Overview
- Funds raised via OFS in 2025 have reached nearly Rs 96,000 crore and are on track to top Rs 1 trillion, with total IPO proceeds around Rs 1.53 trillion and likely to surpass last year’s record.
- Fresh issuance stands at Rs 56,796 crore this year, while PRIME Database data show roughly three-fourths of IPO fundraising since 2015 has been through OFS rather than new capital.
- Post-listing results remain uneven, with NDTV Profit reporting 42 stocks trading below their listing price and 45 above, and India Today noting about one in four 2025 IPOs below issue price.
- Chief Economic Advisor V Anantha Nageswaran cautioned that IPOs are increasingly serving as exit routes for early investors, whereas SEBI chair Tuhin Kanta Pandey said the market should accommodate both primary and secondary objectives.
- Equirus Capital reports Rs 5.39 lakh crore raised via IPOs in 2020–2025, surpassing the previous two decades, with larger average issue sizes, more issuers from tier-2/3 cities, and an expected $20 billion pipeline in 2026.