New Delhi, Dec. 31 -- In 2025, private equity and venture capital firms extracted the largest sum of cash from India's initial public offerings (IPOs) in four years, even as their share in the country's primary market shrank to its lowest in at least a decade. While these investors offloaded Rs.20,643 crore worth of stock in 2025, they backed fewer than one in five listings, compared to around one in four in 2024 and around one in three in 2023.

According to market statistics compiled by data intelligence firm Prime Database, the value of PE/VC-backed IPO stake sales this year was the highest since the all-time high of Rs.31,684 crore in 2021, which came during a period of high global liquidity and a surge in technology listings followin...