India’s stock market saw an unprecedented fundraising rush in 2025, with companies raising a record ₹1.75 lakh crore through IPOs.
Record‑breaking IPO totals
In 2025, 103 companies listed on the main board, up from 91 in 2024 and 57 in 2023. The total amount raised topped the previous high of ₹1.59 lakh crore set in 2024.
- Total main‑board IPO proceeds: ₹1.75 lakh crore
- Eight large listings contributed ₹78,300 crore (about 44.5% of the total)
- SME‑segment raised a record ₹11,429 crore from 267 IPOs
Top four IPOs that drove the surge
The biggest fund‑raisers were:
- Tata Capital – ₹15,512 crore (October)
- HDB Financial Services – ₹12,500 crore (June)
- LG Electronics India – ₹11,605 crore (October)
- ICICI Prudential AMC – ₹10,602 crore (December)
These four issues alone added almost ₹50,000 crore to the year’s total.
Other notable listings
- Hexaware Technologies – ₹8,750 crore (February)
- Lenskart Solutions – ₹7,278 crore (October)
- Groww (Billionbrains Garage Ventures) – ₹6,632 crore (November)
- Meesho – ₹5,421 crore (December)
Why the market was so active
Experts say fresh capital was in high demand because mutual funds and other domestic investors had strong monthly inflows, totaling about ₹3.22 lakh crore in 2025. With limited space to buy existing shares at stretched valuations, investors looked for new issues.
Stable secondary‑market conditions and attractive pricing made companies confident to go public.
SME segment growth
The smaller‑company board also saw rapid expansion. IPOs rose from 182 in 2013 to 267 in 2025, and funds raised jumped from just ₹260 crore in 2015 to over ₹11,400 crore this year.
Outlook for 2026
Bankers expect the momentum to continue. Strong domestic liquidity, a healthy pipeline of issuers, and a shift toward public‑market funding for financial, manufacturing, consumer, and new‑age businesses should keep IPO activity robust.
Disclaimer
Remember, this is perspective, not a prediction. Do your own research and consider your risk tolerance before making any investment decisions.