India’s IPO Market Set for Record $5 Billion in October Amid Big-Name Listings

India’s vibrant market for initial public offerings (IPOs) is gearing up for a record-breaking October, with total proceeds expected to surpass $5 billion, driven by marquee deals from Tata Capital Ltd. and LG Electronics India Ltd.

The Tata Capital IPO, valued at $1.7 billion, is set to be the largest in India since Hyundai Motor India Ltd.’s $3.3 billion offering last year. LG Electronics India’s listing also crosses the billion-dollar mark, giving investors exposure to India’s growing consumer market.

Despite global tariff shocks, US-India tensions, and a slowdown in stock market momentum — with the NSE Nifty 50 up only 5% in 2025 versus 23% for broader Asian equities — domestic and retail investor demand has remained robust. Analysts attribute this to strong inflows into mutual funds and insurance companies, which are now major players in absorbing IPO supply.

Tata Capital’s IPO will accept public orders from October 6 to 8, with shares to begin trading on October 13, while LG Electronics India’s IPO opens on October 7 and closes October 9, with listing on October 14.

However, historical trends show that large Indian IPOs often disappoint on debut. Hyundai Motor shares fell more than 7% on their first day last year, while Life Insurance Corp. of India (2022) and Paytm (2021) saw declines of 8% and 25%, respectively.

Experts, though, remain optimistic. Varsha Valecha of Chanakya Capital noted that “Tata and LG are both big brands and should attract investor interest,” barring any negative global events in the coming days.

With 2025 proceeds at $11.2 billion through Q3, India ranks as the world’s fourth-busiest IPO market, and regulatory tweaks — including easier norms for large private firms and relaxed central bank rules for investor loans — are expected to further support the boom.