IPO Fundraising Jumps 45% to ₹45,350 Crore Defying Global Headwinds

India's primary market staged a robust performance in the first half of 2025, with fundraising via initial public offerings (IPOs) rising sharply to ₹45,350 crore, as per news reports. This represents a 45% increase from the same period last year, even as the number of IPOs dropped, reflecting a shift towards larger issue sizes. 

IPO Volume Dips, Size Grows Amid Global Headwinds

As per news reports, between January and June 2025, only 24 IPOs hit the market, down from 36 in the corresponding period of 2024. However, the total fundraising surged from ₹31,281 crore to ₹45,351 crore, underscoring the growing average size of public issues.

Major offerings included HDB Financial Services (₹12,500 crore), Hexaware Technologies (₹8,750 crore), Schloss Bangalore (₹3,500 crore), and Ather Energy (₹2,981 crore). Many issues featured a mix of fresh equity and offer-for-sale components, with proceeds channelled into business expansion, debt repayment, and working capital.

High Returns, Rising Filings Signal Confidence 

Investors saw attractive gains, with 67% of IPOs listing at a premium and average returns touching 25%. Encouraged by this momentum, 118 companies filed draft red herring prospectuses (DRHPs) with SEBI in H1 2025, up from 52 last year.

JM Financial topped the IPO league table for Q1FY26, leading both volume and value with 10 issuances that collectively raised ₹26,838 crore, as per Prime Database.

Most IPO-bound firms were from industrial sectors such as manufacturing and infrastructure, indicating investor preference for core economic plays. Meanwhile, July has already seen four IPO launches, with at least 5 more lined up, suggesting continued market activity.

Also Read: India's Startup Forum Aims to Unlock $90 Billion in IPOs with New Hub

Conclusion

Despite global challenges, India’s IPO market has delivered a strong first-half performance in 2025, driven by higher average issue sizes, solid investor returns, and growing pipeline activity. While H2 outlook remains optimistic, it will depend on earnings momentum, global trade progress, and liquidity trends to sustain this upward trajectory.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

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