Thirteen Indian startups and tech companies made their first public offerings (IPOs) in 2024, setting a new record for the industry. Compared to prior years, when the numbers were 6 in 2023, 6 in 2022, and 10 in 2021, this represents a notable increase. By 2025, about half of the startups that have announced plans to go public will still be going strong.

Including fintech, SaaS, logistics, proptech, EVs, e-commerce, foodtech, and traveltech, there will be 13 initial public offerings (IPOs) in 2024. All together, these businesses raised a total of Rs. 29,247.4 crore, of which Rs. 14,672.9 crore ($1.75 billion) came from new share offerings and Rs. 14574.5 crore ($1.73 billion) from offer for sale (OFS) transactions.

Swiggy (Rs. 11,327.43 crore), FirstCry (Rs. 4,193.73 crore), Ola Electric (Rs. 6,145.56 crore), Digit Insurance (Rs. 2,614.65 crore), and TBO Tek (Rs. 1,550.81 crore) were the largest initial public offerings (IPOs).

In terms of SME funding, Menhood, TAC Security, and Trust Fintech raised a combined total of Rs. 19.46 crore, Rs. 29.99 crore, and Rs. 63.45 crore.

As a result of their need for growth capital, MobiKwik raised the entire amount through a new issue, followed by Ola Electric, BlackBuck, and Digit Insurance.
A significant OFS component was present in Unicommerce, Ixigo, Awfis, TBO Tek, Swiggy, and FirstCry, showcasing shareholder exits.

With 168.39 times subscriptions among main board IPOs, Unicommerce saw the highest demand from investors, ahead of MobiKwik (119.38 times), Awfis (108.56 times), Ixigo (98.34 times), and TBO Tek (86.7 times).