India's IPO Market Sets New Records

India has emerged as one of the world's leading markets for initial public offerings (IPOs), raising over $19 billion since January, surpassing the previous annual record of $17.8 billion in 2021. This surge is driven by a strong appetite for IPOs among investors and robust economic growth.

Vishal Mega Mart Ltd.'s trading debut saw its shares surge more than 40%, highlighting the insatiable demand for IPOs. This trend is expected to continue into 2025, with experts predicting a busy year ahead for IPOs and mergers and acquisitions (M&A).

Women Leaders Driving the Boom

Sonia Dasgupta, Managing Director and CEO of investment banking at JM Financial Ltd., noted during a roundtable discussion in Mumbai that organizations that attract, retain, and nurture women benefit from a larger talent pool. Dasgupta emphasized her company's meritocratic system, which results in significant participation by women at various levels.

Looking Ahead: More IPOs and M&A Activity

On the deals front, multinational companies are considering various options for improving efficiency, including exiting the market, selling shares, or expanding. More IPOs are on the horizon, with LG Electronics Inc. potentially increasing the valuation of its Indian unit to $15 billion for a listing in Mumbai next year. Despite some IPOs trading below their offer prices, the overall trend shows more winners than losers.

A growing chunk of activity may gravitate toward M&A, particularly in infrastructure, healthcare, and consumer sectors. The volume of M&A deals targeting Indian firms has climbed 19% to $42.3 billion this year, driven by increasing interest from global investors.