IPO Report for 2025
A new Venture Capital Report is on the horizon, but for now, investors can delve into the M&A Report and the latest IPO Report for 2025. Subscribing to the mailing lists keeps you updated on IPOs and capital markets movements.
The IPO Report provides a comprehensive review of the IPO market and outlook, offering valuable insights into the dynamic and competitive market of 2025. The report includes a breakdown of IPOs by industry, leading states, IPO market numbers, and preparation tips for pre-IPO companies.
Industry Breakdown and Market Numbers
In 2025, a total of 48 companies have gone public in the Indian market, raising around ₹64,135 crore. This is a decrease compared to the 90 IPOs raising ₹1,59,535 crore in 2024, indicating a cooling-off phase in IPO frenzy. Key sectors active in IPOs include financial services, manufacturing, technology, energy, and infrastructure.
The market saw a mixed performance, with 30 IPOs listing with gains, some delivering returns of up to 95%, while others opened below issue price. Notable performers include Prostarm Info Systems (market cap ~Rs. 1,208 crore) and NSDL (IPO size over Rs. 4,000 crore), both showing strong listing performances.
Leading States or Regions
Though the report does not explicitly list leading states, companies like NSDL, JSW Cement, and others typically represent major industrial or financial hubs in India such as Maharashtra, Gujarat, Karnataka, and Delhi-NCR regions by their headquarters and operations.
Market Trends
Given the cooling demand, companies are slashing issue sizes to attract investors. Major IPOs, such as the anticipated NSE IPO, continue through Offer for Sale (OFS), with existing shareholders divesting stakes instead of fresh equity issuance. This strategy reflects heightened investor selectivity and an abundance of available IPO options, creating a buyer's market.
Preparation Tips for Pre-IPO Companies
Pre-IPO companies are advised to emphasize robust financial disclosures, clear business models, and adjust issue sizes and price bands in line with current market appetite to enhance success chances. Early focus on professional guidance and merchant banking partnerships is critical for navigating regulatory and market environment challenges.
The report also covers pre-IPO communications, testing the waters to find IPO investors, and preparing cybersecurity disclosures. It discusses the prevalence of EGC elections, the profile of successful IPO candidates, and the number of IPOs from the leading states over the past five years. Additionally, the report provides information on assembling a board of directors for pre-IPO companies.
In summary, the latest IPO environment in 2025 is characterized by strong investor returns in select stocks, cooling overall demand leading to smaller issue sizes, and a diverse sector representation primarily in financial services, tech, cement, and infrastructure. Pre-IPO companies should carefully calibrate their offerings, align with market expectations, and engage in rigorous regulatory and market readiness to succeed in this competitive environment.
Partners Molly W. Fox and Caroline Dotolo lead the teams responsible for this comprehensive report in the Corporate Practice.
The IPO Report offers valuable finance insights, specifically discussing the IPO market and outlook for 2025. Additionally, the report provides a detailed look into venture capital, as it breaks down companies that have gone public in the Indian market by industry, leading states, and IPO market numbers, offering crucial advice for pre-IPO companies.
