Hyundai Motor India, Swiggy, NTPC Green, Vishal Mega Mart, Bajaj Housing Finance: How 2024's biggest IPOs are faring

IPO momentum in 2024 was robust, with more than 90 mainboard initial public offerings (IPOs) opening for subscription. Over 240 SME issues also went live in the previous year.

The biggest IPOs of 2024, as per their issue size, were Hyundai Motor India, Swiggy, NTPC Green Energy, Vishal Mega Mart, Bajaj Housing Finance, Ola Electric Mobility, Afcons Infrastructure, Waaree Energies, Bharti Hexacom, and the International Gemmological Institute.

In this article, let's take a look at how the top five IPOs of 2024 are performing with respect to their issue price.

Hyundai Motor India IPO

The ₹27,858.75 crore initial share sale of Hyundai Motor India Ltd was India's biggest offer in terms of the issue size. It was completely an offer for sale of 14.22 crore shares. It had a price band of ₹1,865 to ₹1,960 per share.

The stock debuted on the National Stock Exchange (NSE) at ₹1,934 apiece, a discount of 1.32% against the issue price of ₹1,960 per share.

As of 11 am on June 30, 2025, the scrip is up 13.7% to ₹2,222.9 over the issue price. It hit its 52-week high of ₹2,233.80 on June 30 and low of ₹1,541.70 on April 7.

Its market capitalisation stands at ₹1,81,188.54 crore.

In the fourth quarter of the financial year 2024-25, the carmaker had reported a 1.52% increase in its consolidated revenue from operations to ₹1,79,402.77 crore.

However, profit after tax declined 3.74% to ₹16,143.45 crore.

Swiggy IPO

Shares of online food aggregator and quick commerce platform Swiggy Ltd were up 2.94% to ₹401.5 apiece compared to the issue price of ₹390.

The IPO was a fresh issuance of shares valued at ₹4,499.51 crore and an offer for sale aggregating to ₹6,827.92 crore. The stock debuted at a premium of 7.69% at ₹420 on the NSE.

The initial share sale received 3.59 times, with qualified institutional buyers (QIBs) subscribing their part 6.02 times, non-institutional investors 41% and retail investors 1.14 times.

The stock is part of the NIFTY NEXT 50 index.

NTPC Green Energy IPO

NTPC Green Energy's ₹10,000 crore IPO is only a fresh issuance of equity shares with no OFS component. The renewable energy company is a wholly owned subsidiary of NTPC Ltd.

The stock debuted at ₹111.5 a unit on the NSE, a premium of 3.24% to the issue price of ₹108 apiece. Currently, the scrip is down 1.85% to ₹106 from the issue price.

Its market capitalisation stands at ₹89,327.52 crore, while its free float m-cap is ₹9,820.04. It recorded its 52-week high of ₹155.35 per unit on December 4 and a low of ₹84.55 per share on March 3.

Vishal Mega Mart IPO

Vishal Mega Mart shares are trading 87% higher at ₹134.71 per unit over the issue price of ₹79 on the NSE. It had debuted at a premium of 33.33%.

The ₹8,000 crore initial public offer was booked 27.28 times during the three-day subscription window. QIBs' portion saw an 80.75-time subscription, while the NIIs' quota was subscribed 14.25 times. Retail investors fetched 2.31 times the subscription.

Vishal Mega Mart is a hypermarket chain involved in selling a wide range of products such as apparel, electronics, groceries and home essentials.

Bajaj Housing Finance IPO

Shares of Bajaj Housing Finance, a non-deposit-taking housing finance company, are trading at ₹122.14, up 74.48% over the issue price of ₹70. It had debuted at ₹150 per unit at a premium of 114.2% from the issue price.

The ₹6,560 crore issue was a mix of fresh issuance of shares aggregating to ₹3,560 crore and an OFS of ₹3,000 crore. The initial share sale was subscribed to 67.43 times.