(Reuters) -Companies are rushing to go public in India this year as the stock market booms, with Hyundai Motor’s Indian unit gearing up to launch the country’s biggest initial public offering (IPO) of 2024 so far next week.
About 260 companies have raised over $9 billion through IPOs in India so far this year, more than double the amount raised in the same period last year, LSEG data shows.
These are the country’s biggest IPOs of 2024:
* HYUNDAI MOTOR INDIA
Hyundai Motor India’s $3 billion IPO, the first by a carmaker in India in two decades, opens for subscription next week. Its Korean parent is selling a 17.5% stake in the offering as the company targets a valuation of about $19 billion.
* SWIGGY
SoftBank-backed food delivery firm Swiggy in September filed papers for an IPO, which a source said could be worth $1.25 billion.
* NTPC GREEN
State-run NTPC’s green energy arm filed draft papers for a $1.2 billion IPO in September.
* BAJAJ HOUSING FINANCE
Shares of India’s most valuable home loan financier have more than doubled after a blockbuster response to its $782 million IPO in September.
* OLA ELECTRIC
The electric scooter maker’s $734-million IPO in August drew investor interest from the likes of Fidelity and Nomura.
* SCHLOSS BANGALORE
Brookfield-backed Leela hotels owner Schloss Bangalore filed for a $599 million IPO in September.
* BHARTI HEXACOM
Telecom operator Bharti Hexacom’s $511-million IPO was launched in April, attracting bids worth more than $8 billion.
* AADHAR HOUSING FINANCE
Mortgage lender Aadhar Housing Finance’s IPO in May raised $358 million.
* GO DIGIT GENERAL INSURANCE
Insurer Go Digit launched its share sale in May, raising $312 million.
(Reporting by Nandan Mandayam, Dimpal Gulwani in Bengaluru; Editing by Aditya Kalra and Mark Potter)
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