Mumbai, Sept. 3 -- India's equity capital markets could see a little over $20 billion worth of initial public offerings (IPOs) by the end of this year, driven by robust activity across primary issuances and secondary trades, and a busy near-term transaction pipeline, according to a top executive at Avendus Capital.

About 58 companies have raised Rs.73,757 crore (close to $8 billion) so far this year, with the largest being SBI Funds (around Rs.9,813 crore or $1.03 billion) and Manipal Hospitals (around Rs.9,275.22 crore or $960 million), according to data from Prime Database.

Mint reported previously that 103 companies raised about $21 billion from IPOs in 2025, surpassing the record set in 2024, when 91 companies raised $18 billion.

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