India’s real estate sector has witnessed record-breaking IPO activity in 2024, with a total of 123 listings as of October 20, exceeding last year’s count. These IPOs have raised an impressive Rs. 13,500 crore ($1.62 billion), nearly doubling 2023’s figures, fueled by strong economic optimism and ample market liquidity. This increase in IPOs reflects rising retail and institutional investor participation, which has boosted corporate earnings and reinforced market credibility.
Since 2010, the real estate sector has hosted 47 IPOs, collectively raising over Rs. 30,000 crore ($3.60 billion) in the post-pandemic recovery period. Driving this growth are factors like surging housing demand, expanding office leasing, and a boost in tourism, all of which have positively impacted market sentiment. The BSE Realty Index has gained over 30% year-to-date, outperforming the Sensex, with over 90% of this year’s IPOs seeing oversubscription.
Key industry players, such as Housing Finance Companies (HFCs) and Real Estate Investment Trusts (REITs), continue to shape the IPO landscape, particularly those focusing on Grade A properties. Additionally, expected reductions in lending rates may provide further momentum. Among the notable companies filing IPOs this year are Bajaj Housing Finance, Aadhar Housing Finance, and Juniper Hotels, indicating sustained investor confidence in India’s real estate market.
