India Leads Global IPO Activity: NSE Tops with 268 Listings Worth USD 19.5 Bn India's NSE dominated global IPO activity in 2024, with 268 listings raising USD 19.5 billion, surpassing Japan, Hong Kong, Shanghai, NASDAQ, and NYSE, cementing its leadership in capital markets and investor confidence.
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The National Stock Exchange of India (NSE) announced that it has achieved a remarkable milestone by facilitating 268 successful Initial Public Offerings (IPOs) in the calendar year 2024, comprising 90 Main Board listings and 178 SME listings.
Collectively, these IPOs raised an impressive INR 1.67 lakh crores (USD 19.5 billion), setting a new record for the highest number of IPOs in a single calendar year. This achievement underscores the growing confidence of investors in India's capital markets.
Globally, there were 1,145 IPOs in 2024, a slight decrease from the 1,271 IPOs in 2023. Despite the global decline, India emerged as a leader, with NSE facilitating the largest number of IPOs among all stock exchanges worldwide. Notably, the fundraise included the largest IPO in India's history and the second-largest globally, the USD 3.3 billion IPO of Hyundai Motor India Ltd. On the Main Board, 90 companies raised INR 1.59 lakh crore (USD 18.57 billion), while 178 SMEs collectively raised approximately INR 7,349 crore (USD 0.86 billion).
Shri Sriram Krishnan, Chief Business Development Officer (CBDO) of NSE, commented, "The record number of IPOs during this calendar year highlights the resilience and potential of the Indian economy. Companies across various sectors are recognising the value of public markets to support their growth strategies. The data also indicates that NSE has facilitated more IPOs than the combined total of other leading exchanges in Asia, including Japan's Japan Exchange Group, Hong Kong's Stock Exchange, and China's Shanghai Stock Exchange. Furthermore, NSE has enabled the highest amount of funds raised through IPOs in 2024, surpassing even global exchanges like the NYSE and Shanghai Stock Exchange."
Looking forward, NSE remains committed to strengthening its platform for higher capital raising and supporting businesses at various stages of their growth journey.
The National Stock Exchange of India, established in 1994, was the first in the country to introduce electronic or screen-based trading. It has consistently ranked as India's largest stock exchange in terms of total and average daily turnover for equity shares since 1995. NSE's integrated business model includes exchange listings, trading services, clearing and settlement services, indices, market data feeds, technology solutions, and financial education offerings.
NSE is also a pioneer in technology and innovation, ensuring the reliability and efficiency of its systems. The exchange is the world's largest derivatives exchange by trading volume (contracts) as per the Futures Industry Association (FIA) in 2023 and ranks third globally in equity trading by the number of electronic order book trades, according to the World Federation of Exchanges (WFE).
Over the past 30 years, NSE's market capitalisation has grown 114 times, from INR 4 lakh crore to INR 438.9 lakh crore (USD 5.13 trillion). With nearly 11 crore unique registered investors and over 20 crore accounts from 99.8% of India's PIN codes, NSE continues to play a pivotal role in shaping India's financial ecosystem.
