IPO Frenzy Defies Market Blues, Mobilises Rs 1.7 Lakh Crore in Just One Year

India’s primary market has staged a remarkable performance over the past year, raising a staggering Rs 1.70 lakh crore through initial public offerings despite a slump in secondary markets. From October 2024 to September 2025, 86 IPOs hit the bourses, nearly doubling the capital raised compared to the previous year.

Key highlights from the IPO surge:

1. The BSE Sensex fell 3.5 percent and Nifty slipped 4.4 percent during the same period, yet IPO activity remained robust  
2. The boom was driven by strong domestic liquidity from mutual funds, insurers, and retail investors, reducing dependence on foreign inflows  
3. The October–December 2024 quarter was the most active, with 30 IPOs raising Rs 95,513 crore  
4. Activity slowed in early 2025 but rebounded in July–September with 37 IPOs mobilising Rs 45,551 crore  
5. HDB Financial Services led the pack with a Rs 12,500 crore issue, followed by Hexaware Technologies at Rs 8,750 crore and NSDL at Rs 4,010 crore  
6. Compared to 88 IPOs raising Rs 90,436 crore in the previous year, this year’s performance marks a significant leap  
7. Experts attribute the shift to investors seeking better value in primary markets amid volatility in secondary trading  
8. Upcoming IPOs include Tata Capital, LG Electronics, Hero Fincorp, BoAt, and WeWork, indicating sustained momentum  
9. SEBI’s regulatory easing and ESOP reforms have also encouraged more companies to go public  
10. Analysts expect the trend to continue as companies tap into India’s long-term growth story

Sources: Economic Times, Moneycontrol, MarketBrew India