December is on track to record the highest number of IPOs in nearly 17 years, with 15 companies collectively raising approximately ₹24,950 crore this month. This marks the busiest IPO period since February 2007, which saw 18 offerings.
The ₹24,950 crore raised this month makes December the third-best month of 2024 for IPO fundraising, following October (₹38,689 crore from six IPOs) and November (₹31,145 crore from eight IPOs). Additionally, two more IPOs—Avanse Financial Services and Indo Farm Equipment—are expected before the month ends.
The month featured six major IPOs, each exceeding ₹1,000 crore, while the rest ranged between ₹180 crore and ₹570 crore. The largest was Vishal Mega Mart, raising over ₹8,000 crore, followed by International Gemmological Institute India (₹4,225 crore) and Sai Life Science (₹3,042 crore). Other notable IPOs included Inventurus Knowledge Solutions (₹2,498 crore), Ventive Hospitality (₹1,600 crore), and Carraro India (₹1,250 crore).
The year 2024 has been a record-breaking one for IPOs in India, driven by strong liquidity and buoyant domestic markets, in contrast to global market volatility. So far, 92 IPOs have collectively raised over ₹1.6 lakh crore, setting a new all-time high.
Experts attribute this surge to a post-pandemic K-shaped recovery, which has enabled many companies to thrive. A favorable macroeconomic environment, growing demand for private capital expenditure, and improved access to capital markets have encouraged companies to go public. Nirav Karkera, Head of Research at Fisdom, noted that increased participation across investor segments, higher retail involvement, and a positive outlook for Indian equities have driven successful IPO listings, boosting confidence among aspiring public companies.
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