India has taken the lead in global initial public offering (IPO) activity, with two of the world’s top five IPOs in October originating from the country, according to a report by the Securities and Exchange Board of India (SEBI). These top five offerings collectively raised over $10 billion, highlighting India’s prominent role despite ongoing market volatility and trade tensions.

Globally, 139 companies raised a total of $22 billion through IPOs during the month. The largest IPO was by UK-based Verisure, which secured more than $4.2 billion, marking Europe’s biggest offering since 2022. Following closely was India’s Tata Capital, which raised $1.7 billion through its domestic listing.

The report emphasized that India’s primary markets are leading worldwide IPO issuances, outpacing China and Japan. Asian markets continued to dominate in both the value and volume of IPOs, while Europe surpassed the United States to become the second-largest region in terms of funds raised.

October 2025 proved to be a landmark month for India’s IPO scene, with Tata Capital and LG Electronics India driving total fundraising to a record ₹41,783 crore. This exceeded the previous monthly high of ₹36,305 crore set in November 2021.

Additionally, the Offer for Sale (OFS) component in mainboard IPOs reached a new high, accounting for 73% of total funds raised. In contrast, OFS in SME IPOs remained low at just 4%. Regionally, Western India led in both the number of issues and funds mobilized, accounting for 29 out of 63 offerings and raising ₹19,847 crore.

Strong participation from domestic investors and resilient market sentiment have solidified India’s position as a global leader in IPO activity, even amid geopolitical and economic challenges.