The publication is a detailed analysis of the performance of mainboard Initial Public Offerings (IPOs) in India during the six-month period from 1 April 2024 to 30 September 2024. This report provides a granular understanding of how IPOs have performed during this period. The analysis serves as a continuation of previous publications, enabling a comparative perspective on trends shaping the Indian IPO market.
This comprehensive evaluation examines the performance of 39 companies that went public in the first half of FY25, compared to 27 companies that listed in the same period of FY24. The publication captures changes in market dynamics, investor sentiment, and broader economic conditions influencing the IPO ecosystem. Key parameters considered while analysing the performance of the IPOs include the size of the offerings, subscription data, price performance on listing, and categorisation of companies into Private Equity (PE)-backed and non-PE-backed entities.
The report provides an in-depth analysis of the subscription data, shedding light on investor demand as well as evaluates oversubscription trends, indicating the attractiveness of various IPOs and the sectors that garnered the most interest. The sector-wise performance analysis further dissects the data, revealing which industries have been the frontrunners in IPO activity and which have faced headwinds.
Beyond domestic trends, the report also focuses on the performance of global markets during this period, identifying correlations between international developments and their impact on the Indian IPO market. Key macroeconomic factors such as interest rate movements, geopolitical developments, among others are analysed to contextualise the performance of Indian IPOs in a broader framework.
In addition to market performance, the publication examines key regulatory developments in the Indian capital markets as the Securities and Exchange Board of India (SEBI) continued to closely monitor the developments and activities of the capital markets with the primary objectives of safeguarding the interests of retail investors and ironing out the creases in terms of business operations for market participants.
By integrating quantitative data and qualitative insights, this publication offers a holistic perspective on the trends, challenges, and opportunities shaping the IPO market in India. It serves as a valuable resource for stakeholders aiming to understand the evolving dynamics of the Indian capital markets.
