Companies are swiftly moving to capitalize on India’s booming stock market, with Hyundai Motor India’s upcoming initial public offering (IPO) poised to become the largest of 2024 so far. Scheduled for launch next week, this $3 billion IPO will mark the first entry of a carmaker into the Indian IPO market in two decades, as the company’s Korean parent seeks to sell a 17.5% stake, targeting a valuation of approximately $19 billion.

India’s IPO landscape has been remarkably active this year, with over 260 companies collectively raising around $9 billion—more than double the amount raised during the same timeframe in 2023, according to data from LSEG.

Here’s a roundup of the biggest IPOs launched or announced in 2024:

  • Hyundai Motor India: $3 billion IPO opening next week, seeking a valuation of $19 billion.
  • Swiggy: The food delivery giant, backed by SoftBank, has filed for an IPO worth approximately $1.25 billion.
  • NTPC Green: The green energy subsidiary of state-run NTPC aims for a $1.2 billion IPO, having filed draft papers in September.
  • Bajaj Housing Finance: The home loan financier saw its shares more than double post its $782 million IPO in September, which received an overwhelming response.
  • Ola Electric: The electric scooter manufacturer raised $734 million in an IPO in August, attracting investment interest from firms like Fidelity and Nomura.
  • Schloss Bangalore: The owner of Leela Hotels, backed by Brookfield, has filed for a $599 million IPO in September.
  • Bharti Hexacom: This telecom operator launched a $511 million IPO in April, which was oversubscribed with bids exceeding $8 billion.
  • Aadhar Housing Finance: The mortgage lender raised $358 million in its May IPO.
  • Go Digit General Insurance: This insurer successfully launched its share sale in May, raising $312 million.

With the IPO market flourishing, the upcoming weeks are likely to witness heightened investor interest as more companies seek to enter the public domain.

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