India's IPO market hits record ₹84,400 crore in first half of FY27

India's initial public offering market demonstrated robust momentum in the first half of FY27, with companies raising ₹84,400 crore through 71 listings, according to a report by Grant Thornton Bharat. This represents a significant 30 per cent increase from the ₹64,900 crore mobilised in the corresponding period a year earlier, underscoring growing investor appetite for equity offerings.

The bulk of capital raising activity occurred during the July-September quarter, which accounted for nearly 94 per cent of total H1 funds. September emerged as the standout month, with 32 IPOs collectively raising ₹40,400 crore, making it the busiest period for new listings.

Market dynamics showed strengthening investor confidence, with average listing-day gains improving to 18 per cent from 10 per cent year-on-year. Retail participation also intensified, with average retail oversubscription rising to 28 times from 25 times in the year-ago period, reflecting sustained demand from individual investors.

Financial services dominated sectoral contributions, accounting for 43 per cent of total capital mobilised during the half-year period. The expanded IPO pipeline, with 71 listings compared to 55 in H1 FY26, indicates a diverse range of companies accessing public equity markets to fund expansion and growth initiatives across the economy.