SEBI reports that despite market volatility and ongoing trade tensions, India remains at the forefront of global IPO activity. Indian markets are not only breaking domestic records but also emerging as a global leader in listing volumes.
India featured in two of the world’s top five IPO deals this year, while domestic IPO fundraising touched an all-time high of Rs 1.8 lakh crore. This reflects sustained investor confidence in Indian equities despite global uncertainty.
Here is a deeper look at why India’s IPO market is booming and why it matters for investors.
What’s Happening?
SEBI’s report shows that despite global headwinds such as geopolitical tensions and financial market volatility, India’s primary market has emerged as a global leader. In October, the world’s top five global IPOs together raised over $10 billion, and notably, two of these listings came from India.
According to the report, a total of 139 companies worldwide raised $22 billion through IPOs in October. The largest IPO was launched by UK-based Verisure, which raised $4.2 billion. India’s Tata Capital followed, raising $1.7 billion through its listing on the NSE and BSE. In terms of the number of IPOs issued, India surpassed China and Japan to secure the top position.
Historic Record Set in October
October 2025 turned out to be a landmark month for the Indian IPO market. Driven by high-profile listings such as Tata Capital Limited and LG Electronics India Limited, fund mobilisation touched a record Rs 41,783 crore.
This figure is significant, as it surpassed the previous monthly record of Rs 36,305 crore set in November 2021. Data also shows that the Western Region maintained its dominance during this period. Of the 63 issues launched, 29 came from this region alone, contributing Rs 19,847 crore. Additionally, the share of Offer for Sale (OFS) increased, accounting for 73% of the total funds raised through mainboard IPOs.
IPO Boom Likely to Continue in December
The primary market is expected to remain strong in December as well. After robust fundraising in October and November, this month also looks encouraging for investors. Estimates suggest that nearly 25 IPOs may raise around Rs 30,000 crore, reflecting stable demand and rising investor interest.
Several major listings are lined up for December. ICICI Prudential Asset Management is preparing to raise about Rs 10,000 crore. Meesho, which made a strong debut on 10 December 2025 with a 46.4% listing gain, also remained in focus this month. Other large issues include Clean Max Enviro Energy Solutions (Rs 5,200 crore), Fractal Analytics (Rs 4,900 crore), and Juniper Green Energy (Rs 3,000 crore), all targeting substantial mobilisation.
What Does This Mean for Investors?
The Indian IPO market has delivered a record-breaking performance this year. With fundraising touching Rs 1.77 lakh crore (around $19.6 billion), India has already surpassed last year’s peak of Rs 1.73 lakh crore. Strong activity in October and November, where Rs 45,188 crore and Rs 23,613 crore were raised respectively, has further reinforced the momentum. If this pace continues, the final month of the year may set fresh records.
However, there is an important cautionary message for investors behind this surge. According to Bloomberg data, nearly half of the 300-plus companies listed this year are currently trading below their offer price. Surprisingly, this includes major names such as Tata Capital. This serves as a reminder that not every listing turns out to be profitable.
What’s Next?
India’s IPO pipeline for the coming year has reached a historic high. Issues worth more than Rs 2.55 lakh crore are already lined up, signalling that companies want to capitalise on strong and growing investor demand.
For 2026, SEBI has already approved 88 companies, which together aim to raise about Rs 1.16 lakh crore. Another 104 companies are awaiting approval and planning to raise nearly Rs 1.4 lakh crore. A notable trend driving this surge is the sharp rise in DRHP filings. In 2025, companies filed 244 DRHPs, over 1.5 times the 157 filings recorded in 2024.
*The companies mentioned in the article are for information purposes only. This is not investment advice.
*Disclaimer: Teji Mandi Disclaimer
