Indian companies raise record ₹1.95 trillion through over 365 IPOs in 2025: Motilal Oswal Report

Key Highlights

• Mainboard listings continued to dominate the market, accounting for nearly 94% of the total funds raised in 2025.
• Of the 365 IPOs this year, 106 were mainboard issues, contributing ₹1.83 trillion, while the remaining 259 SME (Small and Medium Enterprises) IPOs together raised a relatively modest share of capital.
• Over the past two years, just 198 mainboard companies have raised ₹3.6 trillion, underlining their outsized role in capital formation.
• The year also witnessed Tata Capital raising ₹155 billion in October 2025, the fourth-largest IPO in the country's history.
• The report highlights a notable diversification in sector participation.