Record number of realty IPOs hit the market this year

Bengaluru: This year witnessed a record-breaking number of real estate initial public offerings (IPOs), which till now have raised nearly Rs 13,500 crore from the markets, almost double the amount raised in 2023, said professional services and investment management company Colliers on Tuesday.

Out of 123 total IPO listings in 2024, there have been 7 real estate ones so far. Over 90 per cent of the real estate IPOs listed in 2024 have been oversubscribed.

Since 2021, the stock market witnessed 21 real estate IPOs raising Rs 31,900 crore, up from 11 listings in the previous four years (2017-2020), that logged less than half of the funds picked in the post-pandemic era.

Traction in IPOs in real estate is largely led by housing finance institutions, which attracted 46 per cent of the capital raised during 2021-24, followed by real estate investment trusts (REITs), at 22 per cent share. After this comes real estate developers at 17 per cent share.