The Indian IPO market has seen unprecedented growth recently, making India an attractive destination for global corporations seeking equity funding. According to Pantomath Group, companies like Hyundai India and LG are planning to launch their IPOs, encouraging other multinational companies with significant market shares to do the same.
Post-Election Surge Expected
With the general elections now over, analysts predict a busy second half for the IPO market. Up to 55 companies are expected to raise around ₹68,000 crore. Improved market sentiment and a stable economic environment are key factors driving this trend. Additionally, the success of several IPO listings in the first half of 2025 is likely to maintain this momentum.
Expert Insights
“We are on the brink of sustained, long-term momentum in the IPO market, with this year potentially becoming the best for IPOs. India’s solid macroeconomic environment and promising growth prospects create an ideal backdrop for this vibrant market,” said Pantomath Capital Advisors.
Thriving Activity
The Indian IPO market is characterized by a significant increase in the number of companies seeking to list their shares and a corresponding rise in capital raised. This trend highlights a period of strength and dynamism within the Indian financial landscape, according to a report by Pantomath. In the first half of 2025, 35 mainboard IPOs raised around ₹32,000 crore, with an average subscription rate of 61 times. These companies span various sectors, including coworking spaces, furniture retailing, and online ticket booking.
Strong Retail Participation
Most IPOs saw strong retail buying, indicating that domestic investors are optimistic about India’s growth story, thanks to policy continuity, pro-growth government measures, low inflation, and the beginning of the interest rate cut cycle.
Golden Age of the IPO Market
“The Indian primary IPO market is experiencing a golden age. Fuelled by a robust domestic economy and brimming with investor confidence, it’s become a launchpad for growth-hungry companies and a feeding ground for eager investors,” Pantomath said. More early-stage companies are also opting for IPOs, leading to an increase in the number and size of IPOs.
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