The Indian IPO market in 2025 witnessed 18 new-age tech startups collectively raising ₹41,283 crore, showing increased investor participation and enhanced profitability across sectors like fintech, ecommerce, and coworking.
In 2025, 18 startups went public, a 38% increase from 13 in 2024 and more than triple the 5 seen in 2023. These listings raised a total of ₹41,283.2 crore. Of this, ₹21,474.3 crore came via Offer For Sale (OFS) and ₹19,809.6 crore through fresh equity issues. This marked an increase from 2024, when startups raised ₹29,070 crore via IPOs, combining ₹18,770 crore through OFS and ₹10,300 crore in fresh issues.
The raised capital largely supported expansion strategies while OFS allowed early investors and founders to monetise their holdings after years of equity build-up. Fintech, consumer internet, electric vehicles, SaaS and coworking sectors saw significant traction in terms of IPO activity.
Coworking firms played a major role, with 4 companies — Smartworks, DevX, IndiQube, and WeWork India — getting listed. Smartworks saw a 7.14% premium listing. In contrast, DevX and WeWork India had muted debuts. IndiQube listed 7.7% below issue price at ₹218.7. Despite mixed outcomes, the listings reflected interest in India’s flexible workspace sector.
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Groww led fintech listings with an IPO of ₹6,632 crore, including a ₹5,572.3 crore OFS. Pine Labs raised ₹3,900 crore and listed at a 9.5% premium. In ecommerce, Meesho debuted at a 45% premium, while Lenskart and ArisInfra made subdued entries. Lenskart raised ₹5,128.02 crore through OFS and ₹2,150 crore fresh issue, while ArisInfra faced a 40% post-listing drop.
OFS featured heavily, offering exit options to early stakeholders. Groww, Lenskart and WeWork India had large OFS components. OFS of ₹5,572.3 crore for Groww and ₹5,128.02 crore for Lenskart were notable. WeWork India’s ₹3,000 crore IPO was fully OFS.
The year 2025 saw a significant rise in new-age tech companies opting for IPOs, reflecting growing market maturity. With ₹41,283 crore raised, key sectors like fintech and coworking played substantial roles, and OFS emerged as a favoured structure for investor exits.
Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or 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.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Dec 17, 2025, 10:42 AM IST
Team Angel One
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