India's Top-10 Most-Subscribed IPOs: What Drives Investor Frenzy?

• Recent IPOs like Fractal Analytics and Aye Finance saw muted demand, contrasting sharply with past investor frenzies.
• LG Electronics India (2025) holds the record for highest absolute bid value at Rs 4.4 lakh crore, driven by brand trust.
• NACDAC Infra (SME, 2024) was oversubscribed an astonishing 2,209 times, showcasing retail-driven 'lottery market' in SME segment.
• Tata Technologies (2023) capitalized on brand scarcity, while Zomato (2021) pioneered new-age tech listings.
• Sectoral trends (data, renewables) and even 'old economy' PSUs like Bharat Coking Coal have seen massive subscriptions, but hype doesn't always equal returns.