New Delhi, Oct. 23 -- There has been an unprecedented wave of IPOs in recent years. According to a recent report by KPMG, the Indian IPO market set a record with 103 mainboard IPOs raising approximately Rs.1.76-1.95 crore ($20 billion) in 2025. The figure for the first nine months of 2026 displays a slower fundraising pace with 96 IPOs raising Rs.1.13 crore ( Rs.12 billion). Driven by an investor base crossing 110 million registered unique investors as per NSE data, primary market listings have attracted millions of first-time retail investors seeking quick listing gains or solid long-term investments. According to exchange data, mainboard IPOs now routinely draw between 3-7 million retail applications per issue. Getting an IPO allotment ...