Indian Startup Landscape Secures Over Rs 29,200 Crore in 2024 with a Historic 13 IPOs

New Delhi, Dec 24 (NationPress) In a pivotal year for the Indian startup landscape, 13 innovative companies made their debut through initial public offerings (IPOs), raising a staggering over Rs 29,200 crore from the stock market.

In terms of IPO activity, previous years saw 10 IPOs in 2021, followed by 6 in both 2022 and 2023.

This year, startups collectively secured Rs 29,247 crore from the capital markets. This included nearly Rs 14,672 crore in fresh issues and Rs 14,574 crore from Offer for Sale (OFS).

In an IPO context, funds raised from fresh issues are directed to the company, while proceeds from OFS are allocated to investors and promoters.

Out of the 13 startup IPOs, 10 were on the mainboard and 3 were SME IPOs.

The IPOs included prominent names such as TAC Security, Unicommerce, MobiKwik, TBO Tek, Ixigo, Trust Fintech, FirstCry, Menhood, Awfis, Swiggy, Digit Insurance, Blackbuck, and Ola Electric.

The largest IPO was undertaken by the online food delivery service Swiggy, raising Rs 11,327.43 crore. Swiggy's shares debuted at Rs 420, reflecting a premium of 7.69 percent.

Following closely, the electric vehicle manufacturer Ola Electric secured Rs 6,145.56 crore, with FirstCry at Rs 4,193.73 crore, Digit Insurance at Rs 2,614.65 crore, and TBO Tech at Rs 1,550.81 crore.

Among mainboard startups, Unicommerce achieved the highest subscription rate at 168.39 times, followed by MobiKwik at 119.38 times, Awfis at 108.56 times, Ixigo at 98.34 times, and TBO Tek at 86.7 times.

Highlighting performance, TAC Security achieved the highest listing gain at 173.58 percent, followed by Unicommerce and MobiKwik with gains of 117 percent and 57.71 percent, respectively.

Additionally, Ixigo, Trust Fintech, and FirstCry saw their stock prices surge by 30-50 percent upon listing.