Over 28 companies, both mainboard and small and medium enterprises, have entered the equity market in September, making it the busiest month for the Initial Public offering (IPO) in 14 years, Reserve Bank of India’s latest monthly bulletin said.
So far in 2024, resource mobilisation through IPOs have remained robust. In the Apr-Sep, India accounted for highest number of IPOs issuances globally, led by public offerings by small and medium enterprises. It further added that a growing number of listed companies are turning to qualified institutional placements for raising capital, estimated at around Rs 60,000 crore in the first eight months of 2024.
“Investor enthusiasm in the primary segment can be gauged by the fact that the IPO of a housing finance company in the second week of September garnered bids of over ₹3 lakh crore,” the bulletin said.
Markets rebounded and mirrored the bullish trends in the global markets, the bulletin said. Overall, the BSE Sensex gained 6.9 per cent since Aug 15, 2024 to close at 84,544 on Sept 20.
