Synopsis
India has emerged as the leading nation in global IPO activity for 2024, capturing 23% of the total market share and raising over $19 billion, according to the Indus Valley Annual Report 2025. Notably, the SME sector and quick commerce have seen substantial growth, reflecting evolving consumer trends.Key Takeaways
- India leads global IPOs with 23% market share.
- Total funds raised: $19.5 billion.
- Notable IPOs include Hyundai Motors.
- Significant growth in SME sector IPOs.
- Quick commerce sector projected to reach $7.1 billion.
New Delhi, Feb 23 (NationPress) India has established itself as the foremost nation in the realm of initial public offerings (IPOs) in 2024, representing 23 percent of all global public issues, according to a recent report released on Sunday.
The nation has also successfully raised the largest funds through IPOs, amassing $19.5 billion, as highlighted in the Indus Valley Annual Report 2025.
Following India, the US Nasdaq saw IPOs generate $16.5 billion, while the New York Stock Exchange (NYSE) contributed $15.9 billion.
This year, India recorded a total of 268 IPOs, which included 90 mainboard listings and 178 SME listings.
Among the most significant offerings was the Rs 27,870-crore IPO of Hyundai Motors, marking it as India's largest IPO and the world's second-largest for 2024.
There has been a noticeable surge in interest from venture capitalists in the Indian IPO landscape, as numerous major firms have gone public with venture funding this year.
The report indicated that the funds acquired through venture-backed IPOs post-2021 have more than doubled compared to the total raised by all venture-backed IPOs prior to 2021.
Significantly, the SME sector has experienced remarkable growth in its IPOs. Since 2012, the median market capitalization of SME IPOs has surged 4.5 times, reaching nearly Rs 100 crore in 2024.
Furthermore, the median revenue of SMEs at the time of their IPO has tripled, achieving Rs 70 crore.
The quick commerce sector in India has also seen a staggering expansion, escalating from $300 million in FY22 to an estimated $7.1 billion by FY25, as noted in the report.
This rapid growth is attributed to evolving consumer preferences for instant deliveries, fueled by increased internet accessibility, shifting lifestyles, and growing competition among various platforms.
However, the report also highlighted a decline in the median market capitalization of companies going public.
This trend has persisted over the past three years. In 2021, the median market cap was Rs 3,800 crore, which diminished to Rs 3,000 crore in 2022 and further decreased to Rs 2,770 crore in 2023.
