From Byju's To Swiggy: IPO-Bound Companies In India Set To Raise Rs 1 Lakh Crore In 2024

After raising nearly ?50,000 crore through IPOs in 2023, companies in India are aiming to double their stakes in 2024.

IPO Bound Companies To Raise ?1 Lakh Crore In 2024

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IPO-bound companies are looking to raise more than ?1 lakh crore this year, which is more than twice the?49,434 crore raised in 2023. The average size of such offerings is also expected to more than double to ?2,000 crore, with several large-sized IPOs such as Swiggy, PhonePe,Ola Electric, etc. scheduled to debut this year.

As of now, as many as 28 companies intending to raise over ?30,000 crore through IPOs have received approval for IPOs from the Securities and Exchange Board of India (SEBI), as per the ET report. Another 36 companies have submitted draft red herring prospectuses (DRHPs) to the market regulator, outlining their plans to raise more than ?50,000 crore, according to primedatabase.com.

Which Big IPOs Are Coming Up In 2024?

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Big IPOs coming up in 2024 include Ola Electric, which filed its DRHP last month, putting it on track to become the first electric vehicle (EV) startup to hold a fresh public offer. The ?8,300-crore ($1 billion) offer will comprise ?5,500 crore being raised through a fresh issue and an offer-for-sale (OFS) component of 95.2 million shares.

Food delivery giant Swiggy, too, is expected to launch a $1 billion IPO in 2024.

Edtech giant Byju's is gearing up for a $1 billion IPO for its tutoring business, Aakash Educational Services, scheduled for later this year. Oyo, too, is reportedly seeking to raise nearly $1 billion following a delay of more than a year.

Digital payments giant PayU is expected to raise about ?5,000 crore this year, while National Securities Depository Ltd. (NSDL) and Brainbees Solutions (parent of FirstCry) are likely to go for IPOs too, with an issue size of more than ?4,000 crore each.

Other big IPOs expected to launch in 2024 are ITC Hotels, Tata Play, Hero Fincorp, and Mobikwik.

Also Read: ITC Likely To Launch Separate IPO For Its Hotel Business In 2024

How Much Did Companies Raise Through IPOs In Previous Years?

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In 2023, about 57 companies raised ?49,434 crore through IPOs, while the record still remains at ?1.19 lakh crore raised by 63 companies in 2021. In 2022, companies in India raised ?59,301 crore through 40 IPOs.

Also Read: Tata Sons To Go For IPO By Sept 2025, All You Need To Know

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