SEBI Bulletin: India tops China, US in IPO activity; Rs 33,507 crore raised in November

India’s capital markets regulator, the Securities and Exchange Board of India (SEBI), has released its monthly bulletin outlining key trends across the securities market in November 2025.

According to SEBI, initial public offerings, secondary market performance, foreign portfolio investor flows, mutual fund asset growth, and policy-related developments were the major highlights during the month.

IPO market remains strong

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SEBI said the IPO market remained robust after record fund mobilisation. A total of 22 companies raised around Rs 33,507 crore through IPOs on the NSE and BSE in November.

Out of 12 mainboard listings, eight stocks debuted at a premium, reflecting healthy investor demand.

India also emerged as the strongest IPO market globally by volume. It led with 22 IPOs, ahead of China with 19 and Taiwan with 10. Korea saw nine IPOs, while the US recorded eight issues during the period.

Equity markets extend gains

Indian equity markets recorded gains for the third consecutive month. SEBI data showed that the average daily turnover on the BSE and NSE stood at around Rs 1.13 lakh crore in November.

However, activity in the equity derivatives segment declined. Turnover in equity derivatives fell 4 per cent on a month-on-month basis.

FPI flows moderate

Foreign portfolio investor (FPI) activity slowed during the month. Net FPI investment declined sharply to Rs 2,836 crore from Rs 35,598 crore in the previous month.

Despite this, FPIs continued to invest in the debt segment. The debt market saw net FPI inflows of Rs 4,674 crore, with inflows remaining positive throughout November.

Mutual fund AUM rises

The mutual fund industry continued to see strong asset growth. SEBI said industry assets under management (AUM) rose 23 per cent between March 2025 and the end of November.

By November-end, the total MF industry AUM stood at Rs 80.8 lakh crore.

Equity-oriented and growth schemes attracted the highest net inflows at Rs 29,894 crore. This was followed by index funds, ETFs and FoFs with inflows of Rs 15,385 crore. Hybrid schemes saw net inflows of Rs 13,299 crore, while solution-oriented schemes recorded inflows of Rs 320 crore.

SEBI said these trends reflect sustained investor participation across market segments despite moderation in foreign flows.