2024 has been a stellar year for India primary market, with initial public offerings (IPOs) breaking records and setting new benchmarks. According to a report by Motilal Oswal, a staggering ₹1.8 trillion has been raised through more than 317 IPOs this year, surpassing the previous high of ₹1.3 trillion recorded in 2021. This year IPO activity is significantly higher than last year ₹576 billion, making 2024 a truly blockbuster year for the Indian equity market.
The report credits this surge to the evolving dynamics of the Indian capital market, supported by robust capital inflows. With an equity issuance increase of around 2.6 times compared to the previous year, the IPO market has diversified beyond traditional sectors, offering investors a wider range of opportunities to tap into India growth story.
In addition to the record fundraising, the report also highlighted the growing sectoral diversity in IPOs. While earlier IPO activity was mainly concentrated in a few growing industries, 2024 has seen an unexpected rise in IPOs from a variety of sectors, reflecting the broader and more inclusive expansion of the Indian economy.
The Nifty 50 index also played its part, reaching a 12% year-to-date increase by September 2024, although it slightly lagged behind last year 20% rise. Despite this, the strong market performance and high investor confidence have created a favorable environment for future growth.
Motilal Oswal’s report underscores the impressive momentum in the Indian IPO market, which continues to attract investors with a diversified portfolio of opportunities. As 2024 draws to a close, the Indian primary market shows no signs of slowing down, paving the way for further growth and success.
