India Poised for A Record-Breaking December As Eight IPOs Line Up to Raise Over ₹30,000 Crore

November 24, 2025: India’s primary market is about to enter its busiest December IPO session with eight companies planning to launch initial public offerings valued at over ₹30,000 crore. If the pipeline comes through as expected, December 2025 could break the record set in December 2024, when 15 IPOs together raised ₹25,438 crore.

A Packed IPO Line-Up For December

As per knowledgeable sources, the next set of issuers will include Meesho Clean Max Enviro Energy Solutions, Fractal Analytics, Milky Mist Dairy, Food Skyways Air Services, Corona Remedies, and Aequs Ltd. The momentum is growing around ICICI Prudential Asset Management Co., which will soon receive a green light from regulators. Prudential Plc is also keen to raise $300 million through a share placement in the AMC ahead of its intended IPO. Once the IPO proposal is approved, a definitive decision comes through.

Meesho Leads the Year-End Rush

Meesho is likely to be the highest-profile offering among the lineup. The Bengaluru-based e-commerce business is aiming for an early December debut after secretly filing the draft papers in July. It has a post-money valuation of $5.93 billion or around ₹52,500 crore in mind. A person said the issue size would be around ₹6,000 crore.

Clean Max, Fractal and Milky Mist Join The Queue

Clean Max Enviro Energy Solutions is in the pipeline to issue nearly ₹5,200 crore, and Fractal Analytics is expected to get SEBI’s approval and is getting ready to go to market with a planned issue size of ₹5,000 crore. Milky Mist Dairy Foods Ltd, a fast-growing dairy brand, is eyeing an offering of ₹2,000 crore and plans to get listed by December. Skyways Air Services is one of the prominent air freight and logistics companies in India and is in the process of issuing about Rs 600 crore.

Aequs, Corona Remedies Also Set to Tap Markets

Aequs Ltd, a diversified organization with global interests in aerospace, precision engineering, consumer goods, and toy manufacturing, is likely to look to seek approximately ₹720 crore via an IPO. Corona Remedies Ltd, a pharmaceutical company based in Ahmedabad, is hoping for an IPO of about ₹800 crore, with 10 percent allocated to retail investors.

Primary Market Remains Active in An Otherwise Muted Year

Despite a soft tone in the secondary market, the pipeline is robust for year-end. In India, the primary market has remained steadfast through 2025. To date, there have been 96 companies that have experienced an initial public offering, raising a cumulative of over ₹1.53 lakh crore.

A Mixed Listing Performance

Listing performance, however, has been uneven. 32 IPOs listed below issued at an average price of 31 recorded modest gains of 1 to 10 percent, 13 rose between 11 and 20 percent, 16 delivered gains between 25 and 50 percent, while only four stocks saw listing pops exceeding 50 percent. With multiple large offerings in the queue and high investor interest across sectors, December is shaping up to be a defining month for India’s primary market.

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