NewKerala.com

Key Points

India's IPO market is absolutely booming with Citigroup predicting it could raise a massive $20 billion over the next year. The country is set to become one of the world's most active equity markets alongside Hong Kong according to their analysis. We're seeing an incredible pipeline of upcoming listings from major companies across technology and consumer sectors. This explosive growth is being fueled by strong domestic investor participation even as foreign investors have pulled out billions this year.

Key Points: India IPO Market Set to Raise $20 Billion in Next Year

  • Citigroup forecasts $20 billion IPO fundraising in India over next 12 months
  • India expected to rival Hong Kong as world's most active equity market
  • Current pipeline includes major names like Reliance Jio and Pine Labs
  • Strong domestic liquidity from retail investors supports market boom
  • IPOs have already raised $12 billion in 2025 with October adding $5 billion
  • Several high-profile companies preparing listings including Meesho and Groww
2 min read

India's IPO market poised to raise $20 billion in next 12 months

Citigroup predicts India's IPO market could raise $20 billion in 12 months, rivaling Hong Kong as world's most active equity capital market

"India is likely to be the world's most active ECM market along with Hong Kong over the next year - Harish Raman, Citigroup"

New Delhi, Oct 10

India’s booming primary market continues to attract global attention, with Citigroup Inc. predicting that Indian initial public offerings (IPOs) could raise as much as $20 billion over the next 12 months.

The projection comes amid strong investor demand and a record pipeline of upcoming listings across technology, healthcare, and consumer sectors.

According to Citigroup, India could be among the world’s most active equity capital markets (ECM) alongside Hong Kong over the next year.

“India is likely to be the world’s most active ECM market along with Hong Kong over the next year,” said Harish Raman, Citi’s head of equity capital markets execution and solutions for Asia Pacific.

He added that the current pipeline is the biggest on record, including both domestic and international firms.

So far in 2025, IPOs have already raised $12 billion in India, with another $5 billion expected to be added in October alone.

The bullish forecast aligns with India’s ongoing IPO boom this year. As of September, reports said that the companies had raised nearly Rs 85,000 crore through 74 mainboard offerings.

LG India’s Rs 15,000-crore issue is likely to lift the tally further, taking total fundraising beyond Rs 1.3 lakh crore.

Several other high-profile names -- including Pine Labs, Meesho, ICICI Prudential Asset Management, Groww, and Physics Wallah -- are also preparing to tap the markets in the coming months.

Next year, Reliance Jio Infocomm Limited is expected to launch what could be India’s biggest IPO on record, the another report said.

Citigroup said the boom is supported by strong domestic liquidity, driven by millions of retail investors and mutual funds, even as foreign investors have pulled out over $15 billion this year amid global uncertainties.

Analysts say that despite concerns about US tariffs and weaker corporate earnings, India’s capital market remains resilient and continues to attract both institutional and retail participation.

According to analysts, India’s IPO frenzy reflects strong investor sentiment, robust corporate earnings, and the country’s growing appeal as a global investment destination.

- IANS

Share this article:

Reader Comments

R
Rohit P
While the numbers look impressive, I hope SEBI ensures proper due diligence. Some recent IPOs have seen massive listing gains but then corrected sharply. Retail investors need protection from volatility.
A
Arjun K
Amazing to see Indian startups like Meesho and Physics Wallah going public! This shows the maturity of our startup ecosystem. Hope more young entrepreneurs get inspired by this IPO boom. 🚀
S
Sarah B
As someone who recently moved to India for work, I'm impressed by the market depth. The domestic liquidity cushioning foreign outflows is particularly interesting. Great case study for emerging markets!
V
Vikram M
The fact that we're competing with Hong Kong in ECM activity speaks volumes about India's economic resilience. This IPO boom will create wealth for millions of Indian households through direct and indirect participation.
K
Kavya N
I just hope the valuations are reasonable. Some companies are coming with sky-high premiums. Retail investors like us need to be careful and not get carried away by the IPO frenzy. Do your research properly!

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Leave a Comment

Minimum 50 characters 0/50