Last Year, IPO Funds Raised in Indian Stock Market Reach 28.5 Trillion Won
Renewable Energy Companies 'In Focus'... Seven Billionaires Emerged
Expectations are growing that the IPO boom, which continued in India last year, will persist through the first half of this year. With successful IPOs centered around renewable energy companies, seven new billionaires have emerged in India.
Bloomberg recently reported that the funds raised through IPOs in India alone last year reached a record high of 1.66 trillion rupees (approximately 28.5 trillion won). Over 300 companies, including Hyundai Motor India's subsidiary, were listed on the Indian stock market last year, surpassing China to become the number one in Asia.
Through this, seven new billionaires were born in India, many of whom own renewable energy companies, Bloomberg cited the billionaire index. This is because the Indian government has shown a willingness to invest in solar energy and other sectors, with forecasts suggesting an additional 100GW of solar energy production over the next four years.
In fact, Waaree Energies, India's largest solar PV module manufacturer, was valued at $10.6 billion during its IPO last year, with its owner Hitesh Doshi and family securing a net worth of $7.1 billion (as of the 16th of last month). Following this, Premier Energies (market value $7.3 billion), Ola Electric Mobility ($5 billion), and ACME Solar Holdings ($1.9 billion) also saw their founders and owners become billionaires through renewable energy-related businesses.
Bloomberg cited figures from Prime Database, a research firm based in India, reporting that 85 companies in India plan to pursue IPOs this year. The investment scale is expected to be around 1.53 trillion rupees.
Among the IPOs taking place in India this year, LG Electronics India is drawing attention. LG Electronics announced last month that it is pursuing an IPO for its Indian subsidiary to enhance corporate value and plans to decide on the final listing based on market conditions and preliminary demand forecasts. In addition, financial service companies and software companies are also preparing for IPOs one after another.
However, concerns have been raised about the need to respond to tariff policies of the second Donald Trump administration launching this month, declining corporate profits, reduced consumer spending, economic recession, and potential fluctuations in the rupee. Kunal Lambia, a fund manager at The Straits, a Mumbai-based fund company, told Bloomberg, "The IPO boom will continue through the first half of this year, but it is expected to slow down somewhat in the second half. Startups and technology companies may find it even more difficult to go public in the second half due to liquidity issues."
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