India's equity fundraising hits nearly Rs 4 lakh cr in 2024, driven by 3x jump in IPO proceeds
equity fundraising touched a record Rs 3.99 lakh crore in 2024, mainly driven by deluge of initial share sales (IPOs) as investor appetite remained robust throughout the year. Excluding the rights issues, the fundraising from equity was at Rs 3.73 crore, which is a massive 159% increase over the previous year period.
According to primedatabase.com, 91 Indian companies raised Rs 1.59 lakh crore through the IPOs, which listed on both the exchanges. This is more than 3 times the amount mobilised by the companies in 2023. The year also saw the biggest IPO from Hyundai, which raised Rs 27,859 crore.
New age technology companies (NATCs) made a comeback after 2 quiet years with 8 IPOs (Awfis, Blackbuck, Digit Insurance, Firstcry, Ixigo, Mobikwik, Swiggy and Unicommerce) raising Rs 21,438 crore.
The overall response from the public was excellent as 35 out of the 91 IPOs received subscription of over 50 times and 66 of them garnered a response of more than 10 times.
The interest levels of retail investors for IPOs also went through the roof as the average number of applications from retail rose to 18.87 lakh in 2024, in comparison to 13.21 lakh previous year. The highest number of applications from retail were received by Waaree Energies at 70.13 lakh.
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