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MUMBAI: India, which has emerged as the second-largest IPO
market
on the world league table, has raised $4 billion so far this year. With NDA returning to form the next govt, hopes of
policy continuity
should extend the IPO boom throughout the rest of 2024.
The $4 billion raised by India is about 45% less than what it collected in all of 2023, LSEG data shows, but outperforms China ($3 billion) and Saudi Arabia ($2.1 billion).
The number is also higher than the combined amount raised in Turkey, Hong Kong and South Korea. The US is the largest IPO market, having raised $14 billion so far in 2024, according to LSEG. From number 11 in 2019, India secured the third place globally in terms of IPO proceeds after the US and China in 2023.
India has hosted 113
IPOs
between Jan this year and now. “Amidst general elections, the primary market remained vibrant with the solid response to certain IPOs like Awfis Space Solutions. Confidence can be gauged by these offerings that have been launched amidst elections… Looking ahead, the market is set to witness a flurry of IPOs, from new-age business as well as from conventional business segments,” said Mahavir Lunawat, MD at investment bank Pantomath Capital Advisors.
Several companies such as Hyundai Motor India, Tata Capital, Ola Electric Mobility, and Swiggy, and NSDLare looking at launching their IPOs.
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