In the dynamic world of finance, Initial Public Offerings (IPOs) and Follow-on Public Offerings (FPOs) are pivotal events that not only raise significant capital but also capture the attention of investors worldwide. India has seen some monumental IPOs and FPOs that have left a lasting impact on the market. Let’s delve into the performance of India’s 10 biggest IPOs and FPOs over the years.
1. LIC | IPO
Issue Size: ₹20,557 crore
Year: May 2022
No. of times subscribed: 2.7 times
The Life Insurance Corporation (LIC) IPO, launched in May 2022, was one of the most anticipated IPOs in recent history. Despite market volatility, it was subscribed 2.7 times, reflecting strong investor interest in the insurance giant.
2. One97 Communications | IPO
Issue Size: ₹18,300 crore
Year: November 2021
No. of times subscribed: 1.5 times
One97 Communications, the parent company of Paytm, went public in November 2021. The IPO was subscribed 1.5 times, indicating a moderate yet positive response from the market, as investors weighed the company’s growth potential against its financials.
3. Vodafone Idea | FPO
Issue Size: ₹18,000 crore
Year: April 2024
No. of times subscribed: 7 times
Vodafone Idea’s FPO in April 2024 was a significant move to reduce debt and improve its financial health. The offering was a resounding success, being subscribed 7 times, showcasing strong investor confidence in the telecom sector’s revival.
4. Coal India | IPO
Issue Size: ₹15,199 crore
Year: October 2010
No. of times subscribed: 15.2 times
Coal India’s IPO in October 2010 remains one of the most successful in India’s history. With a subscription rate of 15.2 times, it attracted massive investor interest, capitalizing on the company’s leading position in the coal industry.
5. Yes Bank | FPO
Issue Size: ₹15,000 crore
Year: July 2020
No. of times subscribed: 0.9 times
Yes Bank’s FPO in July 2020 was a crucial effort to raise capital amidst financial challenges. However, the subscription fell short, reaching only 0.9 times, reflecting investor skepticism about the bank’s turnaround plans.
6. Reliance Power | IPO
Issue Size: ₹11,700 crore
Year: January 2008
No. of times subscribed: 61.5 times
The Reliance Power IPO in January 2008 is legendary, being subscribed an astounding 61.5 times. Despite the initial frenzy, the stock’s performance post-listing was underwhelming, serving as a reminder of the importance of fundamentals over hype.
7. General Insurance | IPO
Issue Size: ₹11,176 crore
Year: October 2017
No. of times subscribed: 1.4 times
General Insurance’s IPO in October 2017 was met with moderate interest, being subscribed 1.4 times. The offering highlighted the growing investor appetite for the insurance sector.
8. ONGC | IPO
Issue Size: ₹10,695 crore
Year: March 2004
No. of times subscribed: 1.6 times
The Oil and Natural Gas Corporation (ONGC) IPO in March 2004 was a landmark event, with a subscription rate of 1.6 times. It paved the way for other public sector enterprises to tap into the equity markets.
9. SBI Card | IPO
Issue Size: ₹10,341 crore
Year: March 2020
No. of times subscribed: 25.9 times
SBI Card’s IPO in March 2020 was a blockbuster, with a subscription rate of 25.9 times. The success underscored the growing consumer finance market in India and the trust in SBI’s brand.
10. NMDC | FPO
Issue Size: ₹9,967 crore
Year: March 2010
No. of times subscribed: 1.2 times
NMDC’s FPO in March 2010 was moderately successful, with a subscription rate of 1.2 times. It reflected the stable yet cautious investor sentiment towards the mining sector.
Conclusion
The performance of these IPOs and FPOs offers valuable insights into market trends, investor behavior, and the sectors that capture public interest. From the overwhelming subscription rates of Reliance Power and Coal India to the cautious optimism towards Yes Bank and General Insurance, each offering tells a unique story. As we look forward to future public offerings, these historical benchmarks provide a crucial reference point for investors and companies alike.
Stay tuned for more insights on market trends and investment
opportunities.