Mumbai, Oct 20 (NationPress) The Indian equity markets have experienced a phenomenal year of fundraising from last Diwali to this Diwali, with companies raising the highest-ever amount through mainboard IPOs, SME IPOs, and qualified institutional placements (QIPs) in Samvat 2081.

In Samvat 2081, 433 Indian enterprises successfully raised over Rs 2.9 lakh crore through various channels, a significant increase from the Rs 2.53 lakh crore mobilised by 429 firms in Samvat 2080.

For context, in Samvat 2079, 251 firms raised approximately Rs 79,900 crore, while 165 firms collected Rs 1.07 lakh crore in Samvat 2078.

This remarkable achievement occurred despite a lack of activity in the secondary market and relatively weak listing gains, underscoring the persistent confidence of investors across all sectors.

Out of the total funds raised this year, 111 companies accounted for nearly Rs 1.8 lakh crore via mainboard IPOs, while 275 SMEs gathered Rs 11,860 crore.

Additionally, 47 firms raised Rs 98,993 crore through QIPs. Market analysts pointed to robust economic growth, favorable market conditions, and increasing investor confidence as key drivers behind this record fundraising.

They noted that both domestic and international investors, including retail buyers, mutual funds, and foreign portfolio investors, displayed strong interest in primary market opportunities, even as broader markets remained stagnant.

However, despite this vigorous fundraising, the listing performance in 2025 has been fairly lackluster. Among the 85 mainboard IPOs listed so far this year, 29 debuted below their issue price, while 27 experienced moderate gains of 1–10 percent.

Twelve IPOs achieved gains between 11–20 percent, 13 rose by 25–50 percent, and only three stocks managed to gain over 50 percent on their debut.

Analysts suggest that elevated valuations and diminishing investor enthusiasm contributed to these weaker performances.

In contrast, 2024 saw a much more robust listing performance. That year, out of 93 mainboard IPOs, five stocks doubled investors’ capital upon listing, 12 gained between 50-99 percent, 25 rose by 25-50 percent, and 30 delivered smaller gains of 1-25 percent.

A similar trend was observed in the SME segment. In 2025, 218 SME IPOs entered the market, of which 76 listed below issue price, while 27 enjoyed gains of 50-100 percent.

In 2024, however, 247 SMEs made their debut, with over 100 achieving returns between 50-400 percent upon listing, showcasing the frenzy surrounding smaller issues at that time.