What do experts say
V Prashant Rao, Director and Head (ECM, Investment Banking), Anand Rathi Advisors, believes that the momentum of 2023 will continue in 2024 and this year could be golden for Indian primary markets. Neha Aggarwal, Managing Director and Head (Equity Capital Markets) at JM Financial, said that we estimate that there will be strong growth in the IPO market in 2024. This optimism is driven by the better growth prospects of the Indian markets. The flow is expected to gain more momentum once the uncertainties related to the elections are resolved. About 24 companies have already received approval from market regulator SEBI to launch IPO. It is estimated that they will raise more than Rs 26,000 crore. According to Prime Database, 32 companies have filed their draft papers with SEBI to raise about Rs 35,000 crore. According to industry data, 58 companies launched their IPO this year and raised Rs 52,637 crore. Last year, 40 companies had raised Rs 59,302 crore through IPO.