Mumbai, Oct. 20 -- India's equity capital market volumes are expected to increase next year from the current level that stands at $46 billion, top Citi Group executives told Mint.

"We have already done close to $15 billion of IPOs since the beginning of 2025, and we have a few more in the pipeline. I think this year the volumes have largely increased, and the sizes have been bigger," Arvind Vashistha, head of Citi India's equity capital markets, told Mint. He added that Indian companies could raise over $20 billion through initial public offerings (IPOs) by the end of this year.

"We are seeing IPOs of different sizes and scales from companies across sectors, including financials & fintech, infrastructure and healthcare, come to market, ...