India Dominates Global IPO Scene: 5,450 Mainboard Listings in H1 2024, Capturing 25% of Global IPO Volume Amid Domestic Inflows

In the first half of 2024, India saw the highest number of mainboard-listed companies globally, with over 5,450 listings, making up 25% of all global IPO listings. While the global IPO market reached its peak in 2021, India continues to see strong demand and investment, especially in emerging sectors, according to a report from Angel One Wealth.

Globally, 2021 was a standout year for IPOs, with 2,388 companies raising $453.3 billion—the highest in the past 20 years. The report also noted that 178 companies in India filed for IPOs during this period, followed by China with 103, the US with 21, and the UK with 22.

India’s BSE IPO index showed impressive performance, gaining 348%, far outpacing the BSE 500 index’s 165% increase, thanks to strong listing gains.

Small and Medium Enterprise (SME) IPOs performed exceptionally well. The average listing gains for SMEs jumped from 2% in 2019 to 74% in 2024, while the gains for mainboard IPOs peaked in 2020 and have remained steady at around 30%.

Retail, consumer products, industrial products, financial services, and healthcare sectors have all made good use of IPOs to raise capital.

A report by SEBI (Securities and Exchange Board of India) showed that investors were more likely to sell IPO shares that had positive listing gains than those with losses. SEBI’s study, which looked at 144 IPOs listed between April 2021 and December 2023, found that listing gains strongly influenced investors’ trading behaviour.