Recap of the Top IPOs of 2024: Key Highlights You Should Know

In 2024, a variety of IPOs made headlines with their market performances. The best-performing IPOs came from healthcare and consumer-focused companies. These businesses attracted a lot of attention because they had strong, reliable business plans.

Many smaller companies entered the stock market, making a big impact and catching the attention of investors.

If you're planning to invest in upcoming IPOs, this recap will show what worked well in 2024 and what to expect in 2025.

Top 5 IPOs that made headlines in 2024

A few IPOs caught our attention in 2024. Let’s take a look at the top five IPOs that were huge.

1. Vishal Mega Mart IPO

Vishal Mega Mart is a popular retail brand that raised ₹8,000 crores through an offer for sale. It was subscribed over 27 times. The stock made a strong debut at ₹111.93, 43.5% higher than the issue price of ₹78. It hit the market with a bang, showing solid growth right away.

2. Bajaj Housing Finance IPO

Bajaj Housing Finance surprised everyone with its IPO in September 2024, raising ₹6,560 crore. There was a lot of interest, with people applying for 63.61 times more shares than what was available.

The retail portion was 7 times oversubscribed. The stock started at ₹165, which was a 135% increase from the issue price of ₹70.

3. NTPC Green Energy IPO

NTPC Green Energy’s IPO in November 2024 raised ₹10,000 crore. It was a game-changer for the green energy sector. The subscription was 2.42 times, but the stock performed well.

It even rose 12.64% on the first day as investors were backing clean energy. The stock started at ₹108 and quickly rose to ₹121.

4. Swiggy IPO

Swiggy, one of India’s food delivery giants and Zomato’s competitor went public in November 2024. It raised ₹11,327 crore and was subscribed 3.59 times, which wasn’t huge, but the stock performed well. It debuted at ₹456, giving a neat 16.92% premium over the issue price of ₹390.

5. Hyundai Motor IPO

Hyundai Motor India launched its IPO in October 2024, raising ₹27,870 crore. It was the biggest IPO of the year. There was a lot of excitement around it. Even the demand was 2.37 times more than the available shares. However, the stock didn’t meet expectations.

The IPO opened at ₹1819.6, which was 7.16% less than the issue price of ₹1960. Even though the stock hasn’t done as well as expected, Hyundai still has a lot of growth potential.

Notable SME IPOs of 2024

Small and medium-sized companies (SMEs) had strong IPOs in 2024. Many of them attracted high investor demand. Here are the top five:

1. Refractory Shapes Ltd

The company makes durable products like bricks and castables for industries. Its IPO was launched at ₹139.9 and was one of the top in 2024, marking a 351.29% increase.

2. Medicamen Organics Ltd

The company makes pharmaceutical products and sells them in both local and international markets, using WHO-GMP-certified facilities. It listed at ₹127.5, a 275% gain from its issue price of ₹34.

3. Divine Power Energy Ltd

This company manufactures and supplies copper and aluminium wire and strips for electrical systems across various industries. Its IPO debuted at ₹130.65, gaining 226.63% from its issue price of ₹40.

4. HOAC Foods India Ltd

HOAC Foods India’s IPO debuted at ₹156, a 225% gain, but now trades at ₹135, down to 13.46%. It sells health-focused food products under the "HARIOM" brand, mainly in Delhi-NCR.

5. Maxposure Ltd

Maxposure was listed at ₹105.95, a 221.06% gain from its issue price of ₹33. The company provides media and entertainment services for the aviation industry. They offer inflight entertainment and content marketing as well.

Top 3 sectors that drove IPO success in 2024

Some industries saw more IPO success than others. Here are the industries that did well in 2024.

1. Healthcare

In 2024, healthcare was one of the strongest sectors for IPOs. The strong growth in healthcare came from the increasing need for new medical solutions and the move to online health services.

Companies making medical tools, new treatments, and offering online health services grew quickly because they helped solve real health problems.

2. Consumer goods

The consumer goods sector has grown quickly as people look for more comfort and ease. Services like subscriptions and online shopping are in higher demand. Direct-to-consumer brands have done well, offering more convenience and choices that fit personal needs.

3. Financial services

As more people manage their own money, they want financial services that are simple and easy to use. Because of this, investors are focusing on companies that make banking, payments, and loans easier for everyone.

Fintech companies, which use technology to make financial tasks easier, did well in their IPOs.

Top 3 lessons learnt from the IPO market in 2024

A lot of investors gained valuable insights from the IPO market. These lessons can help you make better choices in the market. Here are the top 3 lessons to keep in mind:

1. Market timing matters

Right timing is very important in the market. A company that launches when investor confidence is high and favourable economic conditions will attract more interest. This will also lead to higher stock prices.

2. Financials and fundamentals win

Investors don’t just follow trends. They look at a company’s revenue, profit margins, and future growth before investing. In 2024, companies with clear business plans and strong financials did better.

A company with stable finances earns investor trust. This helps its stock grow steadily after listing.

3. Industry trends shape demand

Some industries catch the attention of more investors than others. In 2024, companies in fast-growing areas like AI and fintech were the most popular. Investors like to put their money into businesses that have the chance to grow over the long term.

Looking ahead: IPO expectations for 2025

Companies used to launch IPOs when the market was stable and investors felt good about things. Experts think this will happen again in 2025.

Investors want to back businesses that have strong potential for growth in the future, such as clean energy and AI. Many new startups are getting ready to launch their IPOs, and investors have high expectations for these companies.

As rules around IPOs become clearer and more money flows into the market, 2025 could bring good investment opportunities.

Wrapping up

The IPO market in 2024 showed how important timing and solid business plans are. Companies that entered at the right time, with strong financials and a focus on key trends, performed the best.

As we look to 2025, sectors like tech and clean energy are expected to keep growing. With clearer rules and more investor confidence, the year may present interesting prospects.

GrowthJockey as a Venture Architect offers data-driven solutions to help businesses make better decisions and realise their full potential. We use specialised techniques to help firms stay on top of market changes.

FAQs

1. What is the IPO activity in 2024?

Many industries saw a rise in IPOs, with both big and small companies entering the stock market. Investors showed strong interest in tech, finance, and infrastructure. SME IPOs also gained attention, bringing new investment opportunities.

2. What do you need to know about IPOs?

A successful IPO depends on market timing, strong financials, and investor interest. Before investing, it’s important to research the company’s business model, past performance, and industry trends to make informed decisions.

3. What are the top IPOs expected in 2025?

Analysts predict that tech, fintech, and clean energy will see major IPOs in 2025. Companies in AI, digital payments, and renewable energy are expected to attract strong investor demand.