Fund-raising via IPOs hits new peak in 2024 so far; mainboard issues surpass ₹1 lakh crore mark

The calendar year 2024 is likely to hit a new record in terms of funds raised by companies through mainboard initial public offerings (IPOs).

As many as 68 mainboard IPOs have been launched in 2024 so far (till October 21), with their combined issue size being more than ₹1.17 lakh crore.

This is still lower than ₹1.19 lakh crore raised through IPOs in 2021, which was the first time the primary market fund-raising had hit the ₹1 lakh crore mark.

However, with two more months to go in the year 2024, fund-raising through IPOs is likely to hit a new peak.

Funds raised via mainboard IPOs since 2007

Upcoming big-ticket mainboard issues

As per Swiggy’s updated draft red herring prospectus, its IPO has a fresh issue component of ₹3,750 crore and an offer for sale (OFS) of up to 182,286,265 equity shares.

Experts say that the IPO market has been robust this year due to multiple factors, such as increased participation of retail investors, higher liquidity in the financial system, and positive sentiment in the primary market after the huge success of IPOs like Jyoti CNC Automation and Vibhor Steel Tubes in the early months of 2024.