Overview
- Mainboard deals contributed 94% of 2025 proceeds, raising about Rs 1.83 lakh crore across 106 offerings, while 259 SME listings drove the count.
- Across CY24–CY25, mainboard IPOs mobilised roughly Rs 3.6 lakh crore from 198 issuers, underscoring the dominance of larger transactions.
- In 2025 the sector mix shifted, led by NBFCs (26.6%) with capital goods (9.5%), technology (9.2%), healthcare (6.4%) and consumer durables (6%), as telecom, utilities and private banking saw no IPOs.
- Investor appetite stayed elevated with aggregate oversubscription near 26.6x over two years, yet only 55% of 197 mainboard listings trade above offer and 14 have doubled or more.
- SEBI data shows 84 firms cleared to raise about Rs 1.14 lakh crore and 108 awaiting approval for roughly Rs 1.46 lakh crore in 2026, with potential candidates like Reliance Jio, NSE, Flipkart, PhonePe and OYO subject to clearances and market timing.