To date, 2025 has seen 93 mainboard listings, that includes names reminiscent of HDB Monetary Providers, Tata Capital, Groww, and Lenskart, in contrast with 76 throughout the identical interval in 2024.
Regardless of this rise in quantity, the entire funds raised stay virtually unchanged at Rs. 1.54 lakh crore versus Rs. 1.53 lakh crore final 12 months. The surge within the variety of points, together with solely a marginal enhance in whole fundraising, highlights softer demand and a better focus of small to mid-sized IPOs.
Investor enthusiasm additionally seems to be cooling. The typical oversubscription degree has dropped sharply in 2025. With 76 listings in 2024 as much as November, the typical oversubscription stood at 42 instances, however for the 93 listings thus far in 2025, it has slipped to 33 instances. This displays a noticeable shift in investor sentiment.
The IPO increase in 2024 was largely fuelled by retail traders chasing fast itemizing good points. Retail oversubscription averaged 33 instances final 12 months however has fallen to 25 instances in 2025. This subdued retail participation stems from a number of international and home uncertainties, coupled with the general lacklustre efficiency of Indian markets this 12 months.
The desk beneath checklist the highest 15 finest performers amongst 2025 IPOs
| Firm Identify | Situation dimension (Rs cr) | Situation worth (Rs) | Itemizing date | Itemizing day returns (%) |
|---|---|---|---|---|
| Freeway Infrastructure | 130 | 70 | 12-Aug-25 | 75.5 |
| City Firm | 1900 | 103 | 17-Sep-25 | 62.2 |
| Aditya Infotech | 1300 | 675 | 05-Aug-25 | 60.6 |
| Quadrant Future Tek | 290 | 290 | 14-Jan-25 | 54.7 |
| LG Electronics India | 11605 | 1140 | 14-Oct-25 | 48.2 |
| Physicswallah | 3480 | 109 | 18-Nov-25 | 44 |
| GNG Gng Electronics | 460 | 237 | 30-Jul-25 | 40.7 |
| Stallion India Fluorochemicals | 199 | 90 | 23-Jan-25 | 40 |
| Jain Useful resource Recycling | 1250 | 232 | 01-Oct-25 | 37.2 |
| Ellenbarrie Industrial Gases | 853 | 400 | 01-Jul-25 | 35.3 |
| Globe Civil Tasks | 119 | 71 | 01-Jul-25 | 33.4 |
| Sri Lotus Builders & Realty | 792 | 150 | 06-Aug-25 | 31.2 |
| Billionbrains Storage Ventures | 6632 | 100 | 12-Nov-25 | 30.9 |
| Rubicon Analysis | 1378 | 485 | 16-Oct-25 | 29.4 |
| Regaal Sources | 306 | 102 | 20-Aug-25 | 29.1 |
Written by – Manan Gangwar
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