Indian IPO market soars to $17.3 bn so far in 2024, nearing record highs

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Initial Public Offerings (IPOs) from Indian companies raised $17.3 billion so far this year, almost three-times higher in proceeds compared to the same period last year, latest data from LSEG Deals Intelligence showed.

This also marks the highest annual total since 2021 ($18 billion). Meanwhile, the number of IPOs so far this calendar year stood at 304, up 46 per cent from a year ago – the busiest year since the IPO frenzy during the mid-90s.

In January-December 4 last year, the total IPO mop up in value terms by Indian companies stood at $6.3 billion.

Elaine Tan, Senior Manager at LSEG Deals Intelligence, said “Despite a global slowdown in IPO activity, India has seen a breakout year in 2024, driven by strong investor demand, a thriving economic landscape, and successful high-profile listings”.

In 2024, India has established itself as a dominant player in the global IPO markets, with IPO listings in Indian exchanges accounting for 17.1 per cent of the Global IPO proceeds, second to the US (30.3 per cent market share). IPO listings in China, which took the lead in 2023, fell to third place with 6.7 per cent market share, Tan added.

In 2024 so far, industrials accounted for lion’s share of IPO fund raise with market share of 37 per cent ($ 6.4 billion), followed by Energy and Power at 15.12 per cent ($2.61 billion); Financials at 11.93 per cent ($2.06) and High Technology at 9.21 per cent ($1.59 billion).

M&A Activity

Deal making involving India totalled $70.5 billion, a 18 per cent decline from $86.55 billion a year ago, while number of announced deals fell 5 percent year-on-year.

Several factors have contributed to uncertainty in the broader economic, regulatory, and geopolitical landscape, leading companies to adopt a cautious approach to M&A and resulting to an overall slowdown in activity, Tan said,

While global M&A activity has seen a modest recovery with a 10 per cent increase in deal value, the number of announced M&A deals fell 20 per cent year over year. Asia Pacific-involvement M&A activity fell 2 per cent by value compared to a year ago, down to an eleven-year low alongside a 14 per cent decline in deal count.

Indian-involvement deals targeting Industrials clocked 13.2 per cent market share despite a 32.8 per cent decline in deal value. Healthcare followed closely with 13.1 per cent market share as deal value increased 52.2 per cent from a year earlier. At least four of the top ten deals involving India are in the healthcare sector driven by rising demand, and innovation in healthcare technology, Tan added.

Technology, Media & Entertainment, and Telecommunications (TMT) accounted for 25 per cent of the deal value so far this year, amounting to $17.8 billion, up 47 per cent from a year ago.

“The shift towards digital platforms, increasing demand for digital infrastructure are driving companies to enhance their capabilities to compete more effectively”, she added.

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Initial Public Offerings (IPOs) from Indian companies raised $17.3 billion so far this year, almost three-times higher in proceeds compared to the same period last year, latest data from LSEG Deals Intelligence showed.

This also marks the highest annual total since 2021 ($18 billion). Meanwhile, the number of IPOs so far this calendar year stood at 304, up 46 per cent from a year ago – the busiest year since the IPO frenzy during the mid-90s.

In January-December 4 last year, the total IPO mop up in value terms by Indian companies stood at $6.3 billion.

Elaine Tan, Senior Manager at LSEG Deals Intelligence, said “Despite a global slowdown in IPO activity, India has seen a breakout year in 2024, driven by strong investor demand, a thriving economic landscape, and successful high-profile listings”.

In 2024, India has established itself as a dominant player in the global IPO markets, with IPO listings in Indian exchanges accounting for 17.1 per cent of the Global IPO proceeds, second to the US (30.3 per cent market share). IPO listings in China, which took the lead in 2023, fell to third place with 6.7 per cent market share, Tan added.

In 2024 so far, industrials accounted for lion’s share of IPO fund raise with market share of 37 per cent ($ 6.4 billion), followed by Energy and Power at 15.12 per cent ($2.61 billion); Financials at 11.93 per cent ($2.06) and High Technology at 9.21 per cent ($1.59 billion).

M&A Activity

Deal making involving India totalled $70.5 billion, a 18 per cent decline from $86.55 billion a year ago, while number of announced deals fell 5 percent year-on-year.

Several factors have contributed to uncertainty in the broader economic, regulatory, and geopolitical landscape, leading companies to adopt a cautious approach to M&A and resulting to an overall slowdown in activity, Tan said,

While global M&A activity has seen a modest recovery with a 10 per cent increase in deal value, the number of announced M&A deals fell 20 per cent year over year. Asia Pacific-involvement M&A activity fell 2 per cent by value compared to a year ago, down to an eleven-year low alongside a 14 per cent decline in deal count.

Indian-involvement deals targeting Industrials clocked 13.2 per cent market share despite a 32.8 per cent decline in deal value. Healthcare followed closely with 13.1 per cent market share as deal value increased 52.2 per cent from a year earlier. At least four of the top ten deals involving India are in the healthcare sector driven by rising demand, and innovation in healthcare technology, Tan added.

Technology, Media & Entertainment, and Telecommunications (TMT) accounted for 25 per cent of the deal value so far this year, amounting to $17.8 billion, up 47 per cent from a year ago.

“The shift towards digital platforms, increasing demand for digital infrastructure are driving companies to enhance their capabilities to compete more effectively”, she added.

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Initial Public Offerings (IPOs) from Indian companies raised $17.3 billion so far this year, almost three-times higher in proceeds compared to the same period last year, latest data from LSEG Deals Intelligence showed.

This also marks the highest annual total since 2021 ($18 billion). Meanwhile, the number of IPOs so far this calendar year stood at 304, up 46 per cent from a year ago – the busiest year since the IPO frenzy during the mid-90s.

In January-December 4 last year, the total IPO mop up in value terms by Indian companies stood at $6.3 billion.

Elaine Tan, Senior Manager at LSEG Deals Intelligence, said “Despite a global slowdown in IPO activity, India has seen a breakout year in 2024, driven by strong investor demand, a thriving economic landscape, and successful high-profile listings”.

In 2024, India has established itself as a dominant player in the global IPO markets, with IPO listings in Indian exchanges accounting for 17.1 per cent of the Global IPO proceeds, second to the US (30.3 per cent market share). IPO listings in China, which took the lead in 2023, fell to third place with 6.7 per cent market share, Tan added.

In 2024 so far, industrials accounted for lion’s share of IPO fund raise with market share of 37 per cent ($ 6.4 billion), followed by Energy and Power at 15.12 per cent ($2.61 billion); Financials at 11.93 per cent ($2.06) and High Technology at 9.21 per cent ($1.59 billion).

M&A Activity

Deal making involving India totalled $70.5 billion, a 18 per cent decline from $86.55 billion a year ago, while number of announced deals fell 5 percent year-on-year.

Several factors have contributed to uncertainty in the broader economic, regulatory, and geopolitical landscape, leading companies to adopt a cautious approach to M&A and resulting to an overall slowdown in activity, Tan said,

While global M&A activity has seen a modest recovery with a 10 per cent increase in deal value, the number of announced M&A deals fell 20 per cent year over year. Asia Pacific-involvement M&A activity fell 2 per cent by value compared to a year ago, down to an eleven-year low alongside a 14 per cent decline in deal count.

Indian-involvement deals targeting Industrials clocked 13.2 per cent market share despite a 32.8 per cent decline in deal value. Healthcare followed closely with 13.1 per cent market share as deal value increased 52.2 per cent from a year earlier. At least four of the top ten deals involving India are in the healthcare sector driven by rising demand, and innovation in healthcare technology, Tan added.

Technology, Media & Entertainment, and Telecommunications (TMT) accounted for 25 per cent of the deal value so far this year, amounting to $17.8 billion, up 47 per cent from a year ago.

“The shift towards digital platforms, increasing demand for digital infrastructure are driving companies to enhance their capabilities to compete more effectively”, she added.

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Initial Public Offerings (IPOs) from Indian companies raised $17.3 billion so far this year, almost three-times higher in proceeds compared to the same period last year, latest data from LSEG Deals Intelligence showed.

This also marks the highest annual total since 2021 ($18 billion). Meanwhile, the number of IPOs so far this calendar year stood at 304, up 46 per cent from a year ago – the busiest year since the IPO frenzy during the mid-90s.

In January-December 4 last year, the total IPO mop up in value terms by Indian companies stood at $6.3 billion.

Elaine Tan, Senior Manager at LSEG Deals Intelligence, said “Despite a global slowdown in IPO activity, India has seen a breakout year in 2024, driven by strong investor demand, a thriving economic landscape, and successful high-profile listings”.

In 2024, India has established itself as a dominant player in the global IPO markets, with IPO listings in Indian exchanges accounting for 17.1 per cent of the Global IPO proceeds, second to the US (30.3 per cent market share). IPO listings in China, which took the lead in 2023, fell to third place with 6.7 per cent market share, Tan added.

In 2024 so far, industrials accounted for lion’s share of IPO fund raise with market share of 37 per cent ($ 6.4 billion), followed by Energy and Power at 15.12 per cent ($2.61 billion); Financials at 11.93 per cent ($2.06) and High Technology at 9.21 per cent ($1.59 billion).

M&A Activity

Deal making involving India totalled $70.5 billion, a 18 per cent decline from $86.55 billion a year ago, while number of announced deals fell 5 percent year-on-year.

Several factors have contributed to uncertainty in the broader economic, regulatory, and geopolitical landscape, leading companies to adopt a cautious approach to M&A and resulting to an overall slowdown in activity, Tan said,

While global M&A activity has seen a modest recovery with a 10 per cent increase in deal value, the number of announced M&A deals fell 20 per cent year over year. Asia Pacific-involvement M&A activity fell 2 per cent by value compared to a year ago, down to an eleven-year low alongside a 14 per cent decline in deal count.

Indian-involvement deals targeting Industrials clocked 13.2 per cent market share despite a 32.8 per cent decline in deal value. Healthcare followed closely with 13.1 per cent market share as deal value increased 52.2 per cent from a year earlier. At least four of the top ten deals involving India are in the healthcare sector driven by rising demand, and innovation in healthcare technology, Tan added.

Technology, Media & Entertainment, and Telecommunications (TMT) accounted for 25 per cent of the deal value so far this year, amounting to $17.8 billion, up 47 per cent from a year ago.

“The shift towards digital platforms, increasing demand for digital infrastructure are driving companies to enhance their capabilities to compete more effectively”, she added.

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Initial Public Offerings (IPOs) from Indian companies raised $17.3 billion so far this year, almost three-times higher in proceeds compared to the same period last year, latest data from LSEG Deals Intelligence showed.

This also marks the highest annual total since 2021 ($18 billion). Meanwhile, the number of IPOs so far this calendar year stood at 304, up 46 per cent from a year ago – the busiest year since the IPO frenzy during the mid-90s.

In January-December 4 last year, the total IPO mop up in value terms by Indian companies stood at $6.3 billion.

Elaine Tan, Senior Manager at LSEG Deals Intelligence, said “Despite a global slowdown in IPO activity, India has seen a breakout year in 2024, driven by strong investor demand, a thriving economic landscape, and successful high-profile listings”.

In 2024, India has established itself as a dominant player in the global IPO markets, with IPO listings in Indian exchanges accounting for 17.1 per cent of the Global IPO proceeds, second to the US (30.3 per cent market share). IPO listings in China, which took the lead in 2023, fell to third place with 6.7 per cent market share, Tan added.

In 2024 so far, industrials accounted for lion’s share of IPO fund raise with market share of 37 per cent ($ 6.4 billion), followed by Energy and Power at 15.12 per cent ($2.61 billion); Financials at 11.93 per cent ($2.06) and High Technology at 9.21 per cent ($1.59 billion).

M&A Activity

Deal making involving India totalled $70.5 billion, a 18 per cent decline from $86.55 billion a year ago, while number of announced deals fell 5 percent year-on-year.

Several factors have contributed to uncertainty in the broader economic, regulatory, and geopolitical landscape, leading companies to adopt a cautious approach to M&A and resulting to an overall slowdown in activity, Tan said,

While global M&A activity has seen a modest recovery with a 10 per cent increase in deal value, the number of announced M&A deals fell 20 per cent year over year. Asia Pacific-involvement M&A activity fell 2 per cent by value compared to a year ago, down to an eleven-year low alongside a 14 per cent decline in deal count.

Indian-involvement deals targeting Industrials clocked 13.2 per cent market share despite a 32.8 per cent decline in deal value. Healthcare followed closely with 13.1 per cent market share as deal value increased 52.2 per cent from a year earlier. At least four of the top ten deals involving India are in the healthcare sector driven by rising demand, and innovation in healthcare technology, Tan added.

Technology, Media & Entertainment, and Telecommunications (TMT) accounted for 25 per cent of the deal value so far this year, amounting to $17.8 billion, up 47 per cent from a year ago.

“The shift towards digital platforms, increasing demand for digital infrastructure are driving companies to enhance their capabilities to compete more effectively”, she added.

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What are the top performing sectors in India’s ​IPO market?

​ ## India’s IPO Market Soars to $17.3 ⁢Billion in 2024, Nearing Record Highs

India’s ​IPO market has witnessed a remarkable surge in ⁢2024, raising a staggering $17.3 billion in ‍proceeds, a nearly threefold increase compared to the same period in 2023, according to recent data from LSEG Deals Intelligence. This impressive figure also marks the highest annual total since 2021,⁢ when‍ the market reached ‍$18 billion.

The number of IPOs this year⁢ alone reached 304, representing a 46% rise from last ⁤year – the highest number since the mid-1990s IPO frenzy.

Elaine Tan, ⁤Senior⁢ Manager at LSEG Deals Intelligence, attributes this boom to various factors:⁣ “Despite a global ⁢slowdown in IPO‍ activity, India has seen a breakout year in 2024,‍ driven by strong investor ​demand, a⁣ thriving economic ⁤landscape, and successful high-profile‍ listings”.

India has solidified its role ⁣as a leading player in the global IPO markets, securing‌ a 17.1% share of global IPO proceeds, second only to ‌the US (30.3%). Notably, China,⁢ which led the global IPO market in 2023, has slipped to third place with a 6.7% share.

The industrial sector has emerged as the dominant force in Indian IPO fundraising, capturing 37%⁢ of ⁣the market ​share (equivalent to $6.4 billion). Energy and Power followed closely at 15.12% ($2.61 billion), followed by Financials at 11.93% ($2.06 billion), and High Technology at 9.21% ($1.59 billion).

**M&A Activity Shows Mixed Signals**

While IPOs are flourishing, ⁣M&A activity in India‌ tells⁤ a more ⁣subdued ‍story. Dealmaking involving India totaled⁤ $70.5 billion, reflecting an ⁤18% decline from $86.55 billion in the previous ‌year, and a 5% decrease in the number ‍of announced deals year-over-year.

Tan points to several factors contributing to this slowdown: “Several factors have contributed to uncertainty in the broader economic, regulatory, and geopolitical landscape, leading companies to adopt a cautious approach to M&A and resulting ⁤in an overall slowdown in activity”.

Globally, M&A activity has seen a‌ modest recovery, with a 10% ​increase in deal value, but the number​ of announced M&A deals fell 20% year over‌ year. ⁢Deals involving Asia ‍Pacific also⁣ saw⁢ a 2% decline in value compared to a year ago, marking an eleven-year ⁢low,⁣ along⁤ with a​ 14% decline in deal count.

However, certain sectors have shown resilience. Indian-involvement deals targeting Industrials held a 13.2% market share despite a 32.8% decline in deal value. Healthcare, meanwhile, followed ⁤closely⁢ with a 13.1% market share, demonstrating a 52.2% surge in deal ⁤value from ⁢the ⁤previous year.

Technology, Media & Entertainment,​ and Telecommunications (TMT) accounted for 25% of the deal ⁢value so far this year, reaching $17.8 billion – a remarkable 47%⁢ increase from a year ago. Tan notes that, “The shift towards digital platforms, increasing ‌demand for ‌digital infrastructure, are driving companies to enhance their capabilities to ‍compete more effectively”.

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