Primary market performance: 80 IPOs raise $14 billion this year till now; Kotak Equities report says investors growing ‘selective’

Indian primary market has seen a dip in IPO fundraising, with $14 billion raised year-to-date in 2025 compared to $19 billion in 2024. Investor caution is rising due to tepid listings and a focus on fundamentals, while the pipeline remains robust with over 200 expected IPOs.