New Delhi — India is expected to surpass its 2024 IPO record, with several major offerings scheduled in the coming months. According to JPMorgan Chase, easing regulations, faster approvals, and strong equity valuations are helping drive momentum, despite global headwinds.
IPO Performance So Far
In the first half of 2025, Indian markets witnessed 108 IPOs that raised $4.6 billion, representing 8% of global IPO proceeds. The US and China accounted for 28% and 34% respectively. Till August, Indian companies had already raised $8.2 billion through 49 IPOs. In 2024, companies raised $20.5 billion via 91 IPOs, making India the second most active IPO market after the US.
- India IPO Market Poised to Beat 2024 Record
- LG, Pine Labs, Groww Among Upcoming Listings
- Global Headwinds Persist, But Momentum Strong
Supportive Reforms and Upcoming Listings
Policy reforms such as quicker approvals and reduced float requirements have eased IPO launches. Among the major names preparing for issues are LG Electronics’ India unit, fintech firm Pine Labs, and investment platform Groww.
Global Challenges and Domestic Strength
Foreign investors have withdrawn nearly $15.7 billion from Indian equities this year, reflecting concerns over corporate earnings and global pressures. However, strong domestic participation is keeping IPO demand healthy.
Focus on Quality Over Quantity
The EY Global IPO Trends report shows a 30% decline in the number of IPOs in early 2025, while fundraising dipped only 2% year-on-year. Experts say the market is shifting toward fewer but higher-quality listings backed by strong fundamentals and clear growth visibility.
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