New Delhi: India witnessed a remarkable surge in IPO activity, recording 227 listings with a collective deal value of $12.2 billion during the initial eight months of 2024. This represents a nearly threefold increase from the $4.3 billion raised in the corresponding period of 2023, as reported by GlobalData.
India emerged as a prominent leader within the Asia-Pacific (APAC) region, significantly contributing to the overall success of IPOs.
During the same period, the Asia-Pacific (APAC) market experienced a notable surge in IPO activity, culminating in 575 listings that collectively raised a staggering USD 23.7 billion.
This marked a 15.6 per cent growth in IPO proceeds compared to the previous year, highlighting the robustness of the region's capital markets.
The initial public offering (IPO) market in the Asia-Pacific (APAC) region has demonstrated resilience, maintaining its upward trajectory despite facing challenges such as inflationary pressures and geopolitical tensions.
Murthy Grandhi, an Analyst specializing in Company Profiles at GlobalData, emphasized the exceptional growth of India's IPO market, stating, "The Indian IPO market witnessed an exceptional surge in the first eight months of 2024, with proceeds nearly tripling to USD 12.2 billion, compared to USD 4.3 billion during the same period in 2023. This significant increase underscores India's robust capital market activity."
In terms of sectors, the technology and communications industry led the charge, with 105 transactions raising a total of USD 2.4 billion. The construction sector closely followed, securing 68 deals with an aggregate value of USD 2.2 billion. These sectors continue to attract investor interest, propelled by innovation, infrastructure development, and the growing demand for digital solutions throughout the region.
Notable IPOs during this period included South Korea's HD Hyundai Marine Solution Co Ltd, which raised USD 540 million, and India's Bharti Hexacom Ltd, which secured USD 795 million in its public offering.
Grandhi projected, "We anticipate a significant resurgence in IPO activity across the Asia-Pacific (APAC) region, driven by larger transactions and an accelerating momentum."
He further noted, "While certain APAC markets, including India, Japan, and parts of ASEAN, are experiencing bullish trends and robust capital inflows, others are grappling with liquidity constraints and valuation pressures, particularly in certain sectors within China."
