IPO fundraising up 45% to Rs 45,350 cr in January-June

New Delhi: Fundraising through initial public offerings (IPOs) rose to Rs 45,350 crore in the first half of 2025, marking a 45 per cent increase from a year ago, despite global trade headwinds, geopolitical conflicts, and macroeconomic concerns.

However, the number of IPOs declined to 24 during the period under review from 36 in the January-June period of 2024, indicating a rise in the average size of public issues.

Going forward, the IPO market is expected to remain cautiously optimistic in the second half of 2025, supported by robust inflows of domestic investment, positive investor sentiment, and strong growth visibility, experts said.

According to data shared by merchant bankers, 24 companies mobilised Rs 45,351 crore in the January-June period of 2025, compared to Rs 31,281 crore raised by 36 firms during the same period last year.

“The first half of the year saw market sentiment tempered by ongoing global trade tensions, geopolitical uncertainties, and macroeconomic challenges. Despite these concerns, companies successfully raised over Rs 45,000 crore via IPOs during this period,” said Neha Agarwal, Managing Director and Head Equity Capital Markets, JM Financial Institutional Securities.

Adding to the momentum, the first half of 2025 also witnessed a sharp rise in draft IPO filings with the Securities and Exchange Board of India (Sebi).

A total of 118 companies submitted preliminary papers, up from 52 in the corresponding period of 2024.

JM Financial led the IPO league table, topping both volume and value charts with 10 issuances collectively raising Rs 26,838 crore in Q1FY26 alone, according to data from Prime Database.

During the January-June 2025 period, 24 mainboard IPOs were launched, with 67 per cent of them listing at a premium.

The overall performance of IPOs remained strong, delivering an average return of around 25 per cent to investors.