New Delhi: India has taken the top spot in global IPO activity in 2024, accounting for 23% of all public issues worldwide. According to the Indus Valley Annual Report 2025, India also raised the highest amount of money through IPOs, collecting $19.5 billion.
India was followed by the US Nasdaq, which raised $16.5 billion through IPOs and the New York Stock Exchange (NYSE), which raised $15.9 billion.
The country saw 268 IPOs, including 90 mainboard listings and 178 SME listings.
A notable highlight was the massive Rs 27,870-crore IPO of Hyundai Motors, which not only became India's largest IPO but also the world's second-largest IPO in 2024.
Venture capitalists are increasingly betting on the Indian IPO market, with several major companies going public with venture funding this year. 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 seen impressive growth, with IPOs showing significant gains since 2012. Notably, the median market capitalization of SME IPOs has surged 4.5 times to nearly Rs 100 crore in 2024, while the median revenue of SMEs at the time of IPO has tripled to 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.
(with inputs from IANS)