India's capital markets raised Rs 3.8 lakh crore in equity, with 311 IPOs, as investor numbers surged to 13.7 crore.

India's capital markets surged in the first nine months of FY2025-26, raising Rs 1.7 lakh crore through 311 IPOs, bringing total equity mobilization to over Rs 3.8 lakh crore, SEBI Chairman Tuhin Kanta Pandey said. Unique investors rose to 13.7 crore, up from 4.3 crore in FY20. SEBI introduced a revised reporting framework for trading system glitches, applying only to brokers with over 10,000 clients, extending reporting time to two hours and centralizing submissions. Brokers can now diversify into other financial services under safeguards. Mainboard IPOs raised Rs 1.72 lakh crore in 2025, an 8% year-on-year increase, led by Maharashtra, Delhi-NCR, and Karnataka.