India's IPO market thrives in 2024 with over $9 billion raised

India's IPO market has seen significant growth in 2024, with over 260 companies raising more than $9 billion, doubling last year's figures. The third quarter alone had 27 main market IPOs, a 29% increase from the previous year. Since Diwali 2023, about 12 IPOs have maintained high premiums, each exceeding 100%. The Indian Renewable Energy Development Agency Ltd (IREDA) leads this group, followed by Motisons Jewellers Ltd and DOMS Industries Ltd. However, many stocks have seen corrections from their peaks. The strong performance in the IPO market is attributed to a supportive economic environment. Interest rates are expected to decrease, encouraging more companies to go public. In Q3 2024, 68 companies filed for IPOs, indicating continued momentum in the market.