28 March 2024 – In the financial year 2023–24, 76 Indian corporates raised a total of ₹61,915 crore via main board public issues or initial public offerings (IPOs). This figure was 19% more than the ₹52,116 crore raised by 37 IPOs in the previous year. Humankind Pharma (₹4,326 crore) was the highest initial public offering (IPO) in FY24. It was followed by Tata Technologies (₹3,043 crore) and JSW Infrastructure (₹2,800 crore). Conversely, Vibhor Steel raised ₹72 crores in their IPO, while Plaza Wires raised the least amount at ₹71 crores. Comparing ₹1,409 crore in 2022–2023 and ₹2,105 crore in 2021–2022 to ₹815 crore, the average transaction size decreased dramatically.
Interestingly, the total amount of funds raised in FY24 would have climbed by 58% over the previous fiscal year if the massive initial public offering (IPO) of LIC, which occurred in 2022–2023—is taken out of the equation, according to data from primedatabase.com, a key capital market database.
While companies from a variety of sectors participated in the IPO market in 2023–24, BFSI was one important sector with a limited presence. Of the ₹9,655 crore (or 18%) raised by companies in this sector, compared to 51% in 2022-23. This information is according to Pranav Haldea, Managing Director, PRIME Database Group.
Conclusion
Meanwhile, the public’s reaction was overwhelmingly positive. Of the 75 initial public offerings (IPOs) for which response data is available, 54 (including 22 IPOs that got mega responses more than 50 times) saw a mega response.