IPO Market Update – Mid‑September 2025

Here’s a recent, up‑to‑date blog post draft on the IPO landscape (India + global) with current trends, major upcoming IPOs, regulatory shifts, and what investors should watch. I can tweak tone, add graphics/data, or tailor for your audie

Table of Contents

Global IPO Snapshot

In H1 2025, the global IPO market showed resilience despite volatility. There were 539 listings globally, raising about US$61.4 billion, a ~17% increase year‑over‑year.
GlobalData reports that in the first seven months of 2025, IPO proceeds globally climbed ~9.5% YoY to US$56.8 billion, even though the number of IPOs dropped.
Key sectors driving IPO activity: Technology & Communications, Financial Services, Pharmaceuticals & Healthcare, and Industrial Goods & Machinery.

India IPO Market: Trends & Highlights

India grabbed about 22% of global IPO activity in Q1 2025, raising US$2.8 billion from 62 IPOs through the NSE and BSE.
Although the number of IPOs fell (~20% fewer versus the same period last year), the proceeds remained high, reflecting larger deal sizes and investor preference for companies with strong fundamentals.
In H1 2025, 24 mainboard IPOs raised ~₹45,350 crore, up ~45% from H1 2024 (which had more IPOs but smaller in size)

Regulatory & Policy Shifts

SEBI made changes to ease foreign investor participation. Key adjustments include:
- A new single‑window clearance for sovereign and overseas retail funds.
- The minimum public float requirement (for very large companies) has been relaxed in timing: from 3 years to 5 years generally; up to 10 years for firms with post‑listing market caps above ₹1 trillion.
- For large IPOs (market cap > ₹5 trillion), the minimum share sale requirement has been lowered from 5% to 2.5%.

These changes are meant to make large IPOs easier to absorb and encourage more foreign capital inflow.

Some Recent & Upcoming IPOs in India

Urban Company, Shringar House of Mangalsutra, and Dev Accelerator are set to debut imminently. The Urban Company IPO has received especially strong attention.
Dev Accelerator IPO was fully subscribed on Day 1 at 5.53× (i.e. oversubscription by that much). Grey market premium (GMP) is ~13%.
Urban Company’s IPO was subscribed ~103.6×, making it one of the most subscribed issues in India in 2025.
Jinkushal Industries plans to open its IPO from 25‑29 September 2025, with a price band of ₹115‑121 per share. Listing expected on October 3 on BSE & NSE.
Saatvik Green Energy has its IPO opening on 19 September 2025, targeting investors interested in the green energy sector. Full details (price band, share count) are still awaited.

What This Means for Investors

Here are some implications and what to watch out for:

Larger IPOs + Fewer IPOs
The trend is fewer companies going public, but more capital being raised per IPO. Investors might see larger‑scale offerings from established firms rather than riskier small‑caps.
Sector Focus
Growth sectors like green energy, fintech, cloud/software (especially cybersecurity), health and life sciences are getting more attention. The Netskope IPO (US) is a recent example where investor demand pushed price band up.
Regulatory easing is making large IPOs more accessible, especially for foreign investors. But companies will still need strong financials and credible growth stories.
Listing performance will matter more: with high oversubscription and GMP (grey market premium) being closely watched, investors are trying to predict which IPOs will have a strong “listing pop.”
Valuation discipline is more important now. Given market volatility and economic uncertainties (inflation, interest rates, global trade tensions), IPOs that are over‑hyped without supportable earnings may underperform.

Key Risks & What Could Go Wrong

Overvaluation: If IPOs are priced too aggressively, the risk of correction on listing is higher.
Macroeconomic headwinds: Rising interest rates, global slowdown, trade tensions could dampen investor enthusiasm.
Regulatory changes midstream: While SEBI is currently easing some norms, future policy shifts or stricter controls (e.g., for disclosures, governance) might affect perception.
Investor sentiment: If recent listings underperform, sentiment could sour, reducing demand for upcoming IPOs.

Final Thoughts

The IPO market, both globally and in India, is in a phase of cautious optimism. While the number of IPOs may be down, the size, regulatory support, and investor interest in well‑positioned, high‑quality companies are keeping the space lively. For investors, the current environment means picking quality over quantity, doing thorough due diligence, and keeping an eye on valuation and sectoral tailwinds (like green energy, technology, fintech).

If you like, I can pull together data visualizations (charts of IPO proceeds, subscription trends etc.) or a sector‑wise comparison for upcoming IPOs to help readers visually digest this. Would you prefer that?

Let me know if you want this blog adjusted for a beginner audience, or for seasoned investors; also if you want to include specific IPOs you are interested in.Here’s a recent, up‑to‑date blog post draft on the IPO landscape (India + global) with current trends, major upcoming IPOs, regulatory shifts, and what investors should watch. I can tweak tone, add graphics/data, or tailor for your audience if needed.