India emerged as the top performer in the global IPO market during the first eight months of 2024, securing 227 listings with a total value of $12.2 billion, according to a report by GlobalData. The country’s strong IPO performance is attributed to favorable market conditions, robust investor demand, and positive market sentiment, driven by fear of missing out.
India’s IPO success was bolstered by both the SME and mainboard segments, with significant participation from local retail investors and institutions. The country outpaced global markets where IPO activity fell, although the overall deal value rose substantially.
Global IPO Landscape
Globally, 822 IPOs were recorded from January to August 2024, totaling $65 billion in deal value—a 17.4% increase from the $55.4 billion raised through 1,564 IPOs in 2023.
Murthy Grandhi, Company Profiles Analyst at GlobalData, noted that stabilizing macroeconomic conditions and renewed private equity and venture capital-backed listings contributed to the uptick in IPO activity.
Global Rankings and Sector Trends
The United States ranked second after India, with 133 IPOs raising $23.1 billion. China followed with 69 IPOs worth $5.3 billion.
The Asia-Pacific region led in IPO volume with 575 listings worth $23.7 billion, while North America topped deal value, generating $25.4 billion from 149 IPOs.
Sector-wise, technology and communications led the IPO market with 135 deals totaling $6.4 billion, followed by financial services with 113 IPOs worth $11.6 billion. Pharmaceuticals and healthcare also saw significant activity, raising $7 billion from 75 IPOs.
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