How 2025 Became the Year of the Indian IPO

Indian companies of all stripes — from insurers to jewelers and e-commerce platforms — rushed to sell shares to the public in 2025, making it a record year for listings. Foreign and domestic investors alike piled in, with bankers working overtime to get deals across the line.

It wasn’t just the number of initial public offerings that was remarkable, but the sheer volume of capital involved: $22 billion, the highest annual total ever. Bankers say another record year in 2026 is not off the table.