India's IPO Market Shines with $2.8 Billion Raised in Q1 2025

India's IPO market showed terrific resilience in the early part of 2025, achieving a 22% global share as 62 listings raised $2.8 billion, as per EY's Q1 2025 IPO Trends Report. Technology was at the forefront, led by the largest IPO in the quarter - Hexaware Technologies' $1 billion listing.

Key Highlights

Sectoral diversity: Industrials, real estate, hospitality, and health sciences led activity, with health-related companies displaying high pipeline growth.

Market dynamics: In the face of a 20% year-on-year reduction in IPO size and a 1.1% fall in the BSE Sensex, investor sentiment remained strong, backed by good fundamentals and retail investment.

M&A synergy: Merger and acquisitions activity reached historic highs to support IPO momentum, indicating India's evolving financial infrastructure.

EY India's leadership highlighted optimism for long-term growth, citing favorable policies and a strong economic climate. The report highlights India's changing capital markets, offsetting global uncertainties with domestic strategic investments.

Sources: EY Q1 2025 IPO Trends Report, NDTV, Business Standard, Entrepreneur India