IPO fundraising in H1 2025 up 45% to ₹45,350cr
What's the story
Fundraising through initial public offerings (IPOs) in India jumped a whopping 45% to ₹45,351 crore in the first half of 2025. The surge comes despite global trade tensions, geopolitical conflicts, and macroeconomic challenges. However, the number of IPOs during this period fell to 24 from 36 in H1 2024. This indicates a rise in the average size of public issues.
Future prospects
Market expected to remain cautiously optimistic
The IPO market is tipped to remain cautiously optimistic in the second half of 2025. This is due to strong domestic investment inflows, positive investor sentiment, as well as strong growth visibility. Neha Agarwal of JM Financial Institutional Securities said that despite global trade tensions and macroeconomic challenges, firms successfully raised over ₹45,000 crore through IPOs during this period.
Filing increase
Surge in draft IPO filings with SEBI
The first half of this year also witnessed a sharp rise in draft IPO filings with the Securities and Exchange Board of India (SEBI). A total of 118 firms submitted preliminary papers, up from 52 in the same period last year. JM Financial topped both volume and value charts, with 10 issuances raising ₹26,838 crore in Q1 FY26 alone.
Market performance
Performance of mainboard IPOs in H1 2025
In January-June, 24 mainboard IPOs were launched with 67% listing at a premium. The overall performance of these IPOs was strong, giving an average return of around 25% to investors. Major IPOs during this period included. HDB Financial Services (₹12,500 crore), Hexaware Technologies (₹8,750 crore), Schloss Bangalore (₹3,500 crore), and Ather Energy (₹2,981 crore).