India primary market has witnessed a historic year in 2024, with initial public offerings (IPOs) raising a record ₹1.8 trillion, according to a report by Motilal Oswal. This unprecedented surge in capital fundraising has seen over 317 IPOs to date, significantly surpassing the previous high of ₹1.3 trillion set in 2021 and more than doubling last year’s total of ₹576 billion.
The report highlights that 2024 has been a blockbuster year for the Indian IPO market, showcasing remarkable growth and investor enthusiasm. The total amount raised in IPOs this year has more than doubled compared to the previous year, reflecting a dynamic shift in the Indian equity market, driven by robust fund inflows and growing investor confidence.
Equity issuances across various categories saw a staggering 2.6 times growth compared to last year, marking a transformative period for the Indian capital markets. The diversity in IPO offerings was a key theme of this year market, with companies from various sectors making their debut, breaking away from the past trend of concentrated activity in a few emerging industries. This diversification is seen as a positive development for the market, offering a broader array of investment opportunities for participants.
The performance of the Nifty 50 index further mirrors the optimism in the market, crossing the 26,000 mark in September 2024, and registering a year-to-date rise of approximately 12%. While this is lower than the 20% rise recorded in 2023, it still signals strong growth and resilience.
The report credits the diverse and evolving nature of the IPO landscape for the sustained growth of the Indian primary market. As the year draws to a close, the record-breaking fundraising and sectoral diversification stand as a testament to the increasing maturity and strength of India capital markets, reinforcing investor confidence in the country economic prospects.
