Overview

• IPO proceeds in 2025 have reached about $14 billion, placing India fourth globally behind the US, Hong Kong and China.
• LG Electronics India drew record bids of Rs 4.4 lakh crore, or 54 times the shares on offer, with LG and Tata Capital slated to list next week.
• Foreign portfolio investors have withdrawn roughly $18 billion from secondary markets this year but put about $5 billion into IPOs.
• The queue features technology, healthcare and consumer names such as Pine Labs, Meesho, ICICI Prudential AMC, Groww and Physics Wallah, with a Reliance Jio offering next year expected to be a record setter.
• Citigroup says India is set to be one of the most active ECM markets alongside Hong Kong, while bankers flag supply-driven valuation recalibration and foresee 2026 issuance surpassing 2025.