Indian companies raised a record $25 billion through equity issues in the first half of the year. It is the highest half-yearly total on record.

The surge was driven by large initial public offerings and share sales by listed firms. Strong domestic investor demand supported the deals.

India's IPO market has been among the world's busiest. Retail investors and mutual funds have poured money into new listings.

Bankers say the pipeline for the second half also looks strong. Several large companies are preparing to go public.

The record shows the depth of India's capital markets. Companies are choosing equity over debt as interest rates stay high.

Global investors are also watching closely. India's growth story continues to attract foreign money despite recent selling by overseas funds.

Domestic mutual funds have been big buyers of new share issues. Monthly inflows through systematic investment plans remain strong. This steady domestic money has reduced dependence on foreign investors. Bankers say India's IPO pipeline is among the strongest in the world right now.