Global IPO market grows 9.5% YoY, raising $56.8B in first seven months of 2025

The global IPO market showed notable resilience in the first seven months of 2025, with proceeds rising 9.5% year-on-year to $56.8 billion, despite ongoing market volatility and policy uncertainties, according to GlobalData, a leading provider of data and analytics. This growth was fueled largely by strong investor demand in the Asia-Pacific region, reflecting a broader pivot toward high-value listings supported by favorable macroeconomic conditions and evolving corporate capital-raising strategies across multiple sectors and geographies.

GlobalData’s Deals Database indicates that although the number of IPOs declined worldwide during this period, the overall deal value increased, underscoring a clear shift toward fewer but larger, higher-value offerings.

Commenting on the trend, Murthy Grandhi, Company Profiles Analyst at GlobalData, noted:

“We are witnessing a fundamental reshaping of global capital flows and investor sentiment, which is driving realignment in IPO activity across industries and regions. In such a dynamic environment, where markets are constantly adjusting, maintaining IPO readiness has become a critical strategic priority. Companies must balance short-term market pressures with long-term objectives aligned to prevailing macro trends.”

He added that early 2025 market dynamics prompted many companies to rethink their exit strategies, with some extending their private status while others pursued smaller-scale public offerings.

Regional Breakdown

The Asia-Pacific region led IPO activity with 385 transactions worth $28.4 billion, followed by North America, which recorded 124 deals valued at $21.7 billion.

• India topped the global rankings with 150 IPOs worth $6.3 billion, largely driven by small and medium-sized enterprise (SME) listings.

• The United States ranked second with 115 deals raising $21.3 billion.

• China followed with 82 IPOs generating $14.2 billion.

Grandhi attributed Asia-Pacific’s robust performance to positive market sentiment, even amid trade frictions, pointing to a supportive macroeconomic backdrop and surging investor interest.

Sector Highlights

• Technology & Communications: 97 IPOs, $9.5 billion

• Financial Services: 88 IPOs, $12.9 billion

• Pharmaceuticals & Healthcare: 55 IPOs, $6.2 billion

• Industrial Goods & Machinery: 53 IPOs, $3.1 billion

Among the most notable IPOs were Contemporary Amperex Technology ($4 billion) and JX Advanced Metals ($2.4 billion), both of which underscored investor confidence in sectors aligned with strategic innovation and industrial priorities.

Outlook

Looking ahead, Grandhi emphasized that while the IPO market has held up strongly so far in 2025, the outlook for the second half remains cautiously optimistic. A more sustained rebound will depend on:

• improved global trade cooperation,

• accommodative monetary policies,

• effective inflation management, and

• easing geopolitical tensions.

“In this complex landscape, the companies most likely to succeed in going public will be those aligned with national strategic goals, focused on innovation, and able to present a compelling equity story backed by realistic valuations and flexible timing,” Grandhi concluded.