Jio IPO Expected to Surpass $6 Billion...
05 Nov 2024
Leading this year’s pack was Hyundai Motors' historic entry into the Indian market, marking the largest-ever IPO at ₹27,000 crore. Bajaj Housing Finance's offering also drew massive investor interest, attracting bids totaling ₹3.2 trillion for its ₹6,560 crore issue, and setting new records with nearly 9 million applications—surpassing the previous record held by Tata Technologies.
The year also saw several high-profile companies go public, including Bharti Hexacom, Indian Renewable Energy Development Agency (IREDA), Firstcry (Brainbees Solutions), Ola Electric, Aadhar Housing Finance, and Premier Energies. Vodafone Idea also raised capital through an ₹18,000 crore follow-on public offer (FPO).
With Samvat 2081 approaching, analysts remain bullish on IPO activity as companies line up to leverage the favorable market. Anticipated IPOs include Vishal Mega Mart, NTPC Green Energy, NSE, NSDL, and Swiggy.
In preparation, 28 firms have secured SEBI approval to raise around ₹49,889 crore, while another 63 await regulatory clearance to raise an estimated ₹90,608 crore, according to PRIME Database.
Analysts attribute this robust IPO performance to a buoyant secondary market, robust liquidity, regulatory advancements, and greater market transparency. These factors have fueled strong investor demand and heightened market activity.
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