Robust IPO Pipeline in 2024 with 27 Companies Approved to Raise Rs 28,500 Crore

The IPO landscape for 2024 remains robust, with the Securities and Exchange Board of India (SEBI) granting approval to 27 companies to collectively raise Rs 28,500 crore. Additionally, another 36 companies are awaiting approval to raise a substantial sum of Rs 40,500 crore, indicating a vibrant market for initial public offerings.

Pranav Haldea, Managing Director of Prime Database Group, anticipates a flurry of IPO launches in the coming months before a temporary pause due to the upcoming general elections.

Among the 63 companies in the IPO pipeline, three belong to the new-age technology category—OYO, Digit Insurance, and First Cry. These companies are collectively seeking to raise approximately Rs 16,000 crore, according to data from Prime Database.

In the preceding year, 2023, a total of 57 firms successfully raised Rs 49,434 crore through mainboard IPOs, representing a 17% decline from the Rs 59,302 crore raised by 40 IPOs in 2022. However, excluding the mega LIC IPO in 2022, IPO mobilization witnessed a significant 28% increase in 2023.

The largest IPO of 2023 was Mankind Pharma, raising Rs 4,326 crore, followed by Tata Technologies (Rs 3,043 crore) and JSW Infrastructure (Rs 2,800 crore). Conversely, the smallest IPOs were Udayshivakumar Infra (Rs 66 crore) and Plaza Wires (Rs 71 crore). The average deal size for the year decreased notably to Rs 867 crore from Rs 1,483 crore in 2022 and Rs 1,884 crore in 2021.