100 not out: 2025 sees record mainboard IPOs; check year-wise trend over the past decade

2025 turned out to be a distinguished year for investors interested in initial public offerings, as 100 mainboard IPOs hit the stock markets. Throughout the year, the exchanges saw a dynamic set of listings, spanning from new-age companies to established players.

The standout offerings this year include Tata Capital's mega ₹15,511.87 crore IPO and HDB Financial Services' ₹12,500 crore share sale. LG Electronics India also raised ₹11,607.01 crore from the primary market.

Notably, this is only the second time that the primary market has touched the 100 listings mark, the first being in 2007. That year’s listings included companies such as DLF, Power Grid Corporation of India, Idea Cellular, Mundra Port & Special Economic Zone Ltd, Housing Development & Infrastructure Ltd, and Power Finance Corporation, among others.

Mainboard IPOs from 2016 to 2025

Among the mainboard IPOs in 2025, Stallion India Fluorochemicals Ltd, which specialises in selling refrigerant and industrial gases, has risen the most from the issue price. The stock is trading at ₹215.9 per unit, up 139.88% from the IPO issue price of ₹90. The ₹199.45 crore issue was a mix of fresh issuance of shares worth ₹160.73 crore and an offer for sale (OFS) of ₹38.72 crore.

Shares of video security and surveillance solutions provider Aditya Infotech, which operates under the brand 'CP Plus', are up 128.37% to ₹1,541.5 apiece from the issue price of ₹675. The ₹1,300 crore IPO was a mix of new shares valued at ₹500.36 crore and an OFS of ₹799.64 crore.