From Swiggy to Ola Electrical: Top 5 IPOs to watch out for in 2024

The Indian market has seen a historic year with mega initial public offerings (IPO) Mankind and Tata Technologies making a major splash. However, it is expected that IPO listings in the year 2024 can be even more lucrative for investors.

Swiggy and Ola Electrical are planning to file their IPO papers in December 2023. (File)

This year, the benchmark Sensex rose over 17 percent, crossing the 71,000 point mark in December 2023. Meanwhile, NSE Nifty crossed the 21,000 mark, mostly owing the market spike to major IT companies like Wipro and TCS.

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India’s share of global IPO proceeds is at an all-time high of 5.98%, Dealogic says, almost doubling in two years, while its share of Asia IPO proceeds has also grown to 9.9% this year from 5.9% in 2018, reported Reuters.

While the most major listings across India this year – Mankind Pharma, Nexus Malls and Tata Technologies – raised around $1.5 billion, here are the top five IPOs to watch out for in 2024, that are set to have a major impact on the market.

Top 5 IPOs to watch out for in 2024


SoftBank-backed Swiggy is expected to launch it’s IPO in the early months of 2024, expected to raise around $500 million through the issue. Through the IPO, investor SoftBank is aiming to reduce its shares in the company.


Pune-based startup and childcare online platform FirstCry is expected to launch its IPO in 2024, likely after the results of the 2024 Lok Sabha elections. FirstCry is also aiming to raise around $500-600 million through its issue.

Ola Electrical

Electric vehicle startup Ola Electrical is planning to launch its IPO in January or February of 2024. Ola Electrical is planning to raise around $400 million, with the aim of setting up its first factory in Tamil Nadu with the funds.


Oyo’s draft paperwork for the IPO has already been pre-filed and it is expected that the IPO will be launched in mid-2024, reported to Inc42. The Oyo IPO is expected to raise around $400 million.

Portea Medical

Healthcare startup Portea Medical had recieved its IPO approval by SEBI in early 2023, and the company plans to raise 1000 crore through the issue. It is expected that the IPO will be launched in the first quarter of 2024.

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