NSE Emerges As Asia's IPO Capital With Record Number Of Public Issues In 2024

The year 2024 was a record year for primary markets in India. The NSE emerged as Asia’s IPO capital in terms of the total number of public issues as 268 companies successfully raised a whopping Rs 1.67 lakh crore.

Globally, as many as 1145 companies raised money via public issues compared to 1,271 in 2023. Even as the number of IPOs floated globally in 2024 was relatively less compared to 2023, as many as 90 mainboard and 178 SME were floated in the Indian primary market.

Data from the NSE revealed that Indian primary markets saw more public issues in 2024 than the combined number of public issues in Japan, Hong Kong and China which stood at 260. Among the 260 public issues in these three markets, 101 IPOs were floated in China on the Shanghai Stock Exchange, 93 on the Japan Exchange Group and 66 on the Hong Kong Stock Exchange.

In terms of the money raised via public issues, NSE raked up $19.5 billion, the highest amount globally. Other global exchanges such as NASDAQ and NYSE raised $16.5 billion and $15.9, respectively. The Hong Kong Stock Exchange saw a fundraise of $10.4 billion and the Shanghai Stock Exchange saw a fundraise of $8.8 billion.

Out of the total Rs 1.67 lakh crores ($19.5 billion) raised in the Indian primary market in 2024,  90 companies listed on the mainboard, raised over Rs 1.59 lakh crore ($18.57 billon) and 178 SMEs raised around Rs 7,349 crore ($0.86 billon).

The record high fundraise and large number of public issues seen in 2024 have set a record in the history of the Indian primary markets. The record high growth indicates the growing confidence of investors in India's capital markets.

Sriram Krishnan, Chief Business Development Officer (CBDO), NSE said in a release that the record high number of public issues seen in CY 2024 shows the resilience and the potential of the Indian economy.

"The record number of IPOs during this calendar year highlights the resilience and potential of the Indian economy. Companies across various sectors are recognizing the value of public markets to support their growth strategies. Infact, the data suggests that NSE has alone done a greater number of 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. Further NSE has facilitated the highest amount of Fund raise through IPOs in CY2024 of $17.3 Bn vis a vis other Global exchanges like NYSE of $ 15.9 bn, and Shanghai Stock Exchange $ 8.8 Bn,” Krishnan said in a release.