IPO boom: Large IPOs hit 17x subscription on strong liquidity; what it means for investors

India's 2025 primary market is witnessing a surge in large IPO subscriptions, a departure from previous cycles. Abundant institutional liquidity and sharper investor selectivity are driving this trend, with IPOs over Rs 5,000 crore averaging 17.7 times subscription. This indicates a maturing investor mindset rewarding scale, profitability, and brand-led growth.

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