India emerges as 2023 winner in the IPO space and is named key market for investors in 2024

December 11, 2023 08:00 PM AEDT | By Invezz

India emerges as 2023 winner in the IPO space and is named key market for investors in 2024 — Image source: Invezz

Why the 400 percent increase in IPOs?

In fact, IPO deals were up by more than 400% in terms of the number of deals in 2023. The proceeds from Q3’s IPOs alone totaled more than $1700 million, up 376 percent YoY compared to Q3 2022.

According to a release by EY, the flow of FDI into India’s brightest startups can partially be attributed to the fear of a U.S. recession which dominated much of 2023’s landscape, as well as a more dovish year expected ahead, with less and less aggressive inflation and interest rate hikes. Also, it said that there have likely been so many IPOs recently because “companies are striving to file for IPOs before the 2024 Indian elections.”

EY’s findings

Adarsh Ranka, partner and financial accounting advisory services leader at EY Global, said the results were significant for India’s private sector, and for investors globally too.

The IPO landscape is witnessing a surge in activity driven by both an urge to tap the capital markets pre-or-post Indian general elections and strong economic activity, positive domestic and foreign investor sentiment towards India. This momentum is expected to continue well into H2 2024. As we navigate this dynamic landscape, strategic planning, and prudent decision-making will be paramount to make the most of the opportunities that lie ahead.”

Read more: the top Indian stocks to buy in 2024

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