The surge in fundraising was underpinned by a strong pipeline of huge-ticket IPOs and a sharp rise in offer-for-sale (OFS) components, highlighting promoters’ growing inclination to monetise existing stakes amid favourable valuations. In 2025, OFS accounted for nearly 63.5%, or about ₹1.11 lakh crore, of total IPO proceeds, marking one of the most OFS-heavy years in India’s capital market.
In 2024, fundraising through OFS remained elevated at ₹95,285 crore, accounting for 59.6% of total IPO proceeds. Historical trfinishs reveal that OFS has consistently dominated India’s primary market. In 2020, it created up a striking 86.7% of the ₹26,613 crore raised, largely due to a compacter issue base. While its share moderated as IPO activity picked up, OFS remained significant—at 63.5% in 2021, 70.2% in 2022, and 58.2% in 2023.
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