Indian Companies Achieve Record Fundraising in Equity Market 2024
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Mumbai, Dec 24 (NationPress) The year 2024 has emerged as a landmark year for the Indian stock market. Corporations amassed substantial funds from investors through initial public offerings (IPOs), follow-on public offers (FPOs), qualified institutional placements (QIPs), and rights issues, setting multiple new records.
This year, domestic firms collected Rs 1.64 lakh crore via 90 IPOs.
During this timeframe, shares totaling Rs 1.39 lakh crore were offloaded to institutional investors, marking the highest capital raised through public issues in history.
Previously, in 2021, firms gathered the highest amount of Rs 1.18 lakh crore from IPOs. During that period, shares worth Rs 41,997 crore were sold to institutional investors.
Thus far in 2024, approximately 20 companies have garnered around Rs 18,000 crore through rights issues. Last year, this amount was Rs 7,266 crore, and in 2022, it stood at Rs 3,884 crore.
Thanks to the surge in the IPO market, in December 2024, around 15 companies are set to raise Rs 25,500 crore through public issues.
The largest IPO in the history of the Indian stock market was initiated by Hyundai Motor India, with an issue size of Rs 27,870 crore.
Previously, the LIC public issue of Rs 21,008 crore in 2022 held the record for the largest IPO in the country. In 2024, the Vibhor Steel Tube IPO achieved the highest subscription at 320 times. Additionally, IPOs such as KRN Heat Exchanger & Refrigeration, Manba Finance, and Gala Precision Engineering received over 200 times subscriptions.
Indian firms amassed Rs 1.4 lakh crore this year through QIPs, the highest total since 2020.
This year, both Vedanta and Zomato raised Rs 8,500 crore each through QIP. Furthermore, 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 injected approximately $14 billion into the primary markets this year, surpassing the previous record set in 2021.
