India's 10 biggest ever IPOs, led by Paytm

Reuters | | Updated on: Nov 10, 2021
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Paytm's initial public offering of up to ₹18,300 crore is expected to be the country's largest stock market listing


Indian fintech firm Paytm's initial public offering of up to ₹18,300 crore ($2.47 billion) is expected to be the country's largest stock market listing, surging past miner Coal India's massive IPO more than a decade ago.

Here's a look at India's top 10 IPOs, according to Prime Database.

1. Coal India (2010) – the State-run miner raised ₹15,199 crore in what was India's biggest initial public offering of shares. Coal India is the world's largest coal miner.

2. General Insurance Corp of India (2017) – the reinsurer raised ₹11,257 crore.

3. SBI Cards & Payment Services (2020) – owned by the State Bank of India, the country's largest lender, the company raised ₹10,341 crore.

4. Reliance Power (2008) – helped by investors' faith in the family's name as a result of the group of companies set up by Anil Ambani's father, tycoon Dhirubhai Ambani, the company raised ₹10,123 crore.

5. New India Assurance(2017) – the State-run company raised ₹9,586 crore.

6. Zomato(2021) – the food delivery app raised ₹9,375 crore. Launched in 2008, the company collatesrestaurant reviews and offers home delivery of food, making it acompetitor to Indian start-up Swiggy and’s food delivery service.

7. DLF (2007) – the real estate company raised ₹9,188 crore.

8. HDFC Standard Life Insurance (2017) – now known as HDFC Life Insurance – raised ₹8,695 crore in its IPO. It competes with players including SBI Life Insurance.

9. SBI Life Insurance (2017) – the company raised ₹8,389 crore.

10. Gland Pharma (2020) – based in the southerntech hub of Hyderabad, the company raised ₹64.80 billion. Established in 1978, Gland Pharma makes injectable generic drugsand sells its products in over 60 countries.

Published on November 10, 2021

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