India to see Record-Breaking year with 2024’s IPO Fundraising

India IPO

Updated Sep 26, 2024

With mega IPOs upcoming launch from major players like Swiggy and Hyundai, 2024 is going to be India’s record-breaking IPO year. It will bring exciting opportunities for investors.

India to see Record-Breaking year with 2024’s IPO Fundraising

With Diwali right around the corner, the Indian IPO market sees unprecedented activity. With the upcoming IPO flurry, including those coming from Swiggy, Hyundai Motor India, and some other major players, fundraising is expected to reach new heights. As per the market experts, 2024’s total raised amount via IPOs can surpass ₹1.2 trillion. Since 2007, this has been one of the most successful IPO years. NTPC’s wholly-owned subsidiary, NTPC Green Energy, is leading the charge. The company has recently filed the DRHP with SEBI for approval for the IPO launch.

It marks one significant shift within the trend of Indian companies seeking the overseas listing to get better valuations. The market’s buoyant sentiment could be attributed to the robust demand from retail investors and institutional investors. With upcoming IPOs' stronger pipeline, especially within the renewable energy sector, the coming months are highly expected to be quite exciting for investors.

Swiggy and Hyundai Motor India are the 2 prominent names within their respective industries. They have received the regulatory approval for the IPO launch. The bankers, too, are actively engaging with the potential investors to finalize the valuations and determine the offering size. The performance of the IPO market is bolstered by the healthy inflows from the foreign and domestic institutional investors and the retail participants. In particular, the mutual funds are currently sitting on the large amount of cash that is to be deployed.

Apart from the aforementioned, Afcons Infrastructure of Shapoorji Pallonji Group will potentially raise ₹6,500 crore, while solar panel manufacturer Waaree Energies is expected to raise 7,500 crore.

On an overall basis, India's IPO market is poised to see a record-breaking year. It is driven by the combination of promising IPO pipelines, stronger investor demand, and some favorable market conditions. With the year progressing, it would be quite interesting to see how the trends continue to unfold and then impact the Indian capital markets.