Since September 2024, Indian initial public offerings (IPOs) have displayed notable resilience, with numerous companies achieving robust performances despite market corrections. For instance, MobiKwik’s shares soared by 86% during its December 2024 debut, valuing the fintech firm at approximately ₹40 billion (US$474 million). Additionally, in 2024, India surpassed China to become Asia’s leading market for IPOs, underscoring the country’s dynamic equity market activity.