In the last five years (2020-2025), companies in India have raised approximately ₹5.39 lakh crore through initial public offerings, surpassing the ₹4.55 lakh crore raised in the previous two decades (2000-2020), according to a report by Equirus Capital. The pipeline for 2026 i s estimated at around ₹1.6 lakh crore, suggesting sustained activity in the primary market despite broader market caution. Analysts say this trend underscores increased access to capital and investor appetite for listings in India.