New Delhi: Initial public offering (IPO) fundraising in India is set for another landmark year this 2024, asserted S&P Global Market Intelligence in a report.
The financial information and analytics firm said in its analysis earlier this week that economic growth, favorable market conditions and improvements in the regulatory framework helped companies raise record amounts in 2024.
As of December 3, around 298 companies have gone public on the exchanges – NSE and BSE. Notably, Hyundai Motor India’s Rs 278.59 billion public issue, which was completed in October, is the country’s largest IPO ever.
According to data compiled by S&P Global Market Intelligence, listed companies have raised a total of Rs 1.4 trillion.
According to data from S&P Global Market Intelligence, the number of IPOs this year increased by more than 22 percent from 243 in 2023, while fundraising volume increased by nearly 140 percent to 588.27 billion rupees.
The NSE’s benchmark index, the NIFTY 50, touched an all-time high of 26,216 points on September 27, while the BSE Sensex touched a high of 85,836 points on September 26.
The report said the stock market’s gains were due to India’s strong economic growth prospects. Sensex and Nifty have gained around 13-14% so far this year, with three more weeks to go.
Separately, as of November 29, 85 companies were in various stages of the NSE and BSE listing process, of which 40 had already received approval to launch their offerings, compiled by S&P Global Market Intelligence. The data showed. These include 21 companies whose IPOs were pending in the stock exchange.
Seizing the opportunity in India’s booming stock market, many companies set out to list their shares, and a large number of them have made spectacular gains.
An initial public offering (IPO) refers to the process where companies sell their shares to the public to raise equity capital from investors.