New-age tech IPOs make a comeback after three-year lull; raise Rs 15,000 crore in 2024: report

The stock market has seen frenetic activity for new-age companies this year, after a hiatus of three years. The year 2024 has been the best for fundraising via public listing since 2021, with Rs 15,000 crore being racked up on the bourses, The Times of India reported, citing data from the Prime Database.

The year saw six major initial public offerings (IPOs), including Ola Electric and Firstcry, raising Rs 14,571 crore. In 2021, the first cohort of startups hit the markets, including Zomato, Paytm and Nykaa. Seven such startups had together raised Rs 42,826 crore through IPOs that year. Since 2019, 21 new-age companies have together raised Rs 67,515 crore through IPOs, the report said.