The financial year 2023-24 witnessed a surge in Initial Public Offerings (IPOs) with 76 Indian corporates collectively raising about ₹61,915 crore. This marks a 19% increase from the previous fiscal year's mobilization of ₹52,116 crore through 37 IPOs.
Among the standout IPOs of FY24, Mankind Pharma led the charge with a substantial ₹4,326 crore, followed closely by Tata Technologies securing ₹3,043 crore and JSW Infrastructure raising ₹2,800 crore.
On the flip side, Plaza Wires and Vibhor Steel marked the smaller end of the spectrum, garnering ₹71 crore and ₹72 crore respectively.
Despite the rise in total funds raised, the average deal size saw a significant reduction to ₹815 crore, down from ₹1,409 crore in 2022-23 and ₹2,105 crore in 2021-22.
Excluding the monumental IPO of LIC in 2022-23, the overall fund mobilization in FY24 would have soared by 58%, as per PRIME Database, a website tracking domestic IPO movement.
The listing gains also witnessed a considerable uptick, with the average standing at 29%, compared to 9% in 2022-23.
Also Watch: Mutual Fund investors to redo their KYC by March 31 or else...