5 out of 6 mega IPOs have destroyed wealth. What’s in store for Hyundai IPO investors?
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Beating LIC's mammoth IPO worth Rs 20,557 crore in May 2022, Korean car manufacturer Hyundai Motor India's IPO of Rs 27,856 crore will rewrite record books as India's largest public issue ever. But large sizes and returns don't go hand in hand most of the time. Out of the 6 mega IPOs worth at least Rs 10,000 crore seen on Dalal Street so far, 5 of them gave negative returns on listing. Not just that, IPO investors who have held on to the stock in hopes of a turnaround are still sitting on losses, according to data from Prime Database. LIC IPO in May 2022, which was subscribed 2 times, resulted in a 8% loss on listing day. Paytm's Rs 18,300 crore IPO, which was also the biggest issue that time, lost over 27% of its value on listing day. Even now, Paytm IPO investors are sitting at massive losses. General Insurance Corporation's Rs 11,257 crore IPO resulted in 4.5% loss on listing in October 2017. IPO investors are ...