In FY24, 272 companies went public as compared to 164 in FY23: SEBI
Aug 10, 2024, 14:35 IST
New Delhi: India's Initial Public Offering (IPO) market witnessed a resurgence in 2024, with a total of 272 companies going public compared to 164 during the previous fiscal year, highlights a report by SEBI.
The market regulator SEBI stated that upbeat secondary markets, enthusiasm from retail investors, and strong institutional flows set the stage for a flurry of new listings.
"After a relative moderation during 2022-23, the equity segment witnessed a resurgence in fundraising activity during the current fiscal. The IPO market had been vibrant with a total of 272 companies going public as compared to 164 during the last fiscal year," said SEBI.
The report also noted that India received the highest foreign investment in the year 2023-24, as the investment surged to a new high of Rs 3.4 lakh crore. It also added that the investment in the year 2023-24 is the highest since the year 1992-93.
"Compared to net outflows of Rs 40,936 crore in 2022-23, FPIs invested Rs 3.4 lakh crore in India during 2023-24, which was the highest since 1992-93," said SEBI.
SEBI highlighted that Foreign Portfolio Investment and foreign venture capital investment are crucial for emerging economies like India. FY 2023-24 was an exceptional year for India in terms of foreign portfolio investment flows.
It added that India's continuing growth resilience, financial stability, reining in of inflation, fiscal consolidation coupled with the persistence of inflation in advanced economies, uncertain geopolitical scenarios, etc., attracted a record level of foreign flows to India.
The report noted that in the midst of a subdued global economic scenario with recession risks and monetary tightening, India's economic prospects were bright among emerging markets, driven by a fillip in manufacturing and service sector activities, easing inflation, fiscal consolidation, financial stability, and buoyant market performance.
According to the sector-wise breakup on FPI investment, the report stated that out of the consolidated Rs 64.2 lakh crore equity assets held by FPIs, Rs 18.6 lakh crore were invested in financial services, followed by oil, gas, and consumable fuels (Rs 6.0 lakh crore), information technology (Rs 5.9 lakh crore), and automobile and auto components with Rs 4.8 lakh crore invested.
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The market regulator SEBI stated that upbeat secondary markets, enthusiasm from retail investors, and strong institutional flows set the stage for a flurry of new listings.
"After a relative moderation during 2022-23, the equity segment witnessed a resurgence in fundraising activity during the current fiscal. The IPO market had been vibrant with a total of 272 companies going public as compared to 164 during the last fiscal year," said SEBI.
The report also noted that India received the highest foreign investment in the year 2023-24, as the investment surged to a new high of Rs 3.4 lakh crore. It also added that the investment in the year 2023-24 is the highest since the year 1992-93.
"Compared to net outflows of Rs 40,936 crore in 2022-23, FPIs invested Rs 3.4 lakh crore in India during 2023-24, which was the highest since 1992-93," said SEBI.
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It added that India's continuing growth resilience, financial stability, reining in of inflation, fiscal consolidation coupled with the persistence of inflation in advanced economies, uncertain geopolitical scenarios, etc., attracted a record level of foreign flows to India.
The report noted that in the midst of a subdued global economic scenario with recession risks and monetary tightening, India's economic prospects were bright among emerging markets, driven by a fillip in manufacturing and service sector activities, easing inflation, fiscal consolidation, financial stability, and buoyant market performance.
According to the sector-wise breakup on FPI investment, the report stated that out of the consolidated Rs 64.2 lakh crore equity assets held by FPIs, Rs 18.6 lakh crore were invested in financial services, followed by oil, gas, and consumable fuels (Rs 6.0 lakh crore), information technology (Rs 5.9 lakh crore), and automobile and auto components with Rs 4.8 lakh crore invested.