Multilateral estimates show that India’s new-issue market is heating up: while 80 IPOs have already listed in 2025, more than ₹41,000 crore of fresh issues are expected before year-end. Key sectors expected to launch offerings include consumer internet, fintech and manufacturing. Analysts warn that investor appetite may become tested given valuations and a crowded calendar; yet, strong retail sentiment and favourable policies may help absorption. The next few weeks are viewed as critical for pricing discipline and market absorption of fresh supply.