Size offers little comfort
The five largest offerings before Jio delivered a median debut-day return of negative 7.1%. Hyundai Motor India, which was listed in 2024, declined 7.1%, Life Insurance Corporation of India (2022) lost 7.8%, and Paytm parent One 97 Communications (2021) fell 27.2%. The only positives were Tata Capital (2025) and NSE Ltd (2026), which managed to deliver modest gains of 1.3% and 1.8%, respectively.
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