DRHP filings surge to 118 in H12025 amid strong valuation appetite

Experts say the robust filing suggests the second half of the year will see large-scale issuances, provided the markets remain supportive

The filing of draft red herring prospectuses (DRHPs) picked up pace during the first half of 2025, reflecting continued optimism among promoters to list, thanks to the attractive valuations on offer.

 

In the first half of 2025, 118 companies filed offer documents, compared to 52 during the same period in 2024. The cumulative amount that companies filing their DRHPs this year are looking to raise is ₹1.6 trillion, compared to ₹1 trillion during H12024.

 

Among the marquee companies filing offer documents this year are Groww, Pine Labs, Waterways Leisure Tourism (which operates Cordelia Cruises), Lalitha Jewellery Mart, Canara Robeco Asset