December IPOs could smash records with ₹40,000cr fundraising
December 2024 is shaping up to be huge for India's stock market, with eight big IPOs expected to raise ₹35,000-₹40,000 crore.
For the year so far, IPO fundraising has already hit ₹1.54 lakh crore from 93 listings and could reach up to ₹1.9 lakh crore by New Year's.
Who's going public?
It's a mixed bag this month: Meesho (India's largest social commerce platform by user base, with 21.3 crore users) is eyeing a massive ₹52,500-₹53,000 crore valuation.
ICICI Prudential AMC brings serious finance muscle with assets at ₹9.44 lakh crore and profits of ₹2,650 crore.
Also joining are CleanMax (renewable energy), Fractal Analytics (AI/data), Milky Mist Dairy, Aequs, Skyways Air Services, and Corona Remedies among the eight main IPOs, with Hero FinCorp, Juniper Green Energy, and boAt also expected to launch IPOs in December.
How are IPOs doing lately?
Results have been all over the place—32 stocks now trade below their issue price while just four have delivered over 50% gains.
Still, experts think the primary market will stay strong into 2025 as more companies look to go public.