Funding Highlights–August 2024

Optimistic IPO segment

Apart from the funding deals, IPO segment also showed an optimism. There are ten startups have gone public in the first eight months of 2024. First Cry, Unicommerce and Ola Electric are the notable startups completed their IPOs in August alone.

Known for its electric vehicles, Ola Electric’s IPO started on August 2 and closed on August 6. The company has raised Rs.6, 146 crore from various investors. A popular digital store for babies and kids products, formerly known as Brainbees solutions, Firstcry’s IPO started on August 6 and closed on August 8 by securing Rs.1,885.83 crore from Anchor investors. A key e-commerce solutions providing startup Unicommerce’ s IPO started on August 6 and closed on August 8 with the funding acquisition of Rs.124.46 crore. Meanwhile the following months of the current year also projected to make ripples across the funding landscape of Indian startup ecosystem. Startups like Bluestone and Swiggy also prepping themselves for public listings later in the ongoing year.

Pranav Haldea, Managing Director, PRIME Database says, “The momentum is being driven by the superlative demand seen in recent IPOs. In 2024-25 thus far, on average, IPOs have been oversubscribed by 48 times with the average gain on the listing being a staggering 35%. Thus, as we witnessed in the past, companies want to utilize this momentum to launch their IPOs, which explains the uptick in filings”.