Why India’s 2025 IPO wave failed retail investors
Last Updated : Dec 12 2025 | 6:55 PM IST
India saw 232 IPOs in 2025, a record year. But behind the frenzy was a harsh truth: from tech unicorns to big consumer brands, many of the year’s most hyped IPOs failed to deliver returns. Why did India’s biggest listings disappoint? And what went wrong with the 2025 IPO dream?