Reaching milestone: IPO market roars past Rs 1 trillion mark in 2024

Afcons Infrastructure’s Rs 5,430 crore initial public offering (IPO) has pushed this year’s IPO mobilisation beyond Rs 1 trillion, a milestone achieved only once before in 2021 (Rs 1.19 trillion). The upcoming big-ticket IPOs — Swiggy (Rs 11,700 crore), NTPC Green (Rs 10,000 crore), and Vishal Mega Mart (Rs 8,000 crore) — are expected to surpass the 2021 record. Small and medium enterprise (SME) IPOs have already reached a record high, with 215 companies raising Rs 7,700 crore, exceeding last year's record by 65 per cent. Ample domestic liquidity and encouraging post-listing performance have driven this year's IPO success. Of the 64 mainboard IPOs, only 12 saw their stock price dip below the issue price on the listing day. Currently, including Hyundai, only 15 stocks trade below their IPO price.