IPOs In 2024: Capital Goods Most Popular; Autos Raise The Most

The calendar year 2024 saw equity issuances through initial public offerings rise to stellar highs as the total money raised hit nearly Rs 1.6 lakh crore.

One in seven companies listed during the year belonged to the capital goods space, while the automobiles and auto components sector saw the largest amount of equity capital raised.

Hyundai India primarily led automobile and auto components sector in terms of funds raised via the IPO route, as it mopped up Rs 27,870 crore through an issue that comprised only an offer-for-sale component. This drove the cumulative equity raised by companies in the sector to over Rs 37,000 crore, with the consumer services sector following next.

IPOs in consumer services space included the long-awaited public issue of Swiggy Ltd. The company, which is a rival of industry leader Zomato Ltd., raised Rs 11,300 crore through the second largest offering for the year.

Vishal Mega Mart Ltd.'s Rs 8,000-crore IPO was the second largest issue in the consumer services sector.

The financial services sector followed third in total equity raised by constituent companies, and second by the total number of IPOs in any sector.

The top three sectors — automobiles and auto components, consumer services, and financial services drew over 55% of the total equity raised during the year.

The most number of companies in any sector came from the capital goods space, which saw 13 offerings over the course of the calendar year. Total equity raised through IPOs by companies in this sector stood at nearly Rs 11,900 crore, claiming the fifth spot, behind those in the power sector.

While those in the power sector claimed the fourth spot by total capital raised. This segment included only two offerings, primarily led by NTPC Green Ltd. with an issue worth Rs 10,000 crore, and ACME Solar Holdings Ltd. with an issue worth Rs 2,900 crore.