IPO storm to hit D-st in December with over a dozen issues as Sensex, Nifty hit news highs
As the market participants are starting the last month of the calendar year, primary market action is likely to return at Dalal Street to end the year with a bang.
- Nov 27, 2025,
- Updated Nov 27, 2025 3:47 PM IST
Indian benchmark indices-BSE Sensex and Nifty50- hit new highs on Thursday, before giving up gains in the second half of the session. As the market participants are starting the last month of the calendar year, primary market action is likely to return at Dalal Street to end the year with a bang.
According to the sources, more than a dozen companies are likely to launch their initial public offering (IPOs) in December, eyeing to raise around Rs 50,000 crore from investors. This fund raise will make 2025 as the biggest year in terms of fund mobilization via primary market route.
Primary markets mostly accelerate when benchmarks reclaim highs, volatility stays low, and liquidity remains strong, and that is exactly the environment developing, said Harshal Dasani, Business Head at INVasset PMS. "Volatility is subdued, which historically helps issuers price deals more confidently and encourages fuller subscription books," he said.
A swing factor remains foreign participation: while FPIs have been net sellers through most of 2025, outflows have begun to moderate as India’s earnings visibility improves. If global risk conditions stay benign and rates drift lower, a fuller slate of mainboard IPOs is likely to lean into the momentum window through late December and early Q1 2026, Dasani said.
The current year's tally is likely to hit the Rs 2 lakh crore mark, with more than 100 companies making their Dalal Street debut. This will outpace the fundraising in 2024, when 91 companies raise nearly 1.6 lakh crore from their maiden offers. Market participants see not dearth of actions in the IPO market in the coming weeks, considering the return of bulls lately.
Echoing the same views, Prasenjit Paul, Research Analyst at Paul Asset & Fund Manager at 129 Wealth Fund said that IPO activity increases significantly when the secondary market performs well. Adequate liquidity and positive investor sentiment are the two primary ingredients for a successful IPO.
According to the source privy to Business Today, as many as 15 companies are likely to make their stock market debut in December 2025. The list includes names like Meesho, ICICI Prudential Asset Management Company, Milky Mist Dairy Foods, Cleanmax Enviro Energy Solutions, Juniper Green Energy, Park Medi World, Casagrand Premier Builder and Aequs.
Other names like Safex Chemicals, Waterways Leisure Tourism, Fractal Analytics Innovatiview India, Fractal Analytics, Curefoods India, Vidya Wires, Credila Financial Services, Amagi Media Labs, Wakefit Innovations and NephroPlus are other key names that may launch their IPOs in the current calendar year.
Sunny Agrawal, Head of Fundamental Research at SBI Securities said that strong domestic liquidity coupled with limited opportunities in the secondary market is leading to robust primary market sentiments. DIIs are flushed with strong inflows every month and majority of the same is giving easy access of capital to promoters, PE firms and businesses.
"Investors should be very selective when investing in the IPOs from the long term perspective. History suggests that many stocks are likely to trade below issue price 4-6 quarters down the line. Only businesses with robust growth potential are likely to deliver healthy returns over the long term," he advised.
Market experts suggest that investors should not blindly follow the suit and apply for IPOs following grey market premia. One should do their homework as such improper investment decisions may backfire. They re-emphasize on the fact that investors should check the fundamentals, valuations compared to peers, and the usage of IPO proceeds.
"Favour IPOs where proceeds are being deployed toward capacity expansion or balance-sheet strengthening rather than high-multiple exits. Apply at the cut-off but avoid leverage and size allocations assuming meaningful post-listing volatility, Dasani adds. "Be disciplined with peer comparisons and check whether margins and return ratios are sustainable across cycles."
Indian benchmark indices-BSE Sensex and Nifty50- hit new highs on Thursday, before giving up gains in the second half of the session. As the market participants are starting the last month of the calendar year, primary market action is likely to return at Dalal Street to end the year with a bang.
According to the sources, more than a dozen companies are likely to launch their initial public offering (IPOs) in December, eyeing to raise around Rs 50,000 crore from investors. This fund raise will make 2025 as the biggest year in terms of fund mobilization via primary market route.
Primary markets mostly accelerate when benchmarks reclaim highs, volatility stays low, and liquidity remains strong, and that is exactly the environment developing, said Harshal Dasani, Business Head at INVasset PMS. "Volatility is subdued, which historically helps issuers price deals more confidently and encourages fuller subscription books," he said.
A swing factor remains foreign participation: while FPIs have been net sellers through most of 2025, outflows have begun to moderate as India’s earnings visibility improves. If global risk conditions stay benign and rates drift lower, a fuller slate of mainboard IPOs is likely to lean into the momentum window through late December and early Q1 2026, Dasani said.
The current year's tally is likely to hit the Rs 2 lakh crore mark, with more than 100 companies making their Dalal Street debut. This will outpace the fundraising in 2024, when 91 companies raise nearly 1.6 lakh crore from their maiden offers. Market participants see not dearth of actions in the IPO market in the coming weeks, considering the return of bulls lately.
Echoing the same views, Prasenjit Paul, Research Analyst at Paul Asset & Fund Manager at 129 Wealth Fund said that IPO activity increases significantly when the secondary market performs well. Adequate liquidity and positive investor sentiment are the two primary ingredients for a successful IPO.
According to the source privy to Business Today, as many as 15 companies are likely to make their stock market debut in December 2025. The list includes names like Meesho, ICICI Prudential Asset Management Company, Milky Mist Dairy Foods, Cleanmax Enviro Energy Solutions, Juniper Green Energy, Park Medi World, Casagrand Premier Builder and Aequs.
Other names like Safex Chemicals, Waterways Leisure Tourism, Fractal Analytics Innovatiview India, Fractal Analytics, Curefoods India, Vidya Wires, Credila Financial Services, Amagi Media Labs, Wakefit Innovations and NephroPlus are other key names that may launch their IPOs in the current calendar year.
Sunny Agrawal, Head of Fundamental Research at SBI Securities said that strong domestic liquidity coupled with limited opportunities in the secondary market is leading to robust primary market sentiments. DIIs are flushed with strong inflows every month and majority of the same is giving easy access of capital to promoters, PE firms and businesses.
"Investors should be very selective when investing in the IPOs from the long term perspective. History suggests that many stocks are likely to trade below issue price 4-6 quarters down the line. Only businesses with robust growth potential are likely to deliver healthy returns over the long term," he advised.
Market experts suggest that investors should not blindly follow the suit and apply for IPOs following grey market premia. One should do their homework as such improper investment decisions may backfire. They re-emphasize on the fact that investors should check the fundamentals, valuations compared to peers, and the usage of IPO proceeds.
"Favour IPOs where proceeds are being deployed toward capacity expansion or balance-sheet strengthening rather than high-multiple exits. Apply at the cut-off but avoid leverage and size allocations assuming meaningful post-listing volatility, Dasani adds. "Be disciplined with peer comparisons and check whether margins and return ratios are sustainable across cycles."