This has been an excellent year for the primary market. By this time of the year (early December), initial public offerings (IPOs) are estimated to have raised ₹1.77 trillion (roughly $20 billion), marginally higher than last year’s figure. Many IPOs have got oversubscription, and there’s every chance that the final figure for the year will be significantly higher than last year’s. Indeed, by December 16, five more IPOs are scheduled to close, including the ICICI Prudential Asset Management mega issue. One trend worth noting is an increasing component of offer for sale (OFS), which constitutes around 60 per
Thursday, December 11, 2025 | 12:17 AM ISTहिंदी में पढें
IPO mania is the new normal but the real test remains value creation
This is part and parcel of a market where many startups seek listing, which in itself is not an unhealthy trend
 "mainboard IPOs, IPO launches, primary market, IPO mobilisation, fundraising, record year, Rs 1.7 trillion, Park Medi World, Corona Remedies, Nephrocare Health, Wakefit Innovations, ICICI Prudential Asset Management IPO, Nifty, Nifty Midcap 100, Nifty")
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Despite heavy FPI selling, major indices like the Nifty 50 have hit recent all-time highs. So the apparent correlation between a bullish secondary market and strong primary market has not broken. (Illustration: Binay Sinha)
