IPO Boom Ahead: Rs 2.58 Lakh Crore Worth Of Issues Set To Hit Indian Markets

India’s equity markets are set for an action-packed second half of 2025, with a host of companies preparing to tap into robust investor sentiment through public listings. From established financial players to digital-first startups and unicorns, a diverse mix of firms is lining up to raise capital via initial public offerings (IPOs).

Major offerings in the pipeline include Tata Capital’s Rs 17,200-crore issue and LG Electronics’ proposed Rs 15,000-crore float. Digital investment platform Groww is also expected to hit the markets with a Rs 5,950-crore share sale. This upcoming wave underscores the growing momentum in India’s primary market.

According to Prime Database, IPO proposals worth Rs 1.15 lakh crore have already received clearance from the Securities and Exchange Board of India (SEBI). An additional Rs 1.43 lakh crore in IPO filings are pending approval. In total, India’s IPO pipeline currently stands at a massive Rs 2.58 lakh crore, reported The Economic Times.

Startups And New-Age Businesses Join The Rush

Following a strong start to 2025—wherein 26 IPOs raised Rs 52,200 crore, led by HDB Financial Services with Rs 12,500 crore—several prominent new-age firms are eyeing listings. These include Meesho, PhonePe, Boat, Lenskart, Groww, Physics Wallah, and WeWork India, with expected issue sizes ranging from Rs 1,500 crore to Rs 9,000 crore. Others in the queue are Pine Labs, Amagi, Shiprocket, Urban Company, Wakefit, and TableSpace.

Comparing The Past: 2024 IPO Trends

In comparison, 2024 saw a total of 90 IPOs collectively raising Rs 1.60 lakh crore. The second half alone accounted for Rs 1.30 lakh crore, driven by 56 issuances. This trend reflects deepening participation from both institutional and retail investors.

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Mutual Funds Driving Demand

Industry experts point to strong investor engagement as a key factor supporting the current IPO boom. "The growth in fundraising through IPOs has been on the back of growing investor participation, both retail and institutional, as well as retail through institutional, particularly mutual funds," said Bhavesh Shah, managing director and head of investment banking at Equirus Capital, as per the ET report.

Mutual funds, fueled by consistent inflows into equity schemes, have become major players in IPO allocations. Over the past year, assets under management in equity schemes rose by 22 per cent, growing from Rs 26.82 lakh crore to Rs 32.69 lakh crore. Systematic investment plans (SIPs) alone contribute approximately Rs 27,000 crore to these schemes every month.

Private equity firms are also playing a significant role in this IPO wave. As many funds approach the end of their investment cycles, exits via public markets have accelerated. 

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