SpaceX IPO Fuels Record Haul
SpaceX’s historic debut on the Nasdaq on June 12 served as the period’s single largest catalyst. The aerospace and satellite company raised $75 billion by selling more than 555 million shares at $135 apiece, making it the largest IPO in history. After underwriters exercised their overallotment options, total proceeds climbed to roughly $86 billion. Shares surged on the first day of trading, pushing the company’s market capitalization above $2 trillion. wxxinews.org signalscv.com cnbc.com nytimes.com news.crunchbase.com
If SpaceX is classified as a technology firm, technology deals alone set a new first-half record at approximately $302 billion in global issuance, according to Mergermarket. The broader capital-markets boom coincided with a surge in mergers and acquisitions, with global M&A values rising about 30% year-over-year to $2.6 trillion in the first half, according to Bloomberg data. businesstimes.com.sg wsj.com wsj.com
India’s Equity Markets Stage a Comeback
India’s equity capital markets also contributed to the global momentum, though total issuance of $15.37 billion in the first half was down from $22.94 billion a year earlier, according to Bloomberg data. More than 60% of that fundraising was completed in May and June, reflecting a sharp late-period recovery. economictimes.com bloomberg.com
Kotak Mahindra Capital reclaimed the top spot in India’s ECM league tables with a 13.75% market share, displacing JPMorgan Chase, which fell to 11th place after leading in 2025. Major transactions underpinned Kotak’s performance, including a block trade in Vishal Mega Mart worth approximately $840 million in February, when promoter entity Samayat Services divested a roughly 14% stake, and Adani Ports activity that kept institutional deal flow strong through the half. bloomberg.com fortuneindia.com apparelresources.com linkedin.com economictimes.com
Outlook
The first half’s exuberance has set the stage for further large offerings. The New York Times reported that SpaceX’s successful listing “opens the door” for major IPOs from AI startups such as OpenAI and Anthropic, both valued near $1 trillion. In India, Kotak is positioning for what could be the country’s largest-ever IPOs in the second half of the year. nytimes.com economictimes.com bloomberg.com
