India leads APAC IPO activity: GlobalData

India recorded 227 IPO listings, translating to $12.2b. 

India led in Asia-Pacific’s (APAC) initial public offering (IPO), recording 227 IPO listings with a deal value of $12.2b during the first eight months of 2024, according to GlobalData. 

South Korea and Japan also registered impressive growth in their respective IPO markets. 

South Korea saw a 185.7% increase, with 60 IPOs raising a total of $1.2b, while Japan recorded a 48.5% rise, with 49 IPOs and generating $1.6b. 

The growth was atrributed to the liberalisation of trading rules, creating a more favourable environment for public listings.

Meanwhile, China’s IPO market dwindled in deals by 8%, affected by both structural and cyclical constraints, registering only 69 transactions and raising just over $5b.

In the first eight months of 2024, the APAC market had a surge in initial public offering (IPO) activity, with 575 listings raising a total of $23.7b.

This represents a 15.6% growth in terms of IPO proceeds compared to the same period in 2023. 

APAC’s IPO landscape was dominated by the technology and communications industry, with 105 transactions amounting to a total of $2.4b, followed by construction, which recorded 68 deals with an overall value of $2.2b.

Significant IPOs include HD Hyundai Marine Solution Co. Ltd. and Bharti Hexacom Ltd., with deal values of $540m and $795m, respectively.