Indian IPOs lit up after listing even as major global markets flashed red

India's outperformance vis-a-vis other markets happened in a year that witnessed high inflation, rising interest rates, and a bloody war in Europe

The after-listing performance of domestic initial public offerings (IPOs) above $100 million in India has been better than in many major global markets. 

According to an analysis by Kotak Investment Banking, only 41 per cent of companies listed since 2021 (with an issue size of at least $100 million) are currently trading below their issue price.

By comparison, 59 per cent of IPOs in the US, 65 per cent in the UK, 63 per cent in China, and 64 per cent in Singapore are currently below their issue price.

In terms of after-listing performance, India is only second to Hong