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19 Nov 2024
India’s equity market led the world in IPO activity during the first half of 2024, driven by robust domestic inflows, according to a report. The firm highlighted that more than 5,450 companies globally went public during this period, with India accounting for about 25% of these listings. This follows a strong performance in IPO listings in India last year, largely due to significant investments by domestic investors in emerging sectors and companies.
Globally, IPO markets peaked in 2021, with 2,388 companies raising a total of $453.3 billion, marking the highest amount raised through IPOs in two decades. The report also noted that India’s BSE IPO index gained 348% in absolute terms, significantly outperforming the BSE 500 index, which saw a 165% increase, mainly due to strong listing gains.
SME IPOs have also shown impressive growth, with average listing gains rising from 2% in 2019 to 74% in 2024. Mainboard IPOs saw their highest listing gains in 2020, stabilizing around 30% since then. A key factor behind the IPO surge is the positive returns in India’s stock market, with Nifty rising about 17% and Sensex approximately 16% in 2024, supported by the country’s strong economy. India’s GDP grew by 8.2% in FY 2023-24 and is projected to grow by 7.2% in the current financial year.
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