India set a remarkable milestone in 2024, raising a record ₹1.6 trillion through IPOs. This historic achievement was driven by favourable market conditions, investor confidence, and economic growth. Companies of all sizes leveraged the IPO route, reflecting a robust capital market environment.
Record ₹1.6 trn raised in 2024 highlights IPO momentum
The ₹1.6 trillion raised in 2024 far exceeded the ₹49,436 crore garnered in 2023. This includes ₹8,700 crore raised by 238 SMEs, almost doubling the ₹4,686 crore raised by this segment in 2023. The resurgence in IPO activity signals an expanding appetite for equity investments, both from retail and institutional players.
The year also saw Hyundai Motor India’s record-breaking IPO, which raised ₹27,870 crore, marking the largest in Indian history. Other major contributors included Swiggy (₹11,327 crore), NTPC Green Energy (₹10,000 crore), and Bajaj Housing Finance (₹6,560 crore).
Factors behind record ₹1.6 trn raised in 2024
Several factors contributed to this unprecedented fundraising:
- Economic Stability: A stable macroeconomic environment encouraged companies to go public.
- Policy Continuity: Central government policies provided consistent support for market activities.
- Investor Confidence: High subscription ratios for IPOs reflected strong demand from investors.
- Private Equity Exits: Increased sponsor-driven sales and private equity exits drove higher IPO volumes.
SMEs play a role in record ₹1.6 trn raised in 2024
The SME sector made significant contributions, reflecting growing investor interest in smaller enterprises. However, heightened risks associated with this segment prompted SEBI to implement stricter regulations, such as profitability requirements and caps on offer-for-sale components.
Looking ahead: 2025 IPO pipeline
The momentum from 2024 is set to continue into 2025, with market analysts predicting ₹2.5 trillion in IPO activity. Key offerings in the pipeline include HDB Financial Services’ ₹12,500 crore IPO, LG Electronics India’s ₹15,000 crore public float, and Hexaware Technologies’ ₹9,950 crore offering.
Record ₹1.6 trn raised in 2024 reflects investor confidence
India’s equity markets also reached new highs, with the NSE Nifty 50 peaking at 26,216 points and the BSE Sensex climbing to 85,836 points. This remarkable fundraising year underscores the strength of India’s capital markets, driven by strategic investments, expanding retail participation, and a vibrant economic environment.
As companies shift toward equity-based funding, the record ₹1.6 trillion raised in 2024 cements India’s position as a growing financial powerhouse.
