Overview
- Indian equity listings raised about Rs 1.95 lakh crore (roughly US$22 billion) in 2025, with India leading the world by deal volume across 373 IPOs including 103 mainboard issues.
- Performance diverged after debut as of late December, with only 54 of 2025’s newly listed stocks trading above issue price and 47 below, even though most opened at a premium.
- Pantomath’s Primary Pulse 2025 report projects close to Rs 4 lakh crore of capital formation via IPOs in 2026 and highlights that mainboard IPOs surpassed 100 this year with growth across mid and large deal sizes.
- Private startup funding totaled about US$11 billion across 936+ deals in 2025, with only 18 mega rounds (US$100 million+) raising US$3.5 billion as capital concentrated on category leaders and large global backers such as SoftBank and Tiger Global pulled back.
- Zepto filed a confidential DRHP for a roughly US$1.3 billion IPO targeted for 2026, and Bengaluru regained the top startup hub position with more than US$4.6 billion raised across nearly 300 deals.