Jio Platforms Listing: Revisiting the Debut Performance of 10 Major Indian IPOs

Mumbai, Oct 28: Jio Platforms shares are scheduled to list on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) today, following its ₹30,213 crore initial public offering (IPO). Ahead of the listing, the debut-day performance of 10 major Indian IPOs offers a historical comparison of how their shares opened and closed on the two exchanges. 

The outcomes varied considerably. LG Electronics India closed 48.24% above its issue price on the NSE and 48.19% higher on the BSE. Coal India recorded gains of 39.82% and 39.73%, respectively. In contrast, Paytm closed 27.40% below its issue price on the NSE and 27.25% lower on the BSE. Hyundai Motor India, LIC and GIC Re also ended their debut sessions below their respective issue prices. These comparisons use the listing-day closing price against the IPO issue price. 

1. Hyundai Motor India: Shares Fell 7.16% on NSE and 7.12% on BSE

Hyundai Motor India listed on 22 October 2024 at an issue price of ₹1,960 per share. On the NSE, the stock opened at ₹1,934, a discount of 1.33%, and closed at ₹1,819.60, down 7.16% against the issue price. On the BSE, it opened at ₹1,931, a discount of 1.48%, and closed at ₹1,820.40, a decline of 7.12%. 

The closing prices were lower than the opening prices on both exchanges, showing that the shares weakened during the first trading session. The IPO raised approximately ₹27,859 crore. Its listing illustrates how a large public issue can begin trading below its offer price and finish the day at a wider discount. 

2. LIC: Shares Closed 7.77% Lower on NSE and 7.75% on BSE

Life Insurance Corporation of India (LIC) listed on 17 May 2022 at an issue price of ₹949 per share. On the NSE, the stock opened at ₹872, down 8.11% from the issue price, and closed at ₹875.25, a decline of 7.77%. On the BSE, it opened at ₹867.20, a discount of 8.62%, and closed at ₹875.45, down 7.75%. 

LIC shares recovered slightly from their opening levels on both exchanges but remained below the IPO price at the close. The public issue raised approximately ₹20,557 crore. The closing figures show that the initial discount narrowed during the session, although the recovery was insufficient to bring the stock back to its offer price. 

3. Paytm: Shares Lost 27.40% on NSE and 27.25% on BSE

One 97 Communications, the parent company of Paytm, listed on 18 November 2021 at an issue price of ₹2,150 per share. On the NSE, the stock opened at ₹1,950, down 9.30%, before closing at ₹1,560.80, a fall of 27.40% against the issue price. On the BSE, it opened at ₹1,955, a discount of 9.07%, and closed at ₹1,564.15, down 27.25%. 

The closing prices were substantially below both the issue price and the opening levels. As a result, the discount widened significantly over the course of the first session. Paytm’s IPO raised approximately ₹18,300 crore, and its debut remains one of the weakest performances among the large issues in this comparison. 

4. Coal India: Shares Gained 39.82% on NSE and 39.73% on BSE

Coal India listed on 4 November 2010 at an issue price of ₹245 per share. On the NSE, the stock opened at ₹291, a premium of 18.78%, and closed at ₹342.55, gaining 39.82% against the issue price. On the BSE, it opened at ₹287.75, a premium of 17.45%, and closed at ₹342.35, up 39.73%. 

The shares rose considerably from their opening prices and ended the session at substantial premiums on both exchanges. Coal India’s IPO raised approximately ₹15,199 crore. The difference between the NSE and BSE closing gains was just 0.09 percentage points, placing the issue among the strongest listing-day performers in this group. 

5. LG Electronics India: Shares Gained 48.24% on NSE and 48.19% on BSE

LG Electronics India listed on 14 October 2025 at an issue price of ₹1,140 per share. On the NSE, the stock opened at ₹1,710.10, a premium of 50.01%, and closed at ₹1,689.90, up 48.24%. On the BSE, it opened at ₹1,715, a premium of 50.44%, and closed at ₹1,689.40, a gain of 48.19% against the issue price. 

Although the shares closed below their opening levels, they retained a substantial premium over the IPO price on both exchanges. The issue raised approximately ₹11,607 crore. LG Electronics India recorded the highest closing gain against the issue price among the 10 IPOs considered here, narrowly ahead of Coal India in this comparison. 

6. Swiggy: Shares Gained 16.92% on NSE and 16.91% on BSE

Swiggy listed on 13 November 2024 at an issue price of ₹390 per share. On the NSE, the stock opened at ₹420, a premium of 7.69%, and closed at ₹456, gaining 16.92% against the issue price. On the BSE, it opened at ₹412, a premium of 5.64%, and closed at ₹455.95, up 16.91%. 

The stock finished above its opening price on both exchanges. During the session, it reached an intraday high of ₹465.80 on the NSE and ₹465.30 on the BSE. Swiggy’s IPO raised approximately ₹11,327 crore. Its closing prices on the two exchanges differed by only ₹0.05 per share, resulting in almost identical listing gains. 

7. Tata Capital: Shares Gained 1.56% on NSE and 1.35% on BSE

Tata Capital listed on 13 October 2025 at an issue price of ₹326 per share. On the NSE, the stock opened at ₹330, a premium of 1.23%, and closed at ₹331.10, a gain of 1.56%. On the BSE, it also opened at ₹330 and closed at ₹330.40, up 1.35% against the issue price. 

The stock finished above the IPO price on both exchanges, although its closing gains were considerably smaller than those recorded by LG Electronics India, Coal India and Swiggy. Tata Capital’s public issue raised approximately ₹15,511.87 crore. The difference between the closing gains on the two exchanges was 0.21 percentage points. 

8. HDB Financial Services: Shares Gained Around 14% on Both Exchanges

HDB Financial Services listed on 2 July 2025 at an issue price of ₹740 per share. On the NSE, the stock closed at ₹840.95, gaining approximately 13.64% against the issue price. On the BSE, it opened at ₹835 and closed at ₹840.90, a gain of approximately 13.64%. 

The closing prices on both exchanges were above the IPO price by more than ₹100 per share. The public issue raised approximately ₹12,500 crore. Its debut was positive on both exchanges, with the closing prices differing by just ₹0.05 per share. 

9. GIC Re: Shares Fell 1.54% on NSE and 4.56% on BSE

General Insurance Corporation of India, commonly known as GIC Re, listed on 25 October 2017 at an issue price of ₹912 per share. On the NSE, the stock opened at ₹850, a discount of 6.80%, and closed at ₹898, down 1.54% against the issue price. On the BSE, it also opened at ₹850 but closed at ₹870.40, a decline of 4.56%. 

The shares recovered from their opening prices on both exchanges but failed to reach the IPO price by the end of the session. The NSE closing price was closer to the issue price than the BSE closing price, creating a difference of 3.02 percentage points between the losses recorded on the two exchanges. 

10. NSE IPO: Shares Gained 1.85% in Their BSE Debut

The National Stock Exchange of India’s own IPO listed on the BSE on 24 September 2026 at an issue price of ₹1,785 per share. The stock opened at ₹1,800, a premium of 0.84%, and closed at ₹1,818, gaining approximately 1.85% against the issue price. The IPO raised approximately ₹22,561.57 crore. 

The NSE’s shares made their debut on the BSE rather than on the NSE itself. Therefore, there is no separate NSE listing price to compare for this IPO. The stock closed above its opening price, but its gain against the issue price remained modest compared with the stronger debuts of LG Electronics India and Coal India. 

As Jio Platforms approaches its scheduled listing on 28 October 2026, the historical records of these 10 IPOs provide a comparison of first-day opening and closing prices against their issue prices. The outcomes ranged from substantial gains to declines, with some stocks also recording considerable movement between their opening prices, intraday levels and closing prices. These figures describe historical listing performance only and do not establish the outcome of Jio Platforms’ debut.