Primary market gaining steam

New Delhi: The Indian Initial Public Offering (IPO) market is experiencing a blockbuster year in 2025, with companies already raising close to Rs85,000 crore through 74 mainboard offerings as of September. The momentum is expected to pick up speed in October, with upcoming listings from Tata Capital and WeWork poised to push the total past the Rs1 lakh crore milestone for just the third time in history.

Tata Capital’s Rs16,000-crore IPO will be one of the biggest upcoming share sales.

The IPO will open for subscriptions from October 6 to 8. Additionally, between October 3 and 7, WeWork India plans to enter the market with a Rs3,000-crore offering. When combined, the two offerings will surpass the psychological figure of the Rs1 lakh crore fundraising milestone in 2025.

Earlier, in 2021 and 2024, the IPO market crossed this threshold. In 2021, companies raised Rs1.19 lakh crore through 63 IPOs, while in 2024, the figure jumped to Rs1.6 lakh crore from 91 initial offers. As per reports, the numbers are expected to surpass all the records this year.

LG India is reportedly preparing for a Rs15,000-crore issue in the first half of October, which could lift the fundraising tally to over Rs1.3 lakh crore.

Several more prominent players — including ICICI Prudential, Groww, Pine Labs, Canara HSBC Life, Credila Financial, and Physics Wallah— are also in the process of entering the market before year-end.