The Indian IPO market is gearing up for its biggest week of 2025

India's equity markets may have blown more cold than hot in 2025, but the primary market was hot in 2024, remained hot in the first nine months of 2025, and is only set to get hotter in the final three months of the year, with next week being the crescendo.

Companies have already raised more than ₹1 lakh crore from the primary markets in the first nine months of the year so far. Next week will see two out of the three biggest IPOs of 2025 opening for subscription in the form of Tata Capital (₹15,500 crore) and LG Electronics India (₹11,607 crore.)

Come next Tuesday, three IPOs, worth ₹30,000 crore will be vying for investor attention at the same time. Here's how:

• Final day of bidding for WeWork India's ₹3,000 crore issue


• Second day of bidding for the Tata Capital IPO worth over ₹15,500 crore


• Opening day of bidding for LG Electronics India's ₹11,607 crore issue

The IPO rush picked up pace in the July-September period, with as many as 50 mainboard IPOs hitting the primary markets. As of last Tuesday, 35 out of the 60 listings so far in 2025 were trading below their issue price. Two listings that took place on Wednesday also were at a discount, while among the four listings, that took place on Tuesday, three closed below their issue price, barring Anand Rathi Shares & Stock Brokers.

"There is a class of retail investors, which follows the quick money addiction habit. They all believe that ₹10 NAV, ₹10 NFO, is a good thing to own. Similarly, they have misconception that IPO will always list at a premium and you will make money. Both this myths are wrong, but many a times, people, instead of learning from other people's experience, learn by committing mistake," Nilesh Shah, MD at Kotak Mahindra AMC told CNBC-TV18.

Tata Capital's IPO, which is a mix of a fresh issue of shares along with an Offer for Sale (OFS), will now surpass HDB Financial Services' ₹12,500 crore issue to become the largest IPO of the year.

LG Electronics will become the third largest.

The pipeline continues to remain buzzing as well. Even after these mega IPOs, issues such as ICICI Prudential AMC, Pine Labs, Groww, two IPOs from Canara Bank's stable, Physicswallah, and Hero Fincorp, are also lined up, setting the stage for 2025 to become the biggest year of IPO fund raising on record.

"My recommendation to investors, please don't make mistake on your own. Learn from our experience and go for those IPOs where you believe there is a reasonable institutional participation. And when I say institutional participation, I'm more talking about mutual funds, insurance companies and pension funds, rather than individual family offices kind of companies," Kotak Mahindra AMC's Shah said.