India’s stock market in 2024 is set to witness some major Initial Public Offerings (IPOs), with companies from diverse sectors looking to capitalize on investor interest. These IPOs, which range from auto manufacturing to green energy, are poised to reshape the business landscape in India. This article takes an in-depth look at the largest IPOs of 2024, focusing not just on the companies themselves, but also the educational backgrounds of the CEOs and founders leading them.
5. Hyundai Motor India: A $3 Billion IPO – Unsoo Kim
Hyundai Motor India, one of the largest car manufacturers in India, is preparing to launch its $3 billion IPO, making it the first carmaker to go public in India in two decades. The IPO is highly anticipated, with Hyundai’s parent company in South Korea planning to sell a 17.5% stake, valuing the company at around $19 billion. This landmark offering is expected to significantly boost Hyundai’s visibility and business expansion in India, especially in a growing auto market.
CEO Educational Qualifications: Unsoo Kim
Unsoo Kim, the Managing Director of Hyundai Motor India, has been with the company for over three decades, serving in various leadership roles. He holds a Bachelor’s degree in Economics from the College of Business and Economics at Yeungnam University in South Korea. Kim’s vast experience with Hyundai spans different global locations, where he has led initiatives that helped shape the company’s growth strategy in India and beyond.
4. Swiggy: The Food Delivery Giant’s IPO – Sriharsha Majety
Swiggy, one of India’s most prominent food delivery platforms, has filed for an IPO in 2024, with reports suggesting the offering could be worth around $1.25 billion. The company, which has seen explosive growth over the years, is backed by major investors like SoftBank. Swiggy’s IPO is one of the most eagerly awaited offerings in the Indian tech sector, and its debut will mark another significant milestone in the food delivery and e-commerce ecosystem in India.
CEO Educational Qualifications: Sriharsha Majety
Sriharsha Majety, the low-profile CEO and co-founder of Swiggy has been a key figure in the company’s rapid rise. Known for his hands-on leadership style, Majety’s educational qualifications include:
- Bachelor of Engineering (BE) in Electrical and Electronics Engineering from the Birla Institute of Technology and Science (BITS), Pilani.
- Master of Science (MSc) in Physics from BITS, Pilani.
- Post-Graduate Diploma in Management (PGDM) from Indian Institute of Management (IIM), Calcutta.
Majety’s diverse academic background reflects his technical expertise combined with strong business acumen, which has played a crucial role in Swiggy’s journey.
3. NTPC Green Energy: A $1.2 Billion IPO – Rajiv Gupta
NTPC Green Energy Limited (NGEL), a subsidiary of India’s state-run power giant NTPC, is planning an IPO of around $1.2 billion. The company is focused on renewable energy, including solar and wind power projects, aligning with India’s ambitious climate goals. With the growing importance of sustainable energy in India, NTPC Green’s IPO is expected to attract significant interest from investors looking to back green and clean energy projects.
CEO Educational Qualifications: Rajiv Gupta
Rajiv Gupta, the CEO of NTPC Green Energy Limited, is at the helm of this green energy initiative. Gupta’s educational qualifications include:
- Bachelor of Engineering (BE) in Mechanical Engineering from Delhi College of Engineering.
- MBA in Finance from Delhi University.
Gupta’s blend of technical expertise and finance management experience positions him well to lead NGEL in an increasingly competitive energy market.
2. Bajaj Housing Finance: A $782 Million IPO – Atul Jain
Bajaj Housing Finance Ltd, a subsidiary of Bajaj Finserv, is one of the newest major players in India’s housing finance sector. The company’s IPO, which raised $782 million in September 2024, has seen a massive positive response, with its market capitalization rising to Rs 1,37,406.09 crore. The IPO marks a significant milestone for Bajaj Housing Finance as it moves into the top echelons of India’s housing finance industry.
CEO Educational Qualifications: Atul Jain
Atul Jain, the Managing Director of Bajaj Housing Finance, has been instrumental in the company’s success. Jain has a long history with the Bajaj Group, having worked with the company for over two decades. His educational background includes:
MBA in Finance from Punjabi University, Patiala.
Jain’s leadership, despite not hailing from India’s premier educational institutes like IITs or IIMs, demonstrates how practical experience and business acumen can drive success in the financial sector.
1. Ola Electric: A $734 Million IPO – Bhavish Aggarwal
Ola Electric, the ride-hailing giant Ola’s electric vehicle (EV) arm, is set to launch a $734 million IPO. The company has gained considerable attention for its innovation in the electric scooter segment. Ola Electric’s IPO is expected to attract substantial investment, as India moves towards electrification in the transport sector, driven by the government’s focus on reducing carbon emissions and promoting sustainable energy.
CEO Educational Qualifications: Bhavish Aggarwal
Bhavish Aggarwal, the founder and CEO of Ola Electric, is a self-made billionaire and one of India’s most influential tech entrepreneurs. His educational qualifications include:
Bachelor’s degree in Computer Engineering from the Indian Institute of Technology Bombay (IIT-Bombay).
Aggarwal’s leadership at Ola Electric has been pivotal in scaling the company’s electric scooter business, making it a key player in India’s EV market. His computer engineering and technology background, combined with a strong entrepreneurial drive, has helped him lead Ola Electric to great heights. In 2018, he was named one of Time magazine’s “100 Most Influential People.”
