Large-scale initial public offerings (IPOs) in India — those worth over ₹5,000 crore — are once again capturing investor attention.
For 2025, subscriptions for such “big-ticket” issues have averaged around 17.7 times, the highest since 2021 and significantly above the typical 8-10 times seen in recent years.
Analysts point to several factors driving this rebound: strong domestic liquidity, renewed confidence in well-known brands and business models, and fewer blockbuster issues competing for investor capital. The return of institutional participation has been especially notable in these large-scale listings.
Despite the positive subscription numbers, caution remains warranted. Elevated valuations and the challenge of sustaining listing-day gains mean that investor enthusiasm should be balanced with scrutiny of underlying fundamentals.
