In 2024, IPO anchor investments reached an all-time high of ₹45,650 crore, with foreign institutional investors (FIIs) contributing ₹25,300 crore—their highest since 2021—and mutual funds (MFs) investing a historic ₹20,351 crore, more than triple their previous year’s contribution. However, for the first time in two years, FII investments outpaced MFs, exceeding their contributions by nearly 20%.
Major IPOs attracting substantial anchor investments included Hyundai Motors India, Swiggy, NTPC Green Energy, and Ola Electric Mobility. FIIs led with ₹4,545 crore in Hyundai Motors India’s anchor book—50% higher than MFs. In Swiggy’s IPO, FIIs contributed ₹2,100 crore, narrowly surpassing MF investments. For NTPC Green Energy, MFs invested ₹1,570 crore, outdoing the ₹1,493 crore by FIIs.
Top FII anchor investors included Government Pension Fund Global (₹1,273 crore), Government of Singapore (₹1,262 crore), and New World Fund Inc (₹1,256 crore). Leading MF anchors were ICICI Prudential MF (₹2,261 crore), Nippon India MF (₹2,064 crore), and HDFC MF (₹2,025 crore).
Overall, Indian companies raised a record ₹1.5 lakh crore through 75 IPOs, compared to ₹49,435 crore from 57 IPOs in 2023 and ₹59,301 crore from 40 IPOs in 2022.
The growth in mutual fund participation is driven by consistent inflows into equity schemes, with ₹3.53 lakh crore inflows recorded in 2024, up from ₹1.61 lakh crore in both 2022 and 2023. Open-ended equity funds have reported 45 consecutive months of positive inflows, strengthening domestic institutional investors’ (DIIs) role in the IPO market.
Introduced by SEBI in 2009, anchor investors help stabilize the IPO market, enhance investor confidence, and encourage retail participation by investing large sums early to create credibility and drive demand.
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