Hyundai Motor India to Swiggy: Key takeaways from major IPOs of 2024 so far
The year 2024 saw a surge in high-profile IPOs across diverse sectors. Here are the biggest IPOs in terms of listing gains, investor enthusiasm, and overall performance.
Hyundai Motor
Hyundai Motor India's IPO raised $3.3 billion, priced at Rs 525 per share. Despite strong institutional demand, shares opened with a 4 per cent loss, reflecting tepid retail sentiment.
Swiggy
Swiggy's Rs 11,300-crore IPO, priced at Rs 425 per share, was subscribed 3.59 times but listed with a 2 per cent loss, trailing Hyundai Motor India's Rs 27,870-crore issue.
NTPC Green Energy
NTPC Green Energy's IPO opened on November 19, aiming to raise Rs 10,000 crore by issuing 92.59 crore fresh shares. Priced at Rs 108 per share, the IPO closes on November 22. Share allotment is expected on November 25, with listing on NSE and BSE scheduled for December 2.
Bajaj Housing Finance
Bajaj Housing Finance's IPO was India's top debut of the year, with shares soaring 136% on listing. The company raised $781 million, driven by strong retail investor demand
Ola Electric
Ola Electric, the Indian e-scooter maker, is targeting a $734 million raise through its IPO, which is set to be the country’s largest public offering this year. The deal is expected to attract major foreign investors, reflecting growing confidence in India's financial markets. The stock market has witnessed a boom, with over 150 Indian companies raising nearly $5 billion in public listings from January to July 2024, nearly doubling the amount raised in the same period last year
Afcons Infrastructure
Afcons Infrastructure's IPO, priced at Rs 440-463 per share, was subscribed 36% by the second day of bidding, with the employee category oversubscribed. The retail portion saw 36% subscription, while QIBs received just 8%. The issue aims to raise Rs 5,430 crore and closes on October 29.
Waaree Energies
Waaree Energies' Rs 4,321 crore IPO set a record with 97.34 lakh applications and bids worth Rs 2.41 lakh crore. Open from October 21-23, 2024, it highlighted immense retail and institutional interest.
Bharti Hexacom
Bharti Hexacom's IPO, valued at Rs 4,275 crore, offered 75 million equity shares at a price band of Rs 542-570 per share. The IPO, requiring a minimum order of 26 shares, opened for subscription on April 3, 2024, and closed on April 5, 2024.
Brainbees Solutions (Firstcry)
Brainbees Solutions (Firstcry) IPO raised Rs 4,193.73 crore, including a fresh issue of Rs 1,666 crore and an offer for sale of Rs 2,527.73 crore. The IPO was priced at Rs 440-465 per share, with a minimum lot size of 32 shares, requiring a Rs 14,880 investment for retail investors. Employee reservations included 71,258 shares at a Rs 44 discount.
The IPO opened for bidding from August 6-8, 2024, with allotments finalized on August 9. Firstcry shares were listed on NSE and BSE on August 13, 2024, reflecting strong market interest.
Aadhar Housing Finance
Aadhar Housing Finance's Rs 3,000 crore IPO, priced at Rs 300-315 per share, included a Rs 1,000 crore fresh issue and a Rs 2,000 crore offer for sale. Retail investors required a minimum investment of Rs 14,805. The IPO ran from May 8-10, with shares listed on May 15, 2024.