India's IPO market is vibrant, yielding significant investor returns, often surpassing secondary markets. An analysis of 2026-27 listings shows diversified IPO investments returned approximately 19%. The author champions reviving comprehensive IPO ratings, based on company fundamentals like financials, governance, and growth. This would provide primary market investors crucial, relevant information, distinct from debt ratings. Such ratings are vital for guiding investors in this appealing, tax-efficient avenue, enhancing transparency and decision-making for public issues.