Primary Market Fundraise Through IPOs, QIPs, Preferential Issues Decline In November

Fundraising in the primary market through initial public offerings, qualified institutional placement of shares, rights issue and preferential issues declined 9% in November in comparison to the previous month.

Companies raised Rs 49,507 crore last month, down from Rs 54,616 crore in October, according to a monthly bulletin from the Securities and Exchange Board of India on Friday.

November's capital raise included Rs 35,849 crore mobilised from the IPOs of 12 issues, with eight mainboard offers contributing Rs 35,729 crore. This includes the high-profile IPO of Swiggy Ltd. worth Rs 11,327 crore and Afcons Infrastructure Ltd's Rs 5,430-crore offer.

On the other hand, IPO activity in the SME space moderated significantly both in terms of number of issues as well as resource mobilisation, SEBI said. Fundraise tanked 90% over the previous month to Rs 120 crore.

Funds raised via rights and preferential issues also declined to Rs 417 crore and Rs 2,051 crore respectively, as compared to October 2024. Amount raised through the QIP also declined 28% over the previous month to Rs 11,190 crore.

The primary market registered foreign portfolio inflows of Rs 17,704 crore. In the debt market, the amount raised fell, with public issues mopping Rs 218 crore and private placement raising Rs 67,540 crore, a decline of 11% as compared to October, SEBI bulletin noted.

Meanwhile, in the alternative investment space, there was no activity in REITs and InvITs during the month.