The Indian primary market witnessed exceptional momentum during the period from December 2024 through early December 2025. A total of 344 companies entered the public markets, collectively raising ₹1.54 lakh crore. By historical standards, this level of capital mobilisation was remarkable, reflecting a strong alignment between entrepreneurial growth ambitions and investor demand. Below is a summary of the top IPOs in 2025 by issue size:
| Company | Issue Size (₹ Cr) | Subscription (X) | Listing Date | Close Price on Listing (Rs.) |
| Tata Capital Ltd. | 15,511.87 | 1.65 | Oct 13, 2025 | 330.50 |
| HDB Financial Services Ltd. | 12,500.00 | 13.07 | Jul 02, 2025 | 840.95 |
| LG Electronics India Ltd. | 11,607.01 | 38.03 | Oct 14, 2025 | 1,689.90 |
| ICICI Prudential AMC IPO | 10,602.65 | 39.17 | Dec 19, 2025 | |
| Hexaware Technologies Ltd. | 8,750.00 | 2.25 | Feb 19, 2025 | 762.55 |
| Lenskart Solutions Ltd. | 7,278.02 | 16.01 | Nov 10, 2025 | 403.10 |
| Billionbrains Garage Ventures Ltd. (Groww) | 6,632.30 | 10.09 | Nov 12, 2025 | 131.33 |
| Meesho Ltd. | 5,421.20 | 45.28 | Dec 10, 2025 | 170.09 |
| National Securities Depository Ltd. | 4,010.95 | 28.84 | Aug 06, 2025 | 936.00 |
| Pine Labs Ltd. | 3,900.17 | 1.81 | Nov 14, 2025 | 250.89 |
| JSW Cement Ltd. | 3,600.00 | 6.03 | Aug 14, 2025 | 146.07 |
The Tata Capital IPO was a book-built issue worth ₹15,511.87 crores, comprising a fresh issue of 21.00 crore shares amounting to ₹6,846.00 crores and an offer-for-sale of 26.58 crore shares aggregating ₹8,665.87 crores. The bidding period ran from October 6 to October 8, 2025, with allotments finalised on October 9. The shares were listed on BSE and NSE on October 13, 2025. The price band was set at ₹310–₹326 per share, with a lot size of 46 shares, requiring a minimum retail investment of ₹14,996 (based on the upper price).
HDB Financial’s IPO was a book-built issue of ₹12,500.00 crores, including a fresh issue of 3.38 crore shares worth ₹2,500.00 crores and an offer-for-sale of 13.51 crore shares worth ₹10,000.00 crores. The bidding occurred between June 25 and June 27, 2025, with allotments finalised on June 30. The shares were listed on July 2, 2025, on BSE and NSE. The price was fixed at ₹740 per share, with a lot size of 20 shares and a minimum retail investment of ₹14,000.
Also Read: SEBI Clears IPOs of 7 Companies, Including Yashoda Healthcare and Orient Cables
LG Electronics’ IPO was entirely an offer-for-sale issue of 10.18 crore shares totaling ₹11,607.01 crores. Bidding took place from October 7 to October 9, 2025, with allotments finalised on October 10. The shares were listed on October 14, 2025, on BSE and NSE. The price band was set at ₹1,140 per share, with a lot size of 13 shares, requiring a minimum retail investment of ₹14,820.
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.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Dec 17, 2025, 12:10 PM IST
Sachin Gupta
Sachin Gupta is a Content Writer with 6+ years of experience in the stock market, including global markets like the US, Canada, and Australia. At Angel One, Sachin specialises in creating financial content that simplifies complex market trends. Sachin holds a Master's in Commerce, specialising in Economics.
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