India’s booming stock market is helping local private-equity firms buck an industry slowdown in asset sales by providing them with an exit route for their investments, according to the Global Private Capital Association.

“A boom in retail ownership across Indian stock markets has driven public-equity indices to all-time highs, with [PE firms] increasingly opting to list companies locally,” the trade group says. Recent private equity-backed initial public offerings in India include that of Aadhar Housing Finance, which raised $359 million in May.

Blackstone acquired the affordable housing-finance company in 2019. Overall, private-capital asset sales in India totalled $25.9 billion last year, roughly 49% more than in 2022, compared to a drop of 1% in the U.S. and 10% in Europe, GPCA says. Read More.