India Tops Global IPO Volumes: 5 Key Highlights from SEBI’s Latest Bulletin
India’s capital markets regulator, the Securities and Exchange Board of India (SEBI), has released its monthly bulletin for November 2025, highlighting the key trends that shaped the country’s financial landscape. According to the bulletin, initial public offerings (IPOs) and secondary market action, foreign capital swings, mutual fund and asset movement, along with policy developments in the securities market, were the noteworthy trends of the month.
Record-Breaking IPO Volumes
Following a record month of IPO fundraising in October, November remained robust despite a moderation of 18%. A total of 22 companies were listed across the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), mobilizing Rs 33,507 crore. This marked the second-highest monthly resource gathered in FY25, with India leading globally in terms of the number of IPOs or IPO volumes. To learn more about the IPO process and how to invest in IPOs, click here.
Mainboard Listings Dominate
Offer-for-sale (OFS) emerged as the dominant component of mainboard listings last month. Of the 22 companies listed, 12 were on the mainboard, collectively raising Rs 33,014 crore. Of this amount, 36% was mobilized through fresh issuances, while the remaining 64% was through OFS. The average listing-day gain for mainboard issues was 10%, with eight out of 12 issues listing at a premium. For more information on mainboard listings and their benefits, visit our website.
SME Segment Sees Significant Gains
In the SME segment, six out of 10 issues listed at a premium, recording a peak listing-day gain of 90.5% and an average gain of 14%. This highlights the growing interest in SME listings and the potential for significant returns on investment. To learn more about SME listings and how to invest in them, click here.
Financial Services Lead the Way
Financial services accounted for a third of the total amount raised via mainboard IPOs in FY26 (up to November), followed by consumer durables, consumer services, and capital goods. The top four sectors raised Rs 96,068 crore, accounting for 69% of the total amount raised by mainboard IPOs. This highlights the growing importance of the financial services sector in India’s economy. For more information on financial services sector trends and investment opportunities, visit our website.
Indian Equity Markets Continue to Advance
Indian equity markets continued to advance for the third consecutive month in November. The benchmark indices, Nifty and Sensex, posted 1.9% and 2.1% returns, respectively. The rally was relatively narrow, with the broader midcaps edging higher while the small caps declined. To learn more about Indian equity markets and how to invest in them, click here.
Nifty IT Leads the Gains
Nifty IT was the top performer, with a 4.7% gain, as IT heavyweights led the gains amid stable export demand and deal wins. The market turnover in the equity cash segment fell 4.2% at NSE and 2% at BSE. For more information on Nifty IT trends and investment opportunities, visit our website.
Combined Average Daily Turnover Rises
The combined average daily turnover at BSE and NSE for November was Rs 1.13 lakh crore, up 5.3% year-over-year (YoY). The equity derivatives market witnessed a downward momentum, with a 4% fall monthly in the options premium average daily turnover across NSE and BSE. To learn more about equity derivatives market trends and investment opportunities, click here.
MCX iCOMDEX Composite Index Rises
The MCX iCOMDEX Composite index rose 3.1%, contributing to a 20.8% gain for the April-October 2025 period. Among its component indices, the bullion and metal index posted positive returns of 3.6% and 4.8%, respectively. For more information on MCX iCOMDEX Composite index trends and investment opportunities, visit our website.
FPIs Turn Net Sellers in Indian Equities
The net investment by foreign portfolio investors (FPIs) across all segments stood at Rs 2,836 crore, compared to net inflows of Rs 35,598 crore registered in October. FPIs turned net sellers of Rs 3,765 crore in Indian equities last month, reversing the buying of Rs 14,610 crore seen in October after three straight months of outflows. To learn more about FPIs in Indian equities and their impact on the market, click here.
Debt Segment Continues to Attract FPI Inflows
The debt segment continued to attract continuous FPI inflows (Rs 4,674 crore) for the fifth consecutive month since July 2025, although this was lower than the Rs 18,224 crore inflows witnessed in October 2025. For more information on debt segment trends and investment opportunities, visit our website.
Assets Under Management of Mutual Fund Industry Rise
The assets under management (AUM) of the mutual fund industry rose to Rs 80.8 lakh crore by November, an increase of 23% since the end of March 2025. During FY26 (up to November), gross funds mobilized by mutual funds were Rs 99.82 lakh crore against the redemption of Rs 91.90 lakh crore, resulting in a net inflow of Rs 7.92 lakh crore. To learn more about morningstar mutual fund ratings and investment opportunities, click here.
Net Inflows Highest for Growth/Equity Oriented Schemes
The net inflows were highest for growth/equity-oriented schemes (Rs 29,894 crore) last month, followed by other schemes (Rs 15,385 crore, which include index funds, ETFs, FoFs), hybrid schemes (Rs 13,299 crore), and solution-oriented schemes (Rs 320 crore). For more information on growth equity oriented schemes and their benefits, visit our website.
Reclassification of Real Estate Investment Trusts (REITs)
With effect from January 1, 2026, any investment made by mutual funds and Specialized Investment Funds (SIFs) in REITs will be considered as an investment in equity-related instruments. However, for the same purpose, InvITs shall continue to be classified as hybrid instruments. Existing investment in REITs held by debt schemes of MFs and investment strategies of SIFs as on December 31, 2025, shall be grandfathered. To learn more about Real Estate Investment Trusts and their benefits, click here.