India IPO

After a strong run in 2025, India's primary market witnessed a slowdown with 23 companies tapping the Initial Public Offering (IPO) route to mobilise over Rs 27,000 crore in 2026 so far, amid heightened volatility and macro uncertainty, according to a report released by Equirus Capital on Tuesday. This came following a launch of 103 maiden public issues in 2025, together raising Rs 1.76 lakh crore. This fundraising figure far exceeded the Rs 1.6 lakh crore raised by 90 firms in 2024 and the Rs 49,436 crore garnered by 57 companies in 2023. However, the IPO activity is showing signs of a major pickup as geopolitical tension eased with insurtech firm Turtlemint Fintech Solutions and Advit Jewels slated to launch their public issues this month. Further, Waterways Leisure Tourism Ltd, the operator of Cordelia Cruises, is also expected to come out with its maiden public offering this month. The public issues of insurtech firm Turtlemint Fintech Solutions and Advit Jewels are scheduled t

About a dozen companies are expected to collectively raise more than ₹60,000 crore ($6.3 billion) across initial public offerings, institutional placements and government stake sales in two months

Citigroup's India head of investment banking, Rahul Saraf, said more deals should emerge as multinationals reassess portfolios and divest non-core assets

Venture-backed firms raised $4.9 billion in 2025, reflecting shift from cash-burn model to financial discipline

The IPO market, which scaled a record high in 2025 with companies raising an unprecedented Rs 1.76 lakh crore, driven by abundant domestic liquidity, resilient investor confidence and supportive macroeconomic factors, is expected to carry that momentum into the New Year. This exceptional year not only reflected issuers' confidence but also highlighted investors' eagerness to chase listing-day gains and back companies with strong long-term growth potential. A major highlight of the year was the resurgence of startup listings with as many as 18 startups, including Lenskart, Groww, Meesho and PhysicsWallah, going public and collectively raising over Rs 41,000 crore. In 2024, startups raised Rs 29,000 crore from the primary market. This rebound signals a reset in valuation expectations and business models after a period of caution. At the same time, Offer for Sale (OFS) continued to dominate fundraising activity, accounting for about 60 per cent of total capital raised in 2025. Overal

data on 189 IPOs where information is available show that the total amount to be raised through fresh equity was Rs 1.20 trillion, with another offer for sale (OFS) component being Rs 62,000 crore

A rapidly expanding pool of money from domestic mutual funds, insurers and millions of retail investors is now dominating the IPO space, showing an increased ability to absorb large share sales

With mega IPOs from Lenskart and Groww ahead, India's record ₹1.6 trillion fundraising looks set to be topped, says Ramchandani

AceVector, parent company of e-commerce marketplace Snapdeal, has confidentially filed draft papers with markets regulator Sebi to raise funds through an initial public offering (IPO). In a public announcement on Saturday, AceVector stated that it has submitted "the pre-filed draft red herring prospectus with Sebi and the stock exchanges ...in relation to the proposed initial public offering of its equity shares on the main board of the stock exchanges". Apart from Snapdeal, the Gurugram-based AceVector also operates software-as-a-service (SaaS) platform Unicommerce, and consumer brand building firm Stellar Brands. Of these, Unicommerce became a publicly listed company in 2024. The company's IPO had received an overwhelming response, with the issue having been oversubscribed 168.32 times. AceVector, which is founded by Kunal Bahl and Rohit Bansal, opted for the confidential pre-filing route, which allows it to withhold public disclosure of IPO details under the draft red herring ..

60+ IPOs worth ₹1.02 trn ready to harness steady market currents

PhonePe said its "strong top line and bottom line growth" across business portfolios makes it a suitable time for public listing

Saluja is one of the four entrepreneurs in the renewable energy space whose personal fortunes have soared after their companies listed on the stock exchanges last year

Industry players note that the sharp rally in the market over the past month has emboldened companies to advance their listing plans

Visual Effects (VFX) firm Identical Brains Studios on Thursday said it is gearing up to raise Rs 20 crore through an initial public offering (IPO) on December 18. The announcement comes after NSE Emerge granted in-principle approval for the IPO earlier this month. The three-day public issue will conclude on December 20, the company announced. The Mumbai-headquartered company's public issue will comprise a fresh issuance of 36.94 lakh equity shares with a face value of Rs 10 each. Proceeds from the IPO will be utilized to expand and enhance the company's operations. This includes renovating the existing office and studio in Andheri, establishing a new branch office in Lucknow, and setting up a Color Grading Digital Intermediate (DI) and Sound Studio at a new branch office in Andheri. Additionally, the funds will be used to purchase essential equipment such as computers, storage systems, and software to upgrade existing facilities. The remaining portion of the proceeds will be alloc

Transrail Lighting Ltd is gearing up to launch its public offering on December 19, featuring a fresh issuance of equity shares worth Rs 400 crore. Apart from the fresh issue, the initial public offering (IPO) comprised an offer for sale of 1.01 crore equity shares by promoter Ajanma Holdings Private Limited, according to the red herring prospectus (RHP). At present, Ajanma Holdings holds an 83.22 per cent stake in the Mumbai-based company. The initial share sale will open for public subscription from December 19-23. The bidding for anchor investors will open for a day on December 18, the RHP showed. Proceeds from the fresh issue will be used to fund incremental working capital requirements, support capital expenditure and for general corporate purposes. Transrail Lighting is one of the leading Indian engineering, procurement and construction (EPC) companies with a primary focus on power transmission and distribution business and integrated manufacturing facilities for lattice ...

Trust Fintech has raised Rs 18.05 crore from allocating nearly 1.8 million shares at Rs 101 to anchor investors ahead of the IPO

Purohit expects between 5 and 10 tech firms and two or three local subsidiaries of multinational companies to launch initial public offerings in the period.

One takeaway from last year is that most IPOs returned money to the investors, S Ramesh, Managing Director and CEO, Kotak Investment Banking, said

Steel products maker Shri Balaji Valve Components on Friday said it has fixed a price band of Rs 95-100 per share for its Initial Public Offering (IPO). The issue will open for public subscription on December 27 and conclude on December 29, the company said in a statement. The public issue is entirely a fresh issue of 21.6 lakh equity shares, it said. At the upper end of the prices, the company aims to raise about Rs 21.60 crore from the public issue. The company's shares are scheduled on the BSE-SME segment. The sole book-running lead manager to the issue is Hem Securities Ltd, while Bigshare Services is the registrar for the IPO. Proceeds from the issue will be utilised in funding capital expenditure towards the installation of additional plants and machines, meeting working capital requirements, and general corporate purposes. Pune-based Shri Balaji Valve Components is into manufacturing of valve components for industries like power, construction, oil and gas, and pharma.

India's share of global IPO proceeds is at an all-time high of 5.98%, Dealogic says, almost doubling in 2 years, while its share of Asia IPO proceeds has also grown to 9.9% this year from 5.9% in 2018