India's IPO fundraising set for landmark year 2024: S&P Global Market Intelligence

New Delhi [India], December 8 (ANI) Fundraising via initial public offerings (IPO) in India is set for another landmark year this 2024, asserted S&P Global Market Intelligence in a report.
Economic growth, favorable market conditions and improvements in the regulatory framework helped companies raise record amounts in 2024, the financial information and analytics firm said in its analysis earlier this week.
As of December 3, as many as 298 companies have gone public on the exchanges - NSE and BSE. Notably, Hyundai Motor India's Rs 278.59 billion public issue, which was completed in October, is the country's largest IPO ever.
The listed companies raised a combined Rs 1.4 trillion rupees, according to data compiled by S&P Global Market Intelligence.
The IPO count this year grew over 22 per cent from 243 in 2023, while fundraising volumes jumped about 140 per cent from Rs 588.27 billion, according to S&P Global Market Intelligence data.
The NSE's benchmark index, the NIFTY 50, reached an all-time high of 26,216 points on September 27, while the BSE Sensex peaked at 85,836 points on September 26.
The stock market gains have been underpinned by India's robust economic growth prospects, the report said. Sensex and Nifty rose about 13-14 per cent so far this year, with three more weeks to go.
Separately, as of November 29, 85 companies were at various stages of the NSE and BSE listing process, of which 40 had already received approval to kick off their offerings, data compiled by S&P Global Market Intelligence showed. They include 21 companies whose IPOs were under process at the stock exchanges.
Taking opportunities in India's booming stock market, many companies intended to list their shares, and a sizable number of them have made handsome gains.
Initial public offering (IPO) refers to the process where companies sell their shares to the public to raise equity capital from the investors. (ANI)