India’s IPO Market Surges: Record Listings & Fundraising
By IPO Desk
India’s primary market witnesses unprecedented growth with 999 IPOs raising over Rs 9.83 lakh crore since 2002, driven by record-breaking years in 2024 and 2025.
India’s IPO market has seen 999 companies raise Rs 9,83,497 crore through public listings since 2002. This significant boom transformed the primary market over two-and-a-half decades, culminating in record fundraising years recently.
- Total IPOs (2002-August 2026): 999 companies
- Total Capital Raised (2002-August 2026): Rs 9,83,497 crore
- Biggest Year (2025) Issues: 103 companies
- Biggest Year (2025) Capital: Rs 1,75,914 crore
- Previous Record (2024) Issues: 91 companies
- Previous Record (2024) Capital: Rs 1,59,784 crore
- 2026 (by August) Issues: 61 companies
- 2026 (by August) Capital: Rs 73,057 crore
Fundraising accelerated notably in recent years. 2025 marked the largest year for IPOs by both number of issues and capital, surpassing the previous record set in 2024.
Market Cycles and Notable Years
The market experienced cycles of boom and slowdown. Significant fundraising periods included 2007, when 100 companies raised Rs 34,179 crore, and 2021, with 63 IPOs raising Rs 1,18,723 crore.
Following moderation in 2022 and 2023, market activity rebounded robustly in 2024 and 2025.
Largest IPOs by Value
- Hyundai Motor India (2024): Rs 27,870-crore
- Life Insurance Corporation of India (LIC) (2022): Rs 20,557 crore
- Paytm (2021): Rs 18,300-crore
- Other major listings mentioned include Coal India (2010), Tata Capital (2025), HDB Financial Services, Reliance Power, LG Electronics India, Swiggy, General Insurance Corporation, ONGC (2004), SBI Cards (2020), New India Assurance (2017), Zomato (2021), and HDFC Life (2017).
The sustained growth highlights the increasing role of equity markets in corporate fundraising. This is supported by growing investor participation and enhanced market infrastructure.