Anticipating 2024: The Top 5 IPOs Set to Reshape the Indian Market Landscape
With the IPO market witnessing a triumphant year, featuring major launches from Tata and Mankind, investors are gearing up for an exciting lineup in 2024. The Indian market, having experienced a historic year with IPO giants like Mankind Pharma and Tata Technologies, is poised for an even more lucrative period in the coming year.
The benchmark Sensex soared over 17% in 2023, crossing the 71,000-point mark in December, while NSE Nifty surpassed the 21,000 mark, primarily fueled by significant contributions from IT industry leaders like Wipro and TCS.
India's global IPO proceeds share has reached an all-time high of 5.98%, doubling in just two years, with its share of Asia IPO proceeds growing from 5.9% in 2018 to 9.9% this year, as reported by Reuters.
As we look ahead to 2024, here are the top five IPOs that are set to make a substantial impact on the market:
-
Swiggy:
- Expected to launch its IPO in early 2024.
- Aiming to raise around $500 million, with investor SoftBank looking to reduce its shares in the company.
-
FirstCry:
- The Pune-based childcare startup plans to launch its IPO post the 2024 Lok Sabha elections.
- Aiming to raise approximately $500-600 million through the issue.
-
Ola Electrical:
- Planning to launch its IPO in January or February 2024.
- Aiming to raise around $400 million to establish its first factory in Tamil Nadu.
-
Oyo:
- IPO draft paperwork pre-filed, with expectations of a mid-2024 launch.
- Anticipated to raise around $400 million.
-
Portea Medical:
- SEBI-approved healthcare startup plans to launch its IPO in Q1 2024.
- Aiming to raise ₹1000 crore through the issue.
After a year of significant IPOs in 2023, these upcoming launches in 2024 are poised to reshape the market landscape, offering investors new opportunities and contributing to the continued growth of the Indian economy.
What's Your Reaction?
