India accounted for 22% of global IPOs, raised $2.8 bn in Jan-Mar: Report
The Indian IPO market has had a remarkable start to the year, with a significant 22% share of global IPO activity in the first quarter of 2025. According to EY’s Q1 2025 IPO Trends Report, India’s IPO market raised a staggering $2.8 billion during this period. This impressive performance has cemented India’s position as one of the top IPO markets globally.
The report highlights that the largest IPO during this period was that of Hexaware Technologies, which raised a whopping $1 billion. This massive fund raise is a testament to the confidence investors have in India’s growth story. Interestingly, the report also reveals that India’s overall IPO activity declined by 20% compared to the same period last year. This decline can be attributed to the ongoing market volatility and the COVID-19 pandemic’s lingering impact on the global economy.
One of the most striking aspects of India’s IPO market in Q1 2025 is the high proportion of profitable companies that went public. A staggering 90% of Indian companies that launched IPOs during this period were profitable, indicating a strong focus on fundamentals and growth potential. This trend is likely to continue, as investors increasingly seek out companies with a proven track record of profitability and robust financials.
The EY report also provides insights into the global IPO market, highlighting the ongoing trend of privatization and divestment. In the first quarter of 2025, the global IPO market saw 134 IPOs, raising a total of $12.4 billion. While this figure is lower than the same period last year, it still reflects a robust appetite for IPOs among investors.
The report also highlights the growing importance of emerging markets, particularly in Asia, in the global IPO landscape. China and India, in particular, have been driving growth in the IPO market, with both countries accounting for a significant proportion of global IPO activity.
India’s IPO market has been a significant contributor to the global IPO landscape, and this trend is likely to continue in the coming quarters. The country’s robust economic growth, favorable demographics, and increasing investment in industries such as technology and healthcare have created a favorable environment for IPOs.
The EY report also highlights the increasing importance of sustainability and environmental, social, and governance (ESG) factors in the IPO process. Investors are increasingly seeking out companies with strong ESG credentials, and companies are responding by prioritizing sustainability and social responsibility.
In conclusion, India’s IPO market has had a remarkable start to the year, with a significant 22% share of global IPO activity. The country’s largest IPO, Hexaware Technologies, raised $1 billion, while 90% of Indian companies that launched IPOs were profitable. While the overall IPO activity declined by 20% compared to the same period last year, India’s IPO market remains one of the top globally. As the global IPO landscape continues to evolve, India’s robust economic growth and favorable demographics are likely to drive its growth in the coming quarters.
