Indian Firms Break Records with Robust Equity Market Fundraising in 2024

The year 2024 has been historic for the Indian stock market. Corporates raised bumper funds from investors through initial public offerings (IPOs), follow-on public offers (FPOs), qualified institutional placements (QIPs) and rights issues, and set several new records. In 2024, domestic companies raised Rs 1.64 lakh crore through 90 IPOs.

During this period, shares worth Rs 1.39 lakh crore were sold to institutional investors. This is the highest figure ever for raising capital through public issues.

In the year 2021, the companies raised the highest amount of Rs 1.18 lakh crore through IPOs. During this period, shares worth Rs 41,997 crore were sold by the companies to institutional investors.

So far this year, 20 companies have raised about Rs 18,000 crore through rights issues. Last year this figure was Rs 7,266 crore, and in 2022, it was Rs 3,884 crore.
Due to the boom in the IPO market, in December 2024, about 15 companies are going to raise Rs 25,500 crore through public issues.

Hyundai Motor (KS:005380) India launched the biggest-ever IPO of the Indian stock market. Its issue size was Rs 27,870 crore.

Earlier, LIC's (NS:LIFI) public issue of Rs 21,008 crore in the year 2022 was the highest IPO till now in India. In 2024, Vibhor Steel Tube garnered the highest subscription of an IPO of 320 times. Apart from this, there are some IPOs such as KRN Heat Exchanger & Refrigeration, Manba Finance and Gala Precision Engineering that bagged more than 200 times subscriptions.

Indian firms have so far this year raised Rs 1.4 lakh crore through QIPs, the highest ever figure since 2020.

This year, Vedanta (NS:VDAN) and Zomato (NS:ZOMT) have each raised Rs 8,500 crore through QIP. Apart from this, Adani Energy Solutions and Varun Beverage raised Rs 8,373 crore and Rs 7,500 crore, respectively. According to data from the National Securities Depository Ltd (NSDL), foreign investors invested around $14 billion in the primary markets this year, which is more than the previous record of 2021.