India IPOs to raise US$30 billion over the next 12 months, country’s top arranger says
The IPO filings reflect ‘deepening confidence of issuers in India’s capital markets’, Kotak Mahindra Capital’s investment banking head says
Around 150 companies are planning to tap the equity market, V Jayasankar, head of investment banking at Kotak, the country’s top arranger for equity deals this year, said in an interview.
India’s IPO market had a slow start to the year after companies raised a record US$21 billion in 2024. But activity has picked up in recent months.
A number of billion-dollar deals are on their way, with this month’s solid debut by HDB Financial Services also boosting sentiment. The shadow lender’s US$1.5 billion IPO was India’s biggest in 2025.
Overall IPO proceeds for this year stand at US$7 billion, and Jefferies Financial Group expects up to US$18 billion to be raised in the second half.