As the festive season of Diwali approaches, which marks the beginning of the new Hindu year, the Indian primary market has seen an exceptional rise over the past year. From last Diwali till now, 82 companies have raised a remarkable Rs 1.08 trillion, with more initial public offerings (IPOs) still open for subscription as the year draws to a close.
Leading this impressive feat is South Korean carmaker Hyundai Motor, which made headlines with a monumental IPO of Rs 27,000 crore – the largest ever in India. Moreover, Bajaj Housing Finance Limited’s IPO has attracted a lot of attention, attracting bids worth Rs 3.2 trillion for its Rs 6,560 crore offering. This overwhelming interest resulted in nearly 9 million applications, surpassing the previous record set by Tata Technologies earlier this year.
Major players and diverse offering
The market has also seen participation from several major players including Bharti Hexacom, the Indian Renewable Energy Development Agency (IREDA), Go Digit General Insurance, Brainbees Solutions (Firstcry), Ola Electric Mobility, Aadhar Housing Finance, Premier Energies and Vodafone Idea. , which conducted a follow-on public offer (FPO) of Rs 18,000 crore.
Analysts attribute the strong primary market performance to favorable secondary market conditions, abundant liquidity and significant regulatory reforms that have increased transparency and encouraged investor participation. The robust stock market performance has inspired confidence among both retail and institutional investors, who have been actively involved in IPOs and often paid premiums in anticipation of future growth.
Positive prospects for the future
Looking ahead, the outlook for the Indian markets remains promising. Several companies are lining up to go public soon, including National Stock Exchange (NSE), National Securities Depository (NSDL), Vishal Mega Mart, NTPC Green Energy, ONGC Green Energy, Satluj Jal Vidyut Nigam (SJVN ) and Swiggy. Moreover, 28 companies have already received approval from the Securities and Exchange Board of India (SEBI) and are expected to raise around Rs 49,889 crore through upcoming public offers.
Moreover, nearly 63 companies are awaiting regulatory approval after filing their papers with SEBI, aiming to raise around Rs 90,608 crore through future IPOs. As the New Year begins with the Diwali festivities, the resilience of the Indian economy and strong investor sentiment will keep the IPO market thriving, providing ample opportunities for investors and companies alike.
