India's primary market saw a record-breaking 2025, with 103 companies raising over ₹1.75 lakh crore through IPOs, surpassing 2024 figures. The year also saw a significant increase in companies filing offer documents. Looking ahead to 2026, analysts anticipate continued activity, particularly in the telecom, financial technology, and consumer technology sectors, with potential large IPOs from companies like Reliance Jio, Flipkart, PhonePe, and Oyo.