India’s primary market experienced an extraordinary surge in October, establishing a new record for the busiest month ever for mainboard initial public offerings (IPOs). So far, 14 companies have entered the market, aiming to raise over Rs 46,000 crore. This month has marked a new high for monthly fundraising in the domestic capital markets, significantly propelled by two major listings, Tata Capital and LG Electronics India, which together contributed more than half of the total amount raised. Tata Capital secured Rs 15,512 crore, while LG Electronics India garnered Rs 11,607 crore through their respective share sales.
The momentum further intensified with Lenskart Solutions scheduled to launch its Rs 7,278-crore issue on October 31, concluding an eventful primary calendar that also included offerings from WeWork India, Canara HSBC Life Insurance, Orkla India, and Rubicon Research. This remarkable achievement has surpassed the previous monthly record of October 2024, when six IPOs raised Rs 38,690 crore. Furthermore, these latest figures exceed earlier highs recorded in November 2021 (Rs 35,665 crore from nine IPOs), November 2024 (Rs 31,145 crore from eight IPOs), and May 2022 (Rs 29,510 crore from eight IPOs).