IPO Boom: 2025 Set for Record Rs 2 Trillion-Plus Fundraise
India’s primary market is poised to create history in 2025, with IPO fundraising already surpassing the previous year’s total and heading toward an unprecedented Rs 2 trillion milestone. This surge is driven by over a dozen major issues queued up for the final weeks of the year.
Key Takeaways
- IPO fundraising has already crossed Rs 1.59 trillion, exceeding 2024’s full-year total
- Three major IPOs this week aim to raise Rs 6,644 crore
- Over a dozen companies preparing to raise approximately Rs 40,000 crore in December
- Record driven by rising retail participation and strong domestic inflows
Current Week’s Major Offerings
This week features three significant mainboard IPOs opening December 3:
- Meesho (SoftBank-backed): Rs 5,422 crore (Rs 4,250 crore fresh issue + Rs 1,172 crore OFS)
- Aequs: Rs 922 crore aviation components offering
- Vidya Wires: Rs 300 crore public offering
Additionally, eight SME IPOs are expected to raise around Rs 600 crore this week.
December Pipeline: Major Issues Ahead
The final four weeks of 2025 will see nearly a dozen more companies launching IPOs:
- ICICI Prudential Life AMC: Rs 10,000 crore OFS
- Clean Max Enviro Energy Solutions: Rs 5,200 crore
- Fractal Analytics: Rs 4,900 crore
- Juniper Green Energy: Rs 3,000 crore
- Arcil: Rs 1,500 crore
- Wakefit Innovations: Rs 1,000 crore-plus
- Innovatiview India: Rs 2,000 crore
- Park Medi World: Rs 1,260 crore
Additional Companies in Queue
Several other firms are preparing for market debuts, including Manipal Payment (Rs 750 crore), Kanodia Cement (minimum Rs 1,490 crore), Corona Remedies (Rs 800 crore), Milky Mist (Rs 2,030 crore), and Amagi Media Labs (Rs 2,000 crore). According to merchant bankers, these companies together could raise close to Rs 40,000 crore.
2025’s Major Listings
Notable mainboard IPOs this year include:
- Tata Capital: Rs 15,512 crore (October)
- LG Electronics: Rs 11,607 crore
- Lenskart Solutions: Rs 7,278 crore
- Billionbrains Garage Ventures (Groww parent): Rs 6,632 crore (November)
Experts note that Tata Capital’s stock, despite strong subscription, has been trading below its issue price.
Market Momentum Drivers
This record-breaking momentum is attributed to rising retail participation and resilient domestic inflows. So far in 2025, 96 companies have debuted on mainboard exchanges alone, raising Rs 1.6 lakh crore. More than 40 of these listings occurred in the last three months, highlighting heightened primary market activity after a slow start to the year.
In comparison, 2024 saw 91 public issues mobilizing Rs 1.59 trillion, supported by strong retail participation, private capex, and a buoyant economy.
