India's 2025 IPO Market: Key Trends, Largest & Smallest Issues

India's mainboard IPO market witnessed a robust 2025 with 101 public issues raising ₹1,71,368 crore. Tata Capital led as the largest IPO, while Jinkushal Industries was the smallest. Startup IPOs also played a crucial role in enabling ESOP exits for employees.

• 101 mainboard IPOs launched in India by December 19, 2025.
• Total funds raised through IPOs reached ₹1,71,368 crore in 2025.
• Tata Capital's ₹15,512 crore public issue was 2025's largest IPO.
• Jinkushal Industries recorded 2025's smallest IPO at ₹116 crore.
• Startup IPOs provided significant liquidity for employee ESOPs.
• Four mainboard IPOs individually raised over ₹10,000 crore.

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