The Demat Dance To Regulatory Rhymes: India’s IPO Boom Of 2025
- IJLLR Journal
- Oct 23
- 2 min read
Hardik Kumar & Akshat Singh, National Law University and Judicial Academy Assam
A cloud of ambition has begun to burst in the Indian markets. New dreams have grown new wings are now ready to soar high. Entrepreneurs will lead the new fiscal era and not just the big ones will shy, even the smaller ones will get an equal chance and equal benefit. This is the era of capital rush; it can be called a capital bloom. It is a new economic dawn. Once quiet like a gentle stream, the Indian stock market now roars in fury like a monsoon-fed river Brahmaputra, carrying with it the dreams of many investors alike. IPOs, once as rare as the Black Opal now fall like monsoon rain- abundant sprinkling with enough to quench the thirst of this capital hungry land. The economy has found a new boom, and this boom will be led by IPOs. Not only the big ones will capture the spotlight, but in the light of the new SEBI regulations, it is time for the SMEs (Small and Medium Enterprises) to shine too. The Securities and Exchange Board of India (SEBI) with its new ICDR (Issue of Capital and Requirements) Amendments is allowing young ventures to etch their names on the monolith of the Dalal Street. Startups once crawling in the shadows now soar high draped in the dazzling fabric of vision and valuation. The idea of capital availability is no longer a pie in the sky as there is an abundancy of capital available through investors both domestic and foreign. The IPO boom is the new symphony of India’s. economy.
The capital markets of India are experiencing an unprecedent rise in initial public offerings (IPO) with 2025 marking a record-breaking year for capital raised and company listings. SEBIs 2025 ICDR amendments serves as a catalyst in the capital market of India. These amendments are effective since March 2025. The amendment was drafted to streamline IPO processes, enhance transparency, and reduce compliance costs. Spanning startups to state-owned enterprises and investors to merchant bankers, these reforms aim to modernise the market ecosystem, promote transparency, and significantly enhance the ease of doing business. Founders now benefit from relaxed norms on SARs (Stock Appreciation Rights) as a share- based employee benefit, and there is a push for mandatory dematerialisation of shares to improve market integrity. These reforms strengthen the investors’ confidence in the capital market. Indian companies raised a record ₹45,375 crore through mainboard initial public offerings (IPOs) in the first half of calendar year 2025 (H1 CY25), marking the highest-ever capital mobilised in the first six months of any year since the platform’s inception. SEBI’s 2025 amendments have not only accelerated capital formation but also set higher standards for governance and transparency, ensuring that India’s IPO surge is underpinned by sustainable growth and global investor trust.
