India’s primary market is gearing up for a blockbuster year-end, with a string of public offerings in December signalling that the IPO boom of 2025 is far from over. The last month alone is expected to raise almost Rs 30,000 crore, making it one of the hottest month in what has already become a landmark year of record breaking equity issuances.December, the number of IPOs is set to soar to about 25, led by five major listings: ICICI Prudential Asset Management Co (Rs 10,000 crore), Meesho (Rs 5,400 crore), Clean Max Enviro Energy Solutions (Rs 5,200 crore), Fractal Analytics (Rs 4,900 crore) and Juniper Green Energy (Rs 3,000 crore). Meanwhile, October saw 10 IPOs, attracting Rs 45,188 crore, followed by nine issues in November that raised Rs 23,613 crore. Market watchers describe the momentum as evidence of both strong business confidence and a selective yet optimistic investor base. Neha Agarwal, managing director and head of equity capital markets at JM Financial Institutional Securities Ltd, told ET that the strength of the pipeline reflects more than a rush to close the year. “The IPO rush is driven not by indiscriminate issuance but by a meaningful confluence of entrepreneurial energy and discerning investor appetite,” she said, pointing to the sharp investor preference for high-quality companies. “What’s encouraging is the quality-first filtration investors are applying – strong management, governance and credible business models are being rewarded, while anything with uncertainty rightly faces pushback.” Alongside large offers, a second wave of mid-sized IPOs is also poised to raise capital. Wakefit Innovations (Rs 1,500 crore), Innovatiview (Rs 1,500 crore), Park Medi World (Rs 1,200 crore), Nephroplus (Rs 1,000 crore) and precision engineering player Aequs (Rs 1,000 crore) are among the next set of issuers. Meesho and Aequs have already confirmed their subscription window for December 3–5, while the rest are awaiting final calendar announcements. The surge has also been helped by the depth of liquidity in domestic markets. Systematic investment plan (SIP) contributions of about Rs 30,000 crore every month continue to offer a dependable capital base as foreign flows fluctuate. Domestic institutional investors have also delivered steady participation for two straight years, giving investment bankers confidence that the surge of issuance can be absorbed without market disruption. Another defining feature of the current cycle has been the dominance of offer for sale (OFS) deals, with close to two-thirds of recent IPO funding coming from shareholder exits. Despite this, the market has remained stable, said Gaurav Sood, managing director and head of equity capital markets at Avendus Capital. “We believe this is not just a year-end rush but the culmination of a record year for India’s primary markets,” he said. He added that the system’s liquidity strength has ensured smooth execution of large deals across multiple sectors. “When you combine this domestic flow strength with the proven ability to execute large and diverse deals across sectors, it’s clear why the market is comfortable running a heavy December calendar and why promoter confidence, filing volumes and broader IPO momentum are likely to stay elevated into 2026,” he told ET. The fundraising numbers reflect the same optimism. According to Agarwal, main-board IPO issuances have already crossed last year’s milestone of Rs 1.5 lakh crore, and the month has only just begun.

British TV personality Jamie Laing’s vegan sweets brand Candy Kittens is set to acquire snack company Graze in a deal between the former’s parent company and packaged goods giant Unilever.

The upcoming deal with German firm Katjes International is expected to be completed in the first half of 2026 for an undisclosed sum.

The sale of Graze, a popular nuts and snack bar brand in the UK, marks Unilever’s latest effort to offload under-performing brands in its line-up and prioritise its personal care and beauty products.

Unilever said on Monday that it will focus on producing condiments and other packaged products to “sharpen” its catalogue of goods, which will mean “pruning the portfolio where relevant”.

Graze was founded in 2005 as an internet-based snack delivery service selling healthy and often nut-based treats. It gradually began to sell in supermarkets and retailers.

In 2019, it was acquired by Unilever, reportedly for around £100m ($132m), but has under-performed, with sales falling in recent years.

Now, its future will be “better realised under new ownership” by Katjes and Laing’s Candy Kittens Group, given their expertise in consumer goods, said Unilever in its statement.

Laing said that Graze has changed the way the UK thinks about healthier snacking and is “perfect” for Candy Kittens’ plans for growth.

Laing has hosted programmes on the BBC and is known for his participation in the reality show Made in Chelsea and Strictly Come Dancing.

The deal is a “massive moment” for his eco-conscious firm, which sells vegan treats, Laing said online.

“When we started out, the thought of a company like Unilever buying our business was the dream. Today we’re the ones buying a business from them. The tables have turned,” he said.

Retail analyst Jonathan De Mello told BBC News that Graze had become “a bit of a money sink” for Unilever so it was not surprising that the brand was being spun off.

“Unilever had originally planned the acquisition of Graze as a way of increasing their share of the DTC [direct-to-consumer] market, but this market has shrunk considerably in favour of traditional product purchasing, i.e. supermarkets,” Mr De Mello said.

He added that “a more hands-on approach” could benefit Graze, which a smaller business like Candy Kittens could provide.

Unilever chief executive Fernando Fernandez outlined plans to divest the firm’s food brands as part of efforts to fund the company’s turnaround, after he stepped into the role in March.

Among the other food brands the UK-based consumer goods giant has sold off this year is The Vegetarian Butcher. It acquired cosmetics companies like Wild.

The Marmite- and Dove soap-owner is also set to spin off its ice cream division which carries well-known brands like Magnum, Ben & Jerry’s and Walls as part of its overhaul.

New Delhi: InterGlobe Aviation, parent of IndiGo airlines, on Tuesday informed that it received a penalty order of around Rs 117.52 crore from the Joint Commissioner of Central Tax and Central Excise, CGST Kochi Commissionerate.

The order, which issued a penalty of Rs 1,17,52,86,402, relates to the denial of input tax credit for the financial years 2018–19 and 2021–22, the airline said in an exchange filing.

“The department has denied input tax credit (ITC) availed by the company and has issued a demand order along with a penalty,” the filing said.

“The company believes that the order passed by the authorities is erroneous. Further, the company believes that it has a strong case on merits, backed by advice from external tax advisors,” it further said.

Accordingly, the company will contest the same before the appropriate authority, it added.

InterGlobe Aviation added that the order does not have a significant impact on its financials, operations or other activities of the company.

“There is no significant impact on financials, operations or other activities of the Company,” it added in its regulatory filing.

Interglobe Aviation Limited shares dipped by Rs 95 or 1.64 per cent in intra-day trading. The shares had opened almost flat at Rs 5,794.50 apiece.

The carrier on November 29 announced new direct routes and frequency additions from Navi Mumbai International Airport (NMIA), strengthening connectivity from the newly inaugurated gateway to key domestic destinations such as Coimbatore, Chennai, Vadodara and North Goa.

IndiGo earlier this week said it has completed the update on the mandatory Airbus system enhancement across its A320-family fleet after global flight operations were disrupted due to a software issue in the Airbus A320 family of aircraft.

All 200 aircraft have now been fully updated and compliant as required, said the Indian carrier.

Meanwhile, earlier in the day, an IndiGo flight from Kuwait to Hyderabad was diverted to Mumbai after authorities at Hyderabad Airport received a bomb threat.

Official sources confirmed that flight 6E-1234 was diverted midair after a threat message was received at the customer support at Rajiv Gandhi International Airport (RGIA) at 05.12 a.m.