AFTER A RELATIVELY muted 2023, the primary market has seen a turnaround in 2024, hitting new records in terms of fundraising. Data available till November 30 shows that ₹1.34 lakh crore has been raised in 2024 through initial public offerings (IPOs), beating the previous record of ₹1.18 lakh crore raised in the whole of 2021.
It is a year that has seen the return of big issues. In October, Hyundai Motor India raised ₹27,870 crore in its IPO, which is the biggest ever in the country. That was followed in November by Swiggy, which raised ₹11,327.43 crore from its IPO. Indeed, that IPO raised almost as much as the ₹12,362 crore raised in the whole of 2019, a year before the Covid pandemic.
Thanks to the stellar showing this year, India’s primary market is now the largest globally by volume and second largest by value, making new listings particularly noteworthy as per the DSP MF Netra report of November 2024.
This good showing is also reflected in the BT500 list this year. There has been an increase in newly-listed firms that have made the cut: from 10 in last year’s list to 16 this time around, though this was slightly lower than the 19 new entrants in the BT500 list two years ago.
There are many factors that have aided this IPO boom. Primary among them is the fact that India is the world’s fifth-largest economy, it is growing at a healthy rate with rich valuations and with inflation in check, and this has boosted Indian investors’ confidence.
During Citibank’s media roundtable in October 2024, Rahul Saraf, Head of Investment Banking, Citi India, said investors have been enthused by the consistent returns of more than 12% that they’ve seen since 2019, barring 2022, when tech stocks saw a decline. This may be tempered now with the correction in the market. Other contributing factors include India’s inclusion in the global bond indices.
この記事は Business Today India の December 22, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Business Today India の December 22, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
"Attitude Decides Altitude"
BEST ADVICE - RAJNEET KOHLI, CEO & EXECUTIVE DIRECTOR, BRITANNIA INDUSTRIES LTD
"FOR RATAN TATA, IT WAS ALWAYS NATION FIRST"
Thomas Matthew, former IAS officer, on his new biography of Ratan Tata, the late Chairman Emeritus of Tata Sons
"RADICAL CHANGE NEEDED TO IMPROVE URBAN INFRA"
K.P. Singh, Chairman Emeritus of DLF, on the dynamic nature of the real estate sector, challenges in urban planning, and more
REDEFINING AMBITION
Shashikant Ruia was a visionary entrepreneur who navigated challenges with resilience. He leaves behind a rich legacy of ambition and leadership
ON THE WILD SIDE
LOVE WILDLIFE BUT DON'T WANT TO GIVE UP ON THE FINER THINGS WHILE ON A TRIP TO SPOT ANIMALS? CHECK OUT THESE LUXURIOUS WILDLIFE RESORTS FOR THE HOLIDAY SEASON
"India is the only market globally with substantial growth"
RHI Magnesita CEO Stefan Borgas on the company's M&A strategy, why India is important, the way ahead, and more
FRESH ON THE STREET
IPOs have come back with a bang in 2024, with a record ₹1.3 lakh crore raised till October. As a result, many newly-listed firms have made it to the BT500 list
RIDING THE WAVES
The shipping industry is on the brink of a transformation. Beyond government support and technological advancements, what are the other driving forces and emerging trends that will define the landscape in 2025?
HOME RUN
After a decade-long slowdown, India’s real estate market reached its highest decadal sales level in the first half of 2024
In Pursuit of Good Health
The past year has been eventful for the Indian pharma sector, with some companies witnessing growth, and some challenges. The outlook for the sector, however, remains positive
