Indian Companies Secure Over Rs 3 Lakh Crore from Stock Market in 2024
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New Delhi, Dec 17 (NationPress) The year 2024 has marked a significant milestone for the Indian stock market as businesses have accumulated an unprecedented capital exceeding Rs 3 lakh crore thus far this year via Initial Public Offerings (IPOs), Qualified Institutional Placements (QIPs), and Rights Issues, surpassing the former record of Rs 1.88 lakh crore set in 2021.
As per reports, 90 firms have raised or declared fundraising amounting to Rs 1.62 lakh crore up to this point in 2024, which is 2.2 times greater than last year's Rs 49,436 crore.
The capital gathered through new issues in 2024 is approximately Rs 70,000 crore, in contrast to Rs 43,300 crore in 2021.
To date in 2024, 88 firms have secured Rs 1.3 lakh crore through QIPs. Previously, the highest amount of Rs 80,816 crore was acquired through QIPs by 25 companies in 2020.
Furthermore, 20 companies have raised about Rs 18,000 crore through rights issues so far. Last year, this number was Rs 7,266 crore, and in 2022 it was Rs 3,884 crore.
This figure is anticipated to grow in the final two weeks of 2024, as IPOs from firms like DAM Capital Advisors, Ventive Hospitality, Carraro India, Senores Pharmaceuticals, Transrail Lighting, Concord Enviro Systems, Sanathan Textiles, and Mamta Machinery are currently accessible.
Experts attribute the substantial fundraising by companies to the robust economic growth rate, motivating businesses to increase capital investments for expansion. This trend also reflects the rising confidence of investors in the equity market.
The growth rate of the Indian economy stood at 8.2 percent for the financial year (FY) 2023-24. According to the Reserve Bank of India, the growth rate is projected to be 6.6 percent in the current financial year (FY 2024-25).
