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The APAC market witnessed a notable surge in IPO activity, with 604 listings raising a total of $33.9 billion. This represents a 21.5% growth in terms of IPO proceeds compared to 2023. India dominated the APAC IPO market with over 200 companies going for public issues in 2024, reveals GlobalData, a data and analytics company.

Murthy Grandhi, Company Profiles Analyst at GlobalData, comments: "India's IPO market hit a bull run in 2024, with proceeds skyrocketing to $11.2 billion-more than doubling the $5.5 billion raised in 2023. The pipeline for 2025 promises even bigger fireworks, fueled by skyrocketing retail participation, hefty domestic inflows, and FPIs flexing their muscles despite being net sellers in the secondary market. This blockbuster year reflects issuer confidence and investors' insatiable appetite for listing-day pops and long-term growth plays.

"Surging private capital expenditure and the government's laser focus on infrastructure and core sectors added the perfect recipe for capital market dynamism. India's IPO boom is more than just a numbers game-it's a testament to the resilience and evolution of its financial ecosystem, positioning it as a global hotspot for fundraising action.

Japan and Malaysia also registered impressive growth in their respective IPO markets. Japan saw a remarkable 275.1% increase, with 69 IPOs raising a total of $12.6 billion, while Malaysia recorded a 145.9% rise, with 36 IPOs generating $1.1 billion. This growth was fueled by heightened interest in its valuation and liquidity.

However, China saw a sharp drop in the number of IPOs by 51.3%, impacted by tightened regulations. The country saw the launch of 64 IPOs raising just over $5.2 billion.

APAC's IPO landscape was dominated by the technology and communications industry, with 118 transactions amounting to a total of $3.8 billion, followed by financial services, which recorded 60 deals with an overall value of $2.6 billion.

Significant IPOs include Lineage Inc and Tokyo Metro with deal values of $4.4 billion and $3.2 billion, respectively.

Hyundai Motor led the charge in India with a colossal $3.3 billion issue, followed by Swiggy's $1.3 billion sizzle. Other major issues include NTPC Green Energy's $1.2 billion IPO, Vishal Mega Mart's offer to raise $0.9 billion, and Bajaj Housing Finance's $0.8 billion issue.

Grandhi concludes: "GlobalData predicts 2025 IPO activity to surpass that recorded in 2024, driven by a robust pipeline. However, the outlook will hinge on key factors such as the trajectory of Fed rate decisions and the performance of other emerging markets.

"Investors are also closely watching China's economic stimulus measures, which are expected to increase exposure to mainland equities. While uncertainties remain about the effectiveness of these policies, the implementation of stimulus initiatives signals China's intent to reinvigorate its economy and boost market activity. With these dynamics in play, 2025 holds strong potential for growth, contingent on global and regional economic developments."