NEW DELHI — India emerged as the global leader in initial public offerings
(IPOs) activity in 2024, accounting for 23 per cent of all public issues
worldwide, a new report said on Sunday.
India also raised the highest amount of money through IPOs,
collecting $19.5 billion, as per the Indus Valley Annual Report 2025.
It was followed by IPOs listed on the US Nasdaq, which
raised $16.5 billion, and those listed on the New York Stock Exchange (NYSE),
which raised $15.9 billion.
The country saw 268 IPOs, including 90 mainboard listings
and 178 SME listings.
One of the biggest offerings of the year was the Rs
27,870-crore IPO of Hyundai Motors, which became India's largest IPO and the
world's second-largest IPO in 2024.
Venture capitalists have shown increasing interest in the
Indian IPO market as several major companies have gone public with venture
funding this year.
The report added that the funds raised by venture-backed
IPOs after 2021 have more than doubled compared to the total amount raised by
all venture-backed IPOs before 2021.
The SME sector has also seen significant growth in IPOs.
Since 2012, the median market capitalisation of SME IPOs has increased 4.5
times, reaching nearly Rs 100 crore in 2024.
Additionally, the median revenue of SMEs at the time of IPO
has tripled -- to reach Rs 70 crore.
India's quick commerce sector has witnessed explosive
growth, surging from $300 million in FY22 to an estimated $7.1 billion in FY25,
the report said.
This rapid expansion was due to shifting consumer
preferences toward instant deliveries, driven by increased internet
penetration, changing lifestyles, and growing competition among platforms.
However, the report noted a decline in the median market
capitalisation of companies going public.
This has been a trend for the past three years. In 2021, the
median market cap was Rs 3,800 crore, which dropped to Rs 3,000 crore in 2022
and further fell to Rs 2,770 crore in 2023.
