The Indian stock market saw an IPO boom in 2024 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 in 2024 reflects the Indian economy's strength and resilience. Companies in diverse sectors have finally begun to understand that public markets offer them immense growth opportunities, as stated by Sriram Krishnan, Chief Business Development Officer (CBDO), NSE.
In fact, the data shows that NSE has done more IPOs alone 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 amount of capital raised by the companies through the New York Stock Exchange (NYSE) was $15.9 billion and the Shanghai Stock Exchange was $8.8 billion.
Shanghai Stock Exchange in China held 101 public issues during this period, while Japan and Hong Kong's stock exchanges experienced 93 and 66 IPOs, respectively.
The number of IPOs raised worldwide was 1,145 during 2024, while it was 1,271 in the previous year.
Read also| White-Collar Hiring in India Rises 9% in December, AI and ML Roles in High Demand
Read also| Indian Stock Market Opens Flat, Nifty Holds Above 23,700
