Indian firms raised a record ₹2.9 lakh crore in IPOs and offerings in 2025, driven by strong domestic and foreign demand despite some underperforming listings.

Indian companies raised a record ₹2.9 lakh crore in Samvat 2081 through mainboard IPOs, SME offerings, and QIPs, the highest in the nation’s history, driven by strong investor demand from domestic and foreign sources. Despite a rise in underperforming listings—with 29 of 85 mainboard IPOs opening below issue price and only three gaining over 50%—market activity remained robust, fueled by favorable economic conditions and sustained confidence. The SME segment also saw increased participation, though listing gains were significantly lower than in 2024.