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•     Indian stock exchanges, including the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), have emerged as global leaders  in terms of the number of IPOs in 2023, with no cross-border deals reported, according to a report by EY India, a leading global professional services organization. •     India's primary markets, comprising BSE and NSE, recorded 31 IPOs (including one InvIT) in the fourth quarter of 2023, marking a significant uptick compared to the same period in 2022 and the third quarter of 2023. •     This represents a remarkable 72% increase over Q4 2022 and a substantial 41% increase over the third quarter (Q3) 2023. •     A total of 57 Indian corporates raised Rs 49,434 crore through main board IPOs in 2023, 17 per cent lower than the Rs 59,302 crore mobilized by 40 IPOs in 2022. •     The record-breaking blockbuster year of 2021, with 63 IPOs raising a whopping Rs 1,18,723.17 crore, set a high benchmark.  •     The fourth quarter of 2023 emerged as the standout period of the year, accounting for nearly 40 per cent of the total listings in 2023. •     The Small and Medium Enterprises (SME) markets showcased remarkable growth, witnessing 61 IPOs in Q4 2023, as compared to 34 and 47 IPOs in Q4 2022 and Q3 2023, respectively. This is a 79% and 30% increase compared to Q4 2022 and Q3 2023, respectively. Learn Along: About IPO •     An Initial Public Offer (IPO) is the selling of securities to the public in the primary market. •     It is the largest source of funds with long or indefinite maturity for the company. •     An IPO is an important step in the growth of a business. •     It provides a company access to funds through the public capital market