Mumbai Sees Huge Investor Interest in IPOs

In a significant milestone for the Indian capital markets, three large IPOs that closed on Friday collectively attracted investor interest worth about Rs 2.2 lakh crore. The three companies - Vishal Mega Mart, Sai Life Sciences, and One Mobikwik - aimed to mobilize Rs 11,615 crore from the public, according to data from the exchanges.

The IPO for One Mobikwik, the tech-driven payments enabler, saw an overwhelming response, with demand nearly 120 times the offer size, making it the most subscribed Rs 500-crore-plus IPO of 2024. Retail investors were particularly active in this offering.

The Rs 8,000-crore offer for Vishal Mega Mart also witnessed strong investor demand, being subscribed a little over 27 times and garnering total demand worth Rs 1.6 lakh crore. Meanwhile, Sai Life Sciences' IPO, aiming to raise Rs 3,043 crore, was subscribed 10.3 times, with a demand worth Rs 21,881 crore.

So far in 2024, IPOs have mobilized nearly Rs 2 lakh crore, marking the biggest grossing year for such offers. This surpasses the nearly Rs 1.2 lakh crore raised in 2021 through 63 IPOs, as per data from Chittorgarh.