2024: A Record-Breaking Year for IPOs – Is 2025 Set to Outshine?

Markets Discussions
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2024 has been a stellar year for companies raising funds through IPOs, with nearly ₹1.6 lakh crore mobilized, thanks to favorable market conditions and regulatory reforms.

Looking ahead, 2025 is expected to be even bigger, with estimates suggesting companies could raise up to ₹2.5 lakh crore. This year, Hyundai Motor India set a record with the largest-ever IPO, raising ₹27,870 crore.

IPO activity in 2024 saw participation from companies across market capitalizations—large, mid, and small—boosting the average issue size from ₹867 crore in 2023 to over ₹1,700 crore in 2024. The market’s vibrancy was particularly evident in December, which alone saw at least 15 IPO launches.

The pipeline for 2025 promises major offerings, including HDB Financial Services’ ₹12,500 crore IPO, LG Electronics India’s ₹15,000 crore public float, and Hexaware Technologies’ ₹9,950 crore issue.

For context, 2021 was a landmark year, with 63 companies raising ₹1.2 lakh crore—the highest in two decades—driven by ample liquidity, increased retail participation, and market euphoria.

Among 2024’s largest IPOs:

  • Hyundai Motor India: ₹27,870 crore
  • Swiggy: ₹11,327 crore
  • NTPC Green Energy: ₹10,000 crore
  • Bajaj Housing Finance: ₹6,560 crore
  • Ola Electric Mobility: ₹6,145 crore

Over 60 companies delivered positive listing gains this year, reflecting robust demand.

The SME segment also witnessed unprecedented activity, with 238 small and medium enterprises raising a record ₹8,700 crore—nearly double the ₹4,686 crore raised in 2023, as per Primedatabase.com.

2024 will undoubtedly be remembered as a milestone year for the Indian IPO market, setting the stage for even greater achievements in 2025.

Which IPOs are you most excited about in 2025, and what’s your strategy for investing in the upcoming primary market boom? Let us know in the comments!

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I’m worried about this news, especially for passive investors.

It’s going to be tough for mutual fund managers, too.

There are just so many companies to choose from when picking fund constituents, and there are too many companies in the basket. That’s why the returns are now falling below those of the premier index ETFs.

I think we’re already starting to see the effects of this in the last three months.

Money is flowing into the market from domestic institutions, but, unfortunately, the overall returns are decreasing across all funds and premier stocks. Even blue chip stocks that were once in high demand are lagging and are now selling below 20%.

I’m not sure how the foreign institutional investors (FIIs) will be able to help. It seems like we need to bring in more investors from other parts of the world. We can’t just rely on US-based investment banks and Mauritius-based proxies to buy up this excess supply.

We will need more money than ever before to fill in all this excess supply of listed companies.

I’m sure it’s just a matter of time before some restrictions / quota kick in to limit the IPOs.

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Simple - Stay away from IPO :sweat_smile:

Most of the IPOs unlock value for the promoters and their investors and not for the retail. It is better to buy stocks in the secondary market after the market gives the right valuation to a stock.