More promoters use the offer-for-sale route to sell stake in 2025
In 2025, companies increasingly turned to the offer-for-sale (OFS) route, with these components accounting for nearly 65% of IPOs by value. This trend marks consistent annual growth as promoters seek to monetize stakes in their firms through public markets.
Steady rise in OFS share
According to data from Prime Database analyzed by businessline, the OFS portion in IPOs from January to November 2025 reached 65% of total issue value, compared with 58% in 2023 and 59% in 2024. The number of IPOs entirely based on OFS also increased — from 15.8% in 2023 to 16.5% in 2025.
Major IPOs dominated by OFS
- Hyundai (2024)
- LG Electronics (2025)
- Vishal Mega Mart
- Mankind Pharma Ltd.
- Tata Technologies
- WeWork India
- Sagility India
- Travel Food Services
- Cello World
- Orkla India
Promoters lead the stake sales
Promoters continue to dominate OFS transactions. They accounted for 68.5% of the OFS value in IPOs issued in 2025, up from 52.8% in 2023.
“Promoters make up 68.5 per cent of the OFS (value) in the IPOs issued in 2025.” — Prime Database
OFS as a growing market tool
This upward trend highlights the OFS mechanism’s growing role as a preferred exit route for promoters and major investors as more firms enter the primary market.
Author’s Summary: The share of promoter-driven offer-for-sale components in IPOs surged to 65% by value in 2025, showing growing reliance on secondary stake sale routes across major listings.