The calendar year 2024 is set to go down as the best year for initial public offerings (IPOs) in terms of funds raised. Following the IPOs of food delivery major Swiggy and those of two other companies slated for next week, this year's total will reach about ₹1.2 trillion, going past 2021's record tally of ₹1.19 trillion.
Swiggy's ₹11,327 crore IPO, the sixth-largest in India, and solar energy firm Acme Solar Holdings' ₹2,900 crore IPO open on Wednesday, while health-tech firm Sagility India's ₹2,106 crore IPO opens a day earlier.
The record fundraising this year has been underpinned by Hyundai Motor India's ₹27,870 crore IPO, which concluded recently. This offering, entirely a secondary share sale by parent Hyundai Motor Corp, was India's largest ever IPO.
Besides Hyundai and Swiggy, other marquee deals this year include a ₹6,560 crore IPO by mortgage lender Bajaj Housing Finance and a ₹6,145 crore issue by electric two-wheeler major Ola Electric Mobility.
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