Record-Breaking IPOs: Over ₹1.22 Lakh Crore Raised So Far

The trend of Initial Public Offerings (IPOs) is on a historic rise in India's domestic market this year, as numerous companies have entered the stock exchanges to raise substantial funds. As the year draws to a close, IPO activity on Dalal Street has already set new records, with even more companies lining up to go public.

So far in 2024, IPOs have collectively raised an impressive ₹1.22 lakh crore, surpassing the previous record of ₹1.18 lakh crore set in 2021. August alone saw companies raise ₹17,109 crore, followed by ₹11,058 crore in September. October reached new heights with a record ₹38,700 crore raised in a single month. The IPO wave is set to continue in November with major listings from companies like Swiggy, Sagality India, ACME Solar Holdings, and Niva Bupa Health Insurance, which together aim to raise a total of ₹19,334 crore.

However, not all IPOs this year have met investor expectations. Hyundai Motor’s much-anticipated IPO, the largest in India’s history, listed at a discount and is currently trading below its issue price. Garuda Construction and Engineering initially provided a 12 percent profit but has since dipped below the offering price. Deepak Builders and Engineers India is also trading around 20 percent below its issue price, while Vari Energies has been a bright spot, bringing significant returns to its investors.

Experts suggest that market sentiment has been affected by foreign institutional investors gradually pulling out funds, a trend that may influence the performance of upcoming IPOs as well. Nonetheless, investor interest in the IPO market remains strong, with hopes for continued growth as new listings enter the market.