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NSE IPO closes soon: Here is how India's largest IPOs fared at listing
4 min read | Updated on September 21, 2026, 13:52 IST
SUMMARY
Investors will closely monitor the listing day performance of the NSE, considering its issue size and market dominance. However, the largest IPOs have shown mixed performance at listing.
7 out of 12 mega IPOs listed at premium with LG Electronics India delivering 50% premium over the issue price.
The first mega IPO of 2026 is witnessing a strong response from investors as the NSE IPO got fully subscribed on Day 2 of subscription. The NSE IPO is now oversubscribed at 1.70x on Monday morning, on its last day of subscription. Investor optimism around the IPO remains robust despite its mega issue size of over ₹22,500 crore.
NSE IPO day 3 status
The NSE IPO secured a strong response on the last day of subscription as the overall IPO remains oversubscribed at 3.0x at 1:40 pm, with the qualified institutional portion getting 5.43x oversubscribed, followed by NII at 4.3x, while the retail portion, which is over 50% of the overall issue size, fully subscribed at 1.0x.
Meanwhile, the allot is likely to be finalised on Tuesday, September 22 and the listing will take place on September 24. Investors will closely monitor the listing day performance of the NSE, considering its issue size and market dominance. However , largest IPOs have shown mixed bag performance at listing.
| Company | Issue size (in ₹ crore) | Subscription (in times) | Issue price in ₹ | Listing price in ₹ | Premium/Discount in % |
|---|---|---|---|---|---|
| Hyundai Motor India | 27,858.75 | 1.93x | 1960 | 1934 | -1.3% |
| LIC of India | 20,557.23 | 2.05x | 949 | 872 | -8.1% |
| Paytm (One97) | 18,300.00 | 1.48x | 2150 | 1950 | -9.3% |
| Tata Capital | 15,511.87 | 1.65x | 326 | 330 | 1.22% |
| Coal India | 15,200.00 | 15.2x | 245 | 291 | 18.7% |
| HDB Financial Services | 12,500.00 | 13x | 740 | 835 | 12.8% |
| Reliance Power | 11,700.00 | 70x | 450 | 530 | 17.7% |
| LG Electronics India | 11,604.73 | 38x | 1,140 | 1,710 | 50% |
| Swiggy | 11,327.43 | 2.42x | 390 | 420 | 7.6% |
| GIC of India | 11,256.83 | 1.34x | 912 | 850 | -6.7% |
| SBI Cards & Payment | 10,355.00 | 19.2x | 755 | 661 | -12.45% |
| NTPC Green Energy | 10,000.00 | 1.91x | 108 | 111 | 2.7% |
Key observations
Out of the 12 mega IPOs ( ₹10,000 crore issue size), 7 have listed with premium to their respective issue price, while 5 others in discount to issue price. Shares of LG Electronics India listed with over 50% premium to the issue price as the IPO was oversusbcribed by 38x. Meanwhile, the SBI Card and Payments gave the weakest debut performance by listing at -18% discount to the issue price, despite 19x over subscription.
The top three mega IPOs of the recent past witnessed weak performance on listing and modest subscription figures. Hyundai Motors India, LIC of India & Paytm, broadly witnessed oversubscription of 2x saw weak listing at discount to their respective issue price.Hyudai Motors shares listed almost flat-to-negative at -1.3%, while LIC of India and Paytm shares listed at -8.3% and -9% discount to the issue price.
What factors impact listing price?
The IPO listing performance is broadly determined by combination of factors including broader market sentiment, valuation, growth potential of the company and the issue size. Shares of LG Electronics India, which was an entire offer-for-sale delivered robust listing premium of 50%, led by company’s scale, market share in electronic segment and general positive sentiment during October 2025, when the NIFTY50 surged 4.5% during the month. On the contrary, SBI cards & Payment shares listed at steep discount to issue price as the markets were undergoing through stress of covid-19 lockdowns during March 2020. Similarly, Hyundai Motors India shares listed at minimal discount, owing to its huge issue size of ₹27,858 crore.
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