India's 2025 IPO market saw a record 365 listings, raising 1.95 trillion, with 106 mainboard and 259 SME IPOs. Despite strong overall fundraising, only a few IPOs provided exceptional returns for retail investors. Anondita Medicare led with a 601% return, while other SME IPOs like Tankup Engineers and Sacheerome also showed significant gains, turning modest initial investments into substantial wealth for early investors.