印度迎IPO狂潮，全民“股疯”，散户疯狂打新，298家公司扎堆上市

Core Insights - India's stock market is experiencing an unprecedented IPO boom, with 298 companies listed in the first ten months of the year, surpassing the total for all of 2023 [1][3] - Retail investor participation has surged, with the ease of the IPO application process leading to a threefold increase in enthusiasm, allowing even ordinary workers to earn significant returns [1][3] - Major players like Jio, owned by Asia's richest man Mukesh Ambani, are expected to join the IPO wave next year, further fueling market excitement [5] IPO Activity - The number of IPOs in India has reached a record high, with 298 companies going public in 2023, including new entrants in the renewable energy and technology sectors [3] - Companies are utilizing IPOs for various purposes, such as expanding production capacity in the renewable energy sector and raising funds for business expansion in the tech industry [11][12][14] Retail Investor Trends - The proportion of household savings directed towards the stock market has doubled from 2.5% in 2020 to 5% currently, driven by improved market performance and simplified application processes [7] - A significant portion of new retail investors is under 30 years old, with over 40% of IPO participants falling into this age group, indicating a shift in market demographics [9] Company Strategies - Renewable energy firms are primarily raising funds to expand capacity, with companies like Waaree Energies and NTPC Green Energy planning to use IPO proceeds for solar power projects [12] - Technology companies, such as Swiggy and Ather Energy, are seeking capital to enter new markets and enhance production capabilities, despite some not yet being profitable [14][16] Market Dynamics - A substantial portion of this IPO activity involves existing shareholders cashing out, with approximately two-thirds of new stock offerings being "offer for sale" transactions [19] - Foreign investment dynamics are mixed, with some companies like LG Electronics and Hyundai Motor listing their subsidiaries through "offer for sale" while foreign institutional investors have sold around $18 billion in Indian stocks this year [21]