In a historic first, India surged to the top of the global IPO rankings in 2024, claiming the number one spot by IPO volume. With a record-breaking 337 issues (including both mainline and SME), India outpaced the United States (183 issues) and Europe, achieving more than twice the number of listings. This remarkable milestone highlights India’s growing prominence in the global financial landscape.
According to the recently released EY Global IPO Trends 2024 report, India raised $19.9 billion through IPOs—the highest volume in over two decades. Driving this success were sectors like technology, media, telecom (TMT), industrials, and consumer goods, which globally dominated public offerings with a 60% combined share.
India’s rise is attributed to strong economic growth, a supportive regulatory framework, and a thriving investor-friendly environment. In a year marked by geopolitical shifts and economic realignments, India emerged as a beacon for IPO activity while other markets struggled to keep pace.
The United States reclaimed its position as the leader in IPO proceeds, raising $32.8 billion in 2024—the highest since the 2021 boom. The U.S. also remained the top destination for international listings, with 101 deals accounting for 89% of such transactions.
In contrast, China’s IPO activity hit its lowest point in a decade due to tightened regulations, while Hong Kong rebounded with more local and overseas listings. Meanwhile, Malaysia posted a 19-year high in IPO activity, bolstered by favorable valuations and economic policies.
Globally, IPO markets witnessed a total of 1,215 issues, raising $121.2 billion. Private equity (PE) and venture capital (VC) firms played a pivotal role, contributing 46% of global IPO proceeds through portfolio company listings.
As per the report, the TMT sector is poised to lead the IPO wave in 2025, followed by industrials and health & life sciences. For India, the challenge will be to sustain its newfound dominance, leveraging innovation, economic stability, and investor confidence to continue attracting global and domestic capital.
With 2024 setting the stage, India’s capital markets are proving to be a powerhouse, cementing their place on the global map. Whether this momentum will carry into 2025 is a question the world will watch with bated breath.
Disclaimer: This blog has been written exclusively for educational purposes.
Published on: Jan 27, 2025, 11:06 AM IST
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