’s Reliance Industries, is set to take the crown from Hyundai Motor India, just two years after the automobile giant went public.

Here is a glance of the top five IPOs in India, in terms of the issue size:

Jio Platforms filed its draft papers on June 19, and the market regulator SEBI sent back its observations on August 28. The price band for the offer has been fixed at Rs 1,065 to Rs 1,119 per share. At the upper end of the band, the offering could raise Rs 30,213 crore, making it the largest public offering in India’s history.

The offer includes a fresh issue of up to 27 crore shares, each with a face value of Rs 10. The IPO will open for public bidding on October 21 and will close its subscription window on October 23. Its share allotment process is expected to be completed by October 26 and Jio Platforms is likely to list on the NSE and BSE on October 28.

The Indian arm of South Korean automobile giant Hyundai Motor Co, went public in October 2024. The issue had raised Rs 27,870 crore through its public offer, and was entirely an offer for sale. Its parent Hyundai Motor had sold a 17.5% stake in the OFS.

The Hyundai Motor India share price had listed at a discount and closed over 7% lower on debut.

India’s leading stock exchange launched its public offer last month. The issue was solely an OFS by its existing shareholders. The issue size was Rs 22,569 crore.

The stock listed at Rs 1,800 on the BSE on September 24, with marginal listing gains of 0.84% from its issue price of Rs 1,785.

India’s largest insurer had launched its IPO in May 2022. The issue was an OFS by the government, which had sold a 3.5% stake in LIC. The issue size was Rs 21,000 crore.

The shares, however, had plunged around 8% on their debut.

The digital payments company Paytm, which operates under One97 Communications, had raised Rs 18,300 crore through its IPO. The offer was a mix of fresh issue and OFS.

Paytm’s share had listed at a discount of around 9% in November 2021, and had closed around 27% lower on their debut.