Big Bets of 2025: Tracking India’s Largest IPO Performances

This company had already seen a bumper year by then, with some massive IPOs popping up to entice investor interest, and at least one IPO exceeding the ₹15,000 crore mark, while several others marked over ₹10,000 crore that brought unwavering confidence in the Indian capital markets. In fact, a more than a hundred mainboard IPOs were unleashed in 2025, making this year an immensely active one for public listings.

At the crest of this wave, drawing a massive ₹15,511.87 crores was an IPO from Tata Capital, which thus became the largest public issue of the year. Other reputed public issues were released by HDB Financial Services, LG Electronics India, ICICI Prudential Asset Management Company (AMC), Hexaware Technologies, Lenskart Solutions, and Billionbrains Garage Ventures (Groww).

The ICICI Prudential AMC IPO is gaining an overwhelming response and has already been oversubscribed by the second day of bidding. The issue has aimed to garner a considerable sum of ₹10,602.65 crore through the offer-for-sale (OFO) mode of over 4.89 crore shares by its promoter, Prudential Corporation Holdings, UK. The company will not be receiving any proceeds as there is no fresh issue. Listings have been slated on December 19.

Biggest IPOs 2025: Size & Performance on the Market

Top IPOs and their performance post-listing:

Tata Capital

• Size: ₹15,511.87 crore
• Price: ₹326
• Current: ₹322.55 (-1%)

HDB Financial Services

• Size: ₹12,500 crore
• Price: ₹740
• Current: ₹753.75 (+1.85%)

LG Electronics India

• Size: ₹11,607.01 crore
• Price: ₹1,140
• Current: ₹1,572.8 (+37.96%)

ICICI Prudential AMC

• Size: ₹10,602.65 crore
• Price Range: ₹2,061 – ₹2,165
• Status: Yet to be listed

Hexaware Technologies

• Issue Size: ₹8,750 crore
• Issue Price: ₹708
• Current Status (Price): ₹774.5 (+9.39%)

Lenskart Solutions

• Issue Size: ₹7,278cr
• Issue Price: ₹402
• Current Status (Price): ₹407(+1.24%)

BillionBrains Garage Ventures (Groww)

• Issue Size: ₹6,632.30 crore
• Issue Price: ₹100
• Current Status (Price): ₹145.15(+45.15%)

Meesho

• Issue Size: ₹5,421.20 crore
• Issue Price: ₹111
• Current Status (Price): ₹162.99(+46.83%)

NSDL

• Issue Size: ₹4,010.95 crore
• Issue Price: ₹800
• Current Status (Price): ₹1,071.85(+33.98%)

Pine Labs

• Issue Size: ₹3,900.17 crore
• Issue Price: ₹221
• Current Status (Price): ₹231.5 (+4.75%)

Tata Capital IPO: A Market Heavyweight

The Tata Capital IPO valued at ₹15,511.87 crore consisted of a fresh issue of 21 crores shares valued at ₹6,846 crore and an Offer for Sale (OFS) of ₹8,665.87 crore. With its sheer size, the share is currently in the secondary market trading below its issued price. During the quarter of FY23, the company saw an increase of 2% in consolidated net profit to ₹1,097.32 crore.

The company offers 25+ lending products to cater to SMEs, corporates, entrepreneurs, independent professionals, and salaried employees. The company's operational areas cover commercial finance, consumer loans, wealth management, private equity, investment banking, and cleantech finance.

HDB Financial Services IPO

HDB Financial's IPO for ₹12,500 crores involved a ₹2,500 crore fresh issue and a ₹10,000 crore offer-for-sale by HDFC Bank, the promoter. Currently, as per data from the stock exchange, the share price is up 1.85% from its issue price. Nevertheless, during Q2 FY26, the NBFC reported a decrease of 1.62% in its net income to ₹581.4 crores. The company has interests in corporate, consumer finance, and lease finance.

LG Electronics India IPO

In the LG Electronics India IPO, which was a pure OFS, no fresh issue component was included. Despite a 27.3% reduction in quarterly net profits, this stock delivered a healthy 38% return after its listing. LG Electronics India maintains its place as a dominant player in consumer electronics and household appliances, such as, primarily, televisions, air conditioners, refrigerators, washing machines and microwaves.

Summary

The IPO vibrations of 2025 denote an activation of enthusiasm and have prominently warmed up the spirits of the investors thankful to many old-age companies and some smart newbie companies. The listing performances have been very different for some from others, but together the size and diversity of IPOs have put 2025 in cement as the most valuable year for Indian equity markets.