India’s IPO Boom Set to Raise $20 Billion, Cementing Market Position
Initial public offerings in India could raise as much as $20 billion over the next 12 months, positioning the country among the world's busiest listings markets. Citigroup Inc. highlights a record pipeline spanning technology, healthcare, and consumer sectors.
This year's $12 billion in IPO proceeds will grow by another $5 billion this month alone, fueled by Tata Capital Ltd. and LG Electronics Inc.'s Indian arm. "India is likely to be the world's most active ECM market along with Hong Kong," says Harish Raman of Citi.
The surge is underpinned by robust domestic capital—millions of retail investors offsetting $15 billion in foreign outflows. Upcoming listings include Pine Labs Ltd., Meesho, and a potential record-breaking Reliance wireless carrier IPO.
