India's primary market is preparing for a frenetic close to 2025, as public issues worth almost Rs. 30,000 crore are lined up to hit the streets this December.
As many as 25 different IPOs are expected to hit the market, a full-throttle pace compared with previous months, after Rs. 45,188 crore was mobilized in October and Rs. 23,613 crore last month, according to market players.
Heading the list are high-profile offerings, including ICICI Prudential Asset Management Company (ICICI Pru AMC) with a proposed issue size of around Rs. 10,000 crore. Fast-growing e‑commerce firm Meesho is expected to raise Rs. 5,400–6,000 crore, while renewable-energy platform Clean Max Enviro Energy Solutions plans an issue of Rs. 5,200 crore.
Analytics and AI firm Fractal Analytics aims to raise approximately Rs. 4,900 crore, and green-energy company Juniper Green Energy is looking at around Rs. 3,000 crore.
The mid‑cap segment is also active, with Wakefit Innovations and Innovatiview (about Rs. 1,500 crore each), Park Medi World (about Rs. 1,200 crore), Nephroplus (about Rs. 1,000 crore), and Aequs (about Rs. 1,000 crore) preparing to tap public markets.
This rush is more than a calendar-year-end sprint for market veterans. The strong pipeline in December “reflects a meaningful confluence of entrepreneurial energy and discerning investor appetite,” according to JM Financial Institutional Securities Ltd.
This momentum is underpinned by robust structural liquidity, with regular inflows from retail investors, systematic investment plans, and domestic institutions that have absorbed even large OFS transactions without destabilising liquidity in the market.
If all goes well, assuming market sentiment holds, and macro conditions remain stable, this wave could push total primary market mobilisation for 2025 well past the approximately Rs. 1.5 lakh crore that was raised in 2024. For companies, it is a bold vote of confidence, and investors will have a chance to ride what may well be India's biggest IPO wave to date.