Indian mutual funds have invested over ₹22,750 crore across eight major IPOs this year, led by HDFC and ICICI AMCs. Domestic funds contributed nearly 44% of total IPO fundraising in 2025, highlighting rising retail participation and confidence in India’s primary markets. Top allocations included Tata Capital, HDB Financial, and LG Electronics India IPO issues. Fund houses expect this trend to strengthen in FY26.