Hyundai, Swiggy, NTPC Green Energy Among Companies in ₹60,000 Crore IPO Rush - Everything You Need To Know

In the upcoming months, the Indian IPO market is set to see a big surge, with several companies, including Hyundai Motor India, Swiggy, and NTPC Green Energy, planning to raise around ₹60,000 crore through their Initial Public Offerings (IPOs). According to merchant bankers, these IPOs are scheduled for October-November 2024.

Along with these companies, others like Afcons Infrastructure, Waaree Energies, Niva Bupa Health Insurance, One Mobikwik Systems, and Garuda Construction are also gearing up to launch their IPOs, contributing to the total fundraise.

Hyundai Motor India Ltd, a subsidiary of South Korea's Hyundai Motor Company, aims to raise ₹25,000 crore in what could become the largest IPO in India's history, surpassing LIC's ₹21,000 crore IPO.

Swiggy, the food and grocery delivery giant, plans to raise ₹10,414 crore through a combination of a fresh issue worth ₹3,750 crore and an Offer For Sale (OFS) worth ₹6,664 crore. Meanwhile, NTPC Green Energy, a renewable energy firm, is targeting a ₹10,000 crore IPO launch in the first week of November.

Other significant IPOs include Afcons Infrastructure with a ₹7,000 crore offer and Waaree Energies, which is expected to raise ₹3,000 crore through a fresh issue and OFS.

Niva Bupa Health Insurance and One Mobikwik Systems are also planning to raise ₹3,000 crore and ₹700 crore, respectively.

According to industry experts, the strong momentum in the IPO market is driven by positive macroeconomic conditions and rising investor interest. Over 30 IPOs are expected to be launched by the end of 2024, reflecting a significant boost in capital formation across corporate India.

Looking ahead, more companies are planning IPOs in 2025, with Sebi approving 22 IPOs so far, aiming to raise ₹25,000 crore. Over 50 more companies have filed draft papers, further fueling the IPO frenzy. However, market corrections or regulatory changes may slow down this growth.