India tops IPO count, ranks third in fundraising

According to the India — Securities and Exchange Board of India's Annual Report for FY2025-26, India retained its position as the world's leading market for initial public offerings (IPOs) by number of issues, while ranking third globally in terms of funds raised. The report highlights robust momentum in the primary equity market despite global uncertainties. To sustain this momentum, SEBI introduced several reforms, including restructuring the minimum public offer framework by linking public float requirements to issue size, extending the timeline for the largest listed companies to achieve the mandatory 25% minimum public shareholding to 10 years, and allowing founders of new-age companies to retain employee stock option plans (ESOPs) granted before an IPO. SEBI Chairman Tuhin Kanta Pandey emphasized the need for larger pools of capital to finance India's long-term development goals, including infrastructure, manufacturing, and the energy transition, and noted that these investments could not be funded by the banking system alone. The regulator's policy focus was to strengthen the equity market, corporate bond market, and alternative investment ecosystem to support India's journey towards becoming a developed economy by 2047.