India’s major equity benchmarks touched record levels earlier this year, with earnings and the economy growing despite the highest interest rates since 2018. Investor demand in the world’s most populous country has also increased as slowing economic growth in China weighed on sentiment there.
A record number of small- and medium-sized companies going public amid an equities rally has made India one of the world’s busiest listings markets this year.
So far in 2023, 184 firms have gone public in the South Asian nation, more than in any other full year, according to data compiled by Bloomberg. October saw 30 companies start trading in India, beating the US, China and Hong Kong, to name a few locations, the data show.
