India’s IPO Season Heats Up After Months of Silence

After a lull, India’s IPO market is warming up again. Over 70 companies have got the go-ahead to raise a whopping ₹1.4 lakh crore, and nearly 70 more are waiting in line with plans to bring in another ₹95,000 crore. In total, about ₹2.35 lakh crore could be raised if all goes to plan.

This renewed excitement follows the recent clearance for six major IPOs, including HDB Financial’s massive ₹12,500 crore offering. Others like Dorf Ketal Chemicals and Vikram Solar are also set to enter the fray soon.

For months, the market had gone quiet, with many companies hitting pause on their listing dreams. But things began to pick up in May, encouraging more firms to make their move. The mood, however, is still cautious.

Recent listings haven’t exactly thrilled investors. Companies like Ather Energy and Schloss Bangalore didn’t get the warm welcome they hoped for—some listed below expectations, while others had to shrink the size of their IPOs before launch. This has kept investors on edge, waiting for a stronger signal before diving back in.

What the market really needs now is a big success story.

Market experts believe that a blockbuster debut—perhaps from HDB Financial or the long-awaited IPO of the National Stock Exchange—could change the game. “A major listing that performs well could bring back the energy and optimism,” said U R Bhat of Alphaniti Fintech.

Nilesh Shah of Kotak Mutual Fund echoed the sentiment, noting that both promoters and investors are finally starting to agree on valuations. “Earlier, companies were waiting. Now, they’re stepping forward,” he said.

Investors are hopeful that if a few big names hit the mark, it could open the floodgates for many more. 

Also Read: NSE Records 268 IPOs in 2024, Setting Asia’s Highest Annual Benchmark