India Breaks IPO Record, Becomes World's 2nd Largest IPO Market After US - Read Now

India's IPO market has scaled history-high figures in 2024 by raising over 1.19 lakh crore INR equivalent to 14 billion dollars, thus breaking any record seen in the past. As a result, India emerges as the second largest IPO market in the world, next only to that of the United States of America.

The India IPO Market: The Growth Story
The Indian IPO market has performed fantastic in the year. With the gross amount money raised by companies standing at 1.19 lakh crore INR, it is higher than the record set in 2021, which is 1.18 lakh crore INR. Significant IPOs such as Swiggy IPO and ACME Solar IPO attracted huge interest in the primary market of India.

However, the US IPO market of 2024 stood as high as 26.3 billion dollars, ranking it at the top in the world. India way ahead of China and China amounts to 10.7 billion dollars. Surprisingly, the future of Germany and Japan is nowhere close to that ranking; thus, it depicts that India has widely spread its dominance over the global IPO market within a matter of a few years.

Major IPOs and Market Performance
Swiggy, ACME Solar, and Hyundai are some of the companies that have led the way for India's growth in IPOs. For instance, the issue of Swiggy alone has raised 11,300 crore INR, reflecting such huge investor confidence. The issue of Swiggy has been oversubscribed 3.59 times, and that of ACME Solar 2.74 times.

The factors driving India's IPO market include high valuations in the secondary market, along with ample liquidity with institutional investors. Even during market volatility, the large IPOs like Swiggy IPO and Hyundai IPO gathered anchor quality investors, signifying robust demand for IPOs in India.

THE Rise in Retail and HNI Participation
In 2024, participation of retail investors and High Net-Worth Individuals (HNIs) in the IPO market has also witnessed an upward trend. Today, the total number of Demat accounts in India stand at 179 million. As many as 35 million accounts have been added this year till October, and the rise has significantly contributed to the overall success of the Indian IPO market.

Highest Ever IPOs in India
The biggest IPOs this year are Hyundai Motors, which raised 27,870 crore INR, and Swiggy IPO, after carrying forward the good performance of Indian companies in the primary market. Such an addition to India's growing IPO market is through Bajaj Housing Finance IPO and Ola Electric IPO.
IPO Market for India during the coming period
The future of the IPO market in India, therefore, seems bright. In fact, a few more IPOs are in the line for 2024, including Shapoorji Pallonji, among others, and experts believe that the primary market would continue to do well thus further cementing India's status as one of the great IPO platforms of the world. Several of the recent IPOs have, by and large, delivered positive returns, which has added to investor appetite in the IPO space.

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