NSE IPO vs Reliance Jio IPO: Issue size compared

NSE IPO vs Reliance Jio IPO: The two much-awaited IPOs of NSE and Reliance Jio will likely hit the Dalal Street in 2026. One is from the the National Stock Exchange of India (NSE), India's largest stock exchange by trading volume and the world's largest derivatives exchange by contracts traded. The issue size of the NSE IPO is pegged around Rs 30,000 crore after the bourse filed the DRHP with SEBI on Wednesday. This implies a market capitalisation of over Rs 5 lakh crore. NSE has around 1.8 lakh shareholders.

NSE's revenue more than doubled between April 2019 and April 2026 to about Rs 18,700 crore, led by strong growth in options trading. 

NSE IPO, the largest by issue size till date in India could soon see Mukesh Ambani's Reliance Jio bagging the top spot with its share sale.

The Jio IPO could be worth as much as $4 billion, according to a Reuters report in January 2026 citing sources. Though the final numbers will only be decided later, the report added. That amount going by the current exchange rate amounts to Rs 37,776 crore. 

Last year, in November, investment bank Jefferies pegged valuation of India's largest telecom operator at $180 billion. RIL CMD Mukesh Ambani had guided for the Jio IPO in H1 2026 at the 48th AGM in August 2025. 

Meanwhile, four other big IPOs according to their issue size have attracted investor attention.

Here's a look at them.

Hyundai Motor India IPO

Issue size: Rs 27,858 crore

The initial public offering (IPO) of Hyundai Motor India was open for subscription between October 15 and October 17, 2024, with the company's shares debuting on the BSE and NSE on October 22, 2024. The issue was priced in the range of Rs 1,865-1,960 per share, with a minimum application size of seven shares, requiring a retail investment of Rs 13,720.

Despite strong expectations, the stock listed at Rs 1,820.40, marking a discount of about 7% to the upper end of the issue price. Since its market debut, however, Hyundai Motor India shares have recovered and are currently trading around 9% above their listing price.

LIC IPO

Issue size: Rs 20,557 crore

The IPO of Life Insurance Corporation of India (LIC) was open for bidding from May 4 to May 9, 2022, and the stock was listed on the BSE and NSE on May 17, 2022. The shares were offered in a price band of Rs 902-949 apiece, with investors required to apply for a minimum of 15 shares.

LIC stock debuted at Rs 875.45 per share, representing a discount of nearly 8% to the issue price of Rs 949. Since listing, the stock has remained under pressure and is currently trading about 51% below its debut price.

Paytm IPO

Issue size:Rs 18,300 crore

The IPO of fintech major Paytm was open for subscription from November 8 to November 10, 2021. The allotment was finalised on November 15, while the shares were listed on the BSE and NSE on November 18, 2021.

The issue was priced at Rs 2,080-2,150 per share, with a lot size of six shares. Paytm made a weak debut, listing at Rs 1,950, which was about 9.3% lower than the upper end of the IPO price band. The stock has continued to trade below its listing levels and has fallen around 43% from its market debut price.

Tata Capital IPO

Issue size: Rs 15,511 crore

Tata Capital's IPO was open for subscription from October 6 to October 8, 2025. The shares were offered at a price band of Rs 310- Rs 326 per share. The stock listed at Rs 330, delivering a modest gain of 1.23% over the issue price of Rs 326. However, the gains proved short-lived, and the stock has slipped about 1.5% from its listing price.