Virgin Australia shares surged 11.4% in its trading debut on Tuesday, lifting its market capitalisation to A$2.58 billion ($1.7 billion), with dealmakers hopeful it will revive Australia's subdued listings market.

Get the essential facts on the Virgin Australia IPO – offer size, valuation versus Qantas, and the top risks. Learn whether the shares deserve a place in your portfolio.

As over $1bn worth of initial public offerings launch in the Australian market on Tuesday, market watchers are betting that commodity prices could add a slight dampening effect on the deals at the margins.