Startups Mobilise Rs 29,200 Cr Via IPOs

New Delhi: In a significant year for the Indian startup ecosystem, 13 new-age companies launched their initial public offerings (IPOs), as startups cumulatively raised more than Rs29,200 crore from the stock market.

When it comes to IPOs, the figure stood at 10 in 2021, six in 2022 and six in 2023. This year, 13 startups cumulatively raised Rs29,247 crore from the cash market. Out of this, the fresh issue was nearly Rs14,672 crore and Rs14,574 crore Offer for Sale (OFS).

In an IPO, the money raised under the fresh issue goes directly to the company. At the same time, the money raised under OFS goes directly to the investors and promoters of the company.Among 13 startup IPOs, 10 were mainboard and 3 were SME IPOs.

The startup IPOs include TAC Security, Unicommerce, MobiKwik, TBO Tek, Ixigo, Trust Fintech, FirstCry, Menhood, Awfis, Swiggy, Digit Insurance, Blackbuck and Ola Electric.

The largest IPO among startup companies was offered by online food delivery platform Swiggy at Rs11,327.43 crore. Swiggy’s shares were listed in the stock market at a price of Rs420 with a premium of 7.69 per cent.

Following, EV company Ola Electric was in second place with an IPO of Rs6,145.56 crore, FirstCry at third place with an IPO of Rs4,193.73 crore, Digit Insurance at fourth place with an IPO of Rs2,614.65 crore and TBO Tech at fifth place with an IPO of Rs1,550.81 crore.

Among all the mainboard startup IPOs, Unicommerce got the highest subscription of 168.39 times, MobiKwik 119.38 times, Awfis 108.56 times, Ixigo 98.34 times and TBO Tek, 86.7 times.