The Asia-Pacific region had to contend with a slowdown in new listings in mainland China, but another bumper year for India's IPO market, which consolidated its position as the most active IPO hub globally, helped to lift overall activity in the region

The outlook for global IPO activity in 2024 is improving as interest rates stabilize and stock market valuations rally after a challenging 2023

India's stock exchanges saw more IPOs than any other jurisdiction, as its strong domestic economy buoyed markets

Debt Explorer | Robust economic growth and increasing cross-border investments are driving a surge in transaction activity in the subcontinent

From challenges to solutions

India stands out globally as a market with strong growth in IPO volume, thanks to its dynamic regulatory framework, robust domestic capital market and a large retail investor base.

Global IPO markets faced unexpected headwinds in 2022, prompting some to postpone their deals until the dust settles, but the market remains resilient

No region demonstrated more resilience than APAC in 2022, with the largest deal globally, the greatest total IPO value and volume, and the smallest year-on-year declines

IPOs boomed in 2021, with both the number of new listings and the total proceeds raised breaking records. But dealmakers face a tougher road ahead.  

Fueled by strong stock markets and the need for yield, investors poured money into IPOs in 2021, resulting in a record-breaking year

Strong refinancing appetite sustains the high yield bond market in the Asia-Pacific region despite a slowdown in real estate issuance in China.

Loan issuance from Indian borrowers has tailed off because of rising COVID-19 infections, but high-profile mega-deal financings have given lenders and borrowers cause for optimism