India’s stock market is witnessing an unprecedented surge in initial public offerings (IPOs), driven largely by retail investors, even as global uncertainties and geopolitical tensions loom. The country’s IPO market has become a magnet for companies across diverse sectors, from tech startups to established conglomerates, raising billions of dollars in 2025. According to Kotak Mahindra Capital Company, 79 companies have collectively garnered $11.5 billion in the first nine months of the year, with another $10-11 billion expected in the final quarter, pushing the total IPO fundraising beyond $20 billion. This excludes contributions from small and medium-sized enterprises, further highlighting the market’s vibrancy.