Kotak pegs 2025 IPO pipeline at USD 35 bn

Kotak Mahindra Capital Company (KMCC) on Friday pegged the overall initial public offer (IPO) market pipeline at USD 35 billion for 2025. This will be a substantial jump from the USD 22 billion, which companies raised in the just concluded 2024, the company said.

A bulk of USD 9 billion of the IPOs in the pipeline are from the financial services sector, the i-bank said, adding that these include HDB Financial Services, Avanse Financial Services and also Tata Capital.

Digital tech companies follow suit with USD 5 billion in the IPO pipeline, with names like Ecom Express, Ola, Zept, and Pepperfry expected to hit the markets.


The company said the IPO sizes are increasing consistently, and candidates are looking at IPO as a source of funding for their investments.

The average listing day premium for the 91 IPOs, which hit the market in 2024, was 32.8 per cent, it added.

It said foreign portfolio investors are relying on IPOs to invest in India and preferring it over the secondary market route.

The success of Hyundai's mega Rs 27,000 crore offer has prompted many multinationals to look at unlocking the value of their investments through the IPO route, it noted.