Theranautilus Secures $1.2 Mn in Seed...
19 Nov 2024
So far in 2024, 57 IPOs have been completed, matching the total number of IPOs in 2023. However, these 57 IPOs have collectively raised significantly more funds in the first eight and a half months of 2024 than in all of 2023. According to Prime Database, the IPOs in 2024 have garnered over ₹62,000 crore from the primary market, compared to ₹49,400 crore raised by the same number of IPOs in the previous year, excluding the ₹18,000 crore Vodafone Idea Follow-On Public Offer (FPO).
August 2024 emerged as the most successful month for IPOs in terms of funds raised, with 10 IPOs collectively bringing in over ₹17,000 crore. Meanwhile, in September 2024, seven IPOs have raised a total of ₹9,205 crore so far. This count includes IPOs that have finished their subscription phase but are yet to be listed.
In terms of performance, five IPOs listed in 2024 have provided returns exceeding 100% from their issue price, while 15 have yielded returns between 50% and 90%. On the flip side, only seven IPOs are currently trading below their issue price. Unlike in 2021 and 2022, which saw massive IPOs like Paytm (₹18,000 crore) and LIC (₹21,008 crore), 2024 has not featured any such giant-sized IPOs.
The IPO of Bajaj Housing Finance, which closed earlier this week, received the highest bids in terms of value, not subscription volume, with bids worth over ₹3 lakh crore and an overall subscription rate of 67 times. It is the largest IPO of the year so far, followed by Ola Electric and Bharti Hexacom.
Out of the 57 IPOs this year, 45 have delivered positive returns to investors. Among the top performers is Jyoti CNC, with its stock price more than tripling since its IPO. Recent listings like Unicommerce and Premier Energies have also shown strong gains shortly after their debuts. On the other hand, some IPOs, such as those of Capital Small Finance Bank and Popular Vehicle, have seen negative returns, but none have declined by 50% or more from their listing price.
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