Mumbai, Jan 3
The Indian stock market witnessed an initial public offering (IPO) boom in 2024 as compared to any other global stock exchange, with the National Stock Exchange's (NSE) Rs 1.67 lakh crore ($19.5 billion) capital raised through them becoming the highest in the world, according to a report by the exchange on Friday.
The 268 successful IPOs across mainboard (90) and SME (178) raised Rs 1.67 lakh crore, and were also the highest number of IPOs within Asia.
The 268 IPOs are also the highest figure of public issues recorded ever in India, demonstrating the growing confidence of investors in the capital markets.
It includes the largest IPO in India and the second largest IPO globally of $3.3 billion of Hyundai Motor India Ltd (HMIL).
While 90 mainboard companies (excluding REiTS, InVITS, and FPOs) raised over Rs 1.59 lakh crore, 178 SMEs collectively raised around Rs 7,349 crore, the report stated.
"The record number of IPOs during 2024 highlights the resilience and potential of the Indian economy. Companies across various sectors are recognising the value of public markets to support their growth strategies," said Sriram Krishnan, Chief Business Development Officer (CBDO), NSE.
In fact, the data suggests that NSE has alone done more IPOs than other top exchanges in Asia which includes the IPOs Japan's (Japan Exchange Group), Hong Kong's (Hong Kong Stock Exchange), and China's (Shanghai Stock Exchange) have done cumulatively.
The capital raised by the companies via the New York Stock Exchange (NYSE) was $15.9 billion and the Shanghai Stock Exchange was $8.8 billion.
China's Shangai Stock Exchange recorded 101 public issues while Japan and Hong Kong's stock exchanges witnessed 93 and 66 IPOs, respectively.
In 2024, there were a total of 1,145 IPOs raised globally compared to 1,271 in the year before.