After a strong run in 2025, India's primary market witnessed a slowdown with 23 companies tapping the Initial Public Offering (IPO) route to mobilise over Rs 27,000 crore in 2026 so far, amid heightened volatility and macro uncertainty, according to a report released by Equirus Capital on Tuesday. This came following a launch of 103 maiden public issues in 2025, together raising Rs 1.76 lakh crore. This fundraising figure far exceeded the Rs 1.6 lakh crore raised by 90 firms in 2024 and the Rs 49,436 crore garnered by 57 companies in 2023.