The global IPO market is roaring back but some of the most interesting action isn’t happening on Wall Street.

In this episode of the Market Maker Podcast, Anthony Cheung and Stephen Barnett take a whistle-stop tour of the global IPO boom, from China’s extraordinary robotics race and Hong Kong’s growing pipeline of AI listings to what could become the biggest IPO in India’s history.

We break down why Chinese robotics companies are attracting huge investor demand, what embodied AI could mean for the next stage of the technology cycle, and why Hong Kong is emerging as an important fundraising hub for the sector. We then head to India to look at the planned listing of the National Stock Exchange, before exploring the surprisingly active IPO markets of Pakistan and Zambia.

Finally, we return to the US to ask an important question: with so much investor capital being pulled towards mega AI and technology listings, are other companies being crowded out?

A global look at where capital is flowing, why IPO activity is returning and what it tells us about the changing shape of markets.

(00:00) The Global IPO Boom

(03:48) IPOs Are Back

(06:00) Careers in Equity Capital Markets

(10:04) China’s Robot IPO Boom

(11:36) The Unitree Robotics Story

(18:36) China vs the US

(22:15) Hong Kong’s Robot Gold Rush

(27:27) India’s Biggest IPO Ever

(30:36) Inside an IPO Roadshow

(33:01) Pakistan’s Record IPO Year

(36:12) Zambia’s IPO Boom

(39:10) Why This US IPO Flopped

(40:39) The Defence Tech Opportunity

China’s Robot IPO Boom & India’s Biggest IPO Ever Explained

Market Maker

China’s Robot IPO Boom & India’s Biggest IPO Ever Explained