India sees highest‑ever IPO fundraising at ₹46,000cr in October
What's the story
India's primary market has witnessed an unprecedented surge in October, with 14 initial public offerings (IPOs) hitting the market. The total fundraising target of these IPOs exceeds ₹46,000 crore—the highest ever for a single month in India's capital-market history. The remarkable performance was led by two major offerings: Tata Capital and LG Electronics India.
Major contributors
Major contributions from Tata Capital and LG Electronics India
Tata Capital raised over ₹15,512 crore through its mainboard IPO while LG Electronics India garnered ₹11,607 crore. Together, the two companies accounted for over half of October's total fundraising. The month also saw other notable deals such as WeWork India and Canara HSBC Life Insurance.
Record-breaking month
Comparison with previous record months
October's tally has surpassed the previous record set in October 2024, when six IPOs raised ₹38,690 crore. The third-largest month on record is November 2021 with nine IPOs raising ₹35,665 crore. This is followed by November 2024 with eight IPOs collecting ₹31,145 crore and May 2022 where eight IPOs garnered over ₹29,510 crore.
Year-to-date performance
Strong IPO activity in 2025
So far in 2025, 89 IPOs have raised over ₹1.38 lakh crore, making it the second-highest year after 2024 when fundraising crossed ₹1.6 lakh crore. This record issuance comes despite periods of weakness in domestic equities and is supported by ample liquidity and strong investor participation. K Balasubramanian, CEO for India subcontinent and banking head at Citi, said that "2025 has already exceeded expectations" and is likely to end on a strong note.