The Reserve Bank of India stated in its monthly bulletin that September is set to be the busiest month for IPOs mainboard and SME in 14 years, with over 28 companies entering the market so far. In the primary equity market, there is a surge of interest in small and medium enterprises (SMEs) initial public offerings (IPOs), including from domestic mutual funds, with massive oversubscriptions. 54 per cent of IPO shares allotted to investors were sold within a week of listing. RBI further noted that a growing number of listed companies are turning to qualified institutional placements for raising capital, estimated at around ₹60,000 crore in the first eight months of 2024. With intermittent corrections on global cues, benchmark indices in the secondary market have moved up, and the outlook remains bullish.
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