India may surpass past IPO records in 2025, with LG India’s ₹15,000-crore issue boosting totals significantly
New Delhi
India’s IPO market is heading for a record-breaking year in 2025, with companies already raising nearly ₹85,000 crore through 74 mainboard issues by September. With Tata Capital and WeWork India set to launch major offerings in October, the market is expected to cross the ₹1 lakh crore milestone for only the third time in history.
Tata Capital’s ₹16,000-crore IPO, scheduled for October 6–8, is among the year’s largest. Meanwhile, WeWork India will launch a ₹3,000-crore issue between October 3–7. Together, these offerings will push total fundraising past the landmark level.
India has previously crossed the ₹1 lakh crore mark in 2021 and 2024. In 2021, 63 IPOs raised ₹1.19 lakh crore, while in 2024, 91 offerings brought in ₹1.6 lakh crore. Analysts suggest 2025 could surpass both years, especially with LG India preparing a ₹15,000-crore issue in early October, potentially lifting the tally beyond ₹1.3 lakh crore.
Several other prominent companies, including ICICI Prudential, Groww, Pine Labs, Canara HSBC Life, Credila Financial, and Physics Wallah, are also preparing to list before year-end, which could further boost the figures.
The SME IPO segment has also seen record activity. In September alone, 53 SME companies raised ₹2,309 crore — the best monthly performance ever in terms of both value and volume. So far in 2025, 207 SME issues have raised ₹9,129 crore, breaking all previous annual records with three months still remaining.
Experts attribute the boom to robust corporate earnings, strong investor demand, and growing retail participation. With such momentum, 2025 is shaping up to be one of India’s most remarkable years in the primary markets.
