2025: India's IPO scene hits record highs
India's IPO market just had its biggest year ever—373 companies went public in 2025, raising a massive ₹1.95 lakh crore ($22.9 billion).
That's a 12x jump in fundraising from previous years, with both big firms (mainboard) and smaller businesses (SMEs) joining the rush.
What's driving the boom?
Average mainboard IPO deal sizes have grown in recent years, reflecting increased investor appetite and more ambitious fundraising from companies of all sizes.
India leads globally, tech startups shine
India grabbed the top spot worldwide for IPO volume, making up over a quarter of global deals last year.
Tech startup listings also picked up speed—18 went public (up from 13), raising ₹41,000 crore across sectors like fintech, SaaS, EVs, and consumer internet.
Standout moments and trends
Quality Power Electrical Equipments pulled off the year's biggest sole-banker IPO at ₹860 crore.
Meesho wowed with an over 63% post-listing gain, while Aequs saw over 11%.
More SMEs are listing earlier than ever—showing that even smaller players are jumping into the action now.