IPO Rush returns to a silence as shareholders seek out exits

Copyright © HT Digital Streams Limit all rights reserved. Priyamvada c 5 min Read 02 Jul 2025, 05:30 am IT In the first six months of 2025, about 24 companies became public to raise around £ 45.334 crore compared to £ 31,279 over 36 companies a year before, according to Prime Database. (PTI) Summary More than 50 companies have already received IPO approval and more than 50 have submitted their papers in the hope of going public later this year or early next year. Mumbai: An activity -powered indication that India’s public listing market is coming up again after a silence as a cooling of global uncertainty, which flares up investors’ appetite, giving companies the confidence to debut on stock exchanges. Over the past week, HDB Financial Services Ltd’s Initial Public Offer (IPO) of £ 12,500 Crore advanced. In addition, prominent startups, including Wakefit, Curefoods, Shadowfax and Pine Labs, submitted their concept papers to the regulator. More than 50 companies have already received approval from the Securities and Exchange Board of India (Sebi) and are waiting to give their listing date favorably based on market conditions and performance, according to data from the Prime database. Among them are Bluestone, Kent RO systems, Indiquube spaces, folk song biosciences, Aye Finance and Veritas Finance. “The current IPO pipeline is more than US $ 45 billion, with more than 50 companies wanting to use the IPO markets, a large part of which is likely to be listed in the second half of this financial year,” says Kaushal Shah, managing director and main equity capital markets, Kotak Mahindra Capital Co., adding that the momentum will continue to grow. That’s not all. Over 50 firms, their draft papers have submitted to Sebi waiting for the approval of the regulator to be disclosed later this year or early next year. According to Prime Database, this includes Tata Capital, Physicswallah, Pine Labs, capillary technologies, Curefoods, orkla India, Gaja Capital, Shiprocket, Groww, Urban Company, Lalithaa Jewelery Mart, Hero Motors. Others such as German green steel and power, Silverton Industries and Juniper Green Energy have also submitted their preliminary papers to the regulator over the past week. In the first six months of 2025, approximately 24 companies became public to raise around £ 45,334 crore compared to £ 31,279 crore in 36 companies a year earlier, according to Prime Database. However, 2024 was a record year for IPOs with £ 1.59 billion in 91 businesses. The pace has slowed down as global uncertainty deepened after September last year. The recent de-escalation in geopolitical tension, the expectation of alleviating trade uncertainties, along with other macro factors such as strong GDP growth and reduction in interest rates, has led to a reduced market volatility, which strengthened the confidence of investors in HSBC India, a vice-chairman of investment bank. “The recovery began from April 2025 when the sales intensity of FIIs was relieved, while they turned net buyers,” Malhotra said. “With many companies ready/already on public filing and at the back of the robust H2 2025 pipeline, we believe that the momentum would continue.” Startups, including Inframarket, of Business, Money View, Kissht, Mostho and Turtleminth, are also expected to submit their draft papers soon. The Indian capital markets see a variety of sectors that use on a bursary trading on the back of strong macro and company performance, according to Shah of Kotak Mahindra Capital. “The capital markets offer an alternative to increasing growth capital as well as monetization by shareholders, which is otherwise limited.” Calibrated valuations The setback in IPO activity reflects investor optimism after a period of volatility caused by US President Donald Trump’s decision to impose rates on trade partners and geopolitical tension since the beginning of this year. The Indian markets have remained volatile over the past six months, with Nifty 6.7% from January 1 to April 7, before dropping a setback to near record levels. Increased uncertainty has meant that IPOs have also dried up, with April making only $ 350 million. Many businesses have also been forced to review their outreach sizes and valuations, while businesses such as LG Electronics India have decided to postpone their market debut to wait for more favorable market conditions. May and June sold IPOs worth $ 2.7 billion, backed by a revival in secondary markets, sold and follow -up fund, Kotak’s Shah said. Some of the prominent expenses this year include HDB Financial Services IPO late last month, Hexaware Technologies Ltd. £ 8,750 Crore issue in February, Schloss Bangalore’s £ 3.500 list in May, dr. Agarwal’s healthcare’s £ 3.027 crore in January in April. IPO “Although there were few isolated cases of some of the new businesses that experienced delays in their IPO process due to market and geopolitical conditions, we can expect many of them to hit the street in the next 3-6 months,” says Abhishek Bhagat, managing director of JM Financial’s digital and technology investment bank. “Valuations have also undergone some correction over the past few months, as the delta has lowered between the expected and the trading price,” he added. For example, Ather Energy has reduced the size of its IPO to a little over £ 2,600 crore at the time of listing, lower than the initial target range of up to £ 3,100 crore. Its valuation also reduced to $ 1.4 billion, lower than the previous target of $ 2 billion. Valuation calibration in some of the recent release reflects the sensitivity around external factors, despite the fact that the market is nine months high, HSBC India Malhotra said. Exit-exit shareholders, while 2024 were a record exchange trading, were more than half of £ 1.59 trillion driven by the offer-for-sell component, as several fund managers supporting these businesses were at the end of their fund live cycle. This meant that they had to sell significant interests in these IPOs to return money to their investors. If the retirement pressure arises and with companies that have the ability to increase capital, even to the list, JM Financial’s Bhagat expects the tendency of a larger OFS component this year to dominate some of the issues. With more signs of stability, the primary market is also expected to see higher activity, as this essentially reflects the performance of the secondary market, said Pranav Haldea, managing director of Prime Database. The companies that IPOs usually launch after a silence are either a serious need for capital or where the sale of shareholders is putting pressure to get an exit, he said. There is also a third bracket of businesses that did about three to four years of leg work to get IPO ready and nodded. Rather, they just want to continue, even with lower valuations, instead of making the approval and pasting the entire process, Haldea said. “Although there were not so many launches in the first half of the year, as many as 115 companies still submitted their draft papers to Sebi for approval. The pipeline has thus increased significantly and will Haldea said.” “These businesses also understand the new market reality. Also good businesses with strong fundamentals and management can grow to their true potential, even after they have a list, and thus do not necessitate the value taximization at the time of the IPO.” Catch all the business news, market news, news reports and latest news updates on Live Mint. Download the Mint News app to get daily market updates. More Topics #ipo #ipos #Investors Read Next Story