India IPO share sales rise to record in 2024, growing about 3-fold from last year on upbeat investor appetite
Live MintInvestors purchased a record ₹1,34,345 crore of shares in initial public offerings so far in 2024, as 76 companies including Hyundai Motor India, Swiggy, NTPC Green and Bajaj Housing Finance listed on the stock exchanges, giving venture capital and private equity firms profitable exits. Sai Life Sciences’ investors such as TPG Asia and HBM Private Equity India are expected to make gains in the range of 4x-13x in the ₹3,000 crore IPO when it closes on 13 December. According to S Ramesh, managing director and CEO of Kotak Investment Banking, the average size has roughly moved to ₹2,000 crore from about ₹900 crore with the advent of large IPOs of companies such as Bajaj Housing Finance, Hyundai Motor India, FirstCry, and Swiggy. In comparison, 11 companies includingDoms Industries, India Shelter Financing Corp andInox India cumulatively raised about ₹8,339 crore last December, the data showed.