Year Ender 2024: From Swiggy To Mobikwik, A Look At The Major IPOs Of 2024

The average issue size crossed Rs 1,700 crore in the year, as compared to Rs 867 crore seen in 2023. December itself saw at least 15 maiden issues launch in the primary market

Hyundai Motor India saw a historic IPO this year which was also the largest seen in the country. The company raised Rs 27,870 crore from investors.

Source : Fisdom

2024 was a successful year for the IPO industry in the country. The companies managed to raise a record Rs 1.6 lakh crore in the year via initial public offerings (IPOs). 

The average issue size crossed Rs 1,700 crore in the year, as compared to Rs 867 crore seen in 2023. December itself saw at least 15 maiden issues launch in the primary market, reported PTI. Looking back on what fuelled this IPO frenzy, V Prashant Rao, Director and Head - ECM, Investment Banking, Anand Rathi Advisors, noted, “Rising retail participation, strong domestic inflows and active participation by FPIs (even though they have been net sellers in the secondary market), private capex increase and the government's strategic focus on infrastructure and key sectors have collectively laid a strong foundation for the fundraising momentum in India.”

Before we bid a goodbye to 2024, let’s take a look at some of the iconic maiden listings that rocked the primary market this year.

Hyundai Motor India

Hyundai Motor India saw a historic IPO this year which was also the largest seen in the country. The company raised Rs 27,870 crore from investors. However, despite the anticipation of the issue, the IPO made a weak debut in the stock market at a 1.32 per cent discount.

Swiggy

Food delivery and quick commerce firm Swiggy also opened its maiden offer for the public worth Rs 11,327 crore. The firm’s shares listed on the stock market at a 7.69 per cent premium.

NTPC Green Energy 

NTPC Green Energy marked the third-largest IPO of 2024. The company’s issue was worth Rs 10,000 crore and made a modest debut of 3 per cent premium on the exchanges.

Bajaj Housing Finance

Bajaj Housing Finance opened its initial public offering worth Rs 6,560 crore for the public in the year. The maiden listing made a bumper debut at 135 per cent premium on the stock market.

Mobikwik

Mobikwik recently entered the primary market with a maiden offer worth Rs 572 crore. The company’s listing made a solid debut in the stock market, listing at a premium of 58 per cent against its issue price.

Vibhor Steel Tubes

The company opened its IPO worth Rs 72.17 crore which made a stellar debut on the exchanged and listed at a whopping 181 per cent premium against the issue price.

BLS E-Services

The IPO of the firm worth Rs 310.91 crore opened for the public this year. The company saw a strong listing at 177 per cent premium over the offer price and provided solid returns to the investors.