As investor confidence strengthens, market analysts emphasise the importance of valuation discipline for the success of these upcoming issuances

After over six months of slowdown, India’s primary market is reviving on easing geopolitical tensions, rising equity markets and softer crude prices, boosting sentiment and investor confidence, with nearly 50 companies likely to launch IPOs in the next three months.

Ten companies, including SBI Mutual Fund, Zepto, Juniper Green and Elevate Campuses are expected to collectively raise more than ₹33,000 crore through initial public offerings (IPOs).

Additionally, a large pipeline is building due to regulatory timelines: SEBI-approved IPOs of 37 companies worth about ₹27,000 crore must be launched before the September 30 deadline. Together, these could potentially push total fundraising to nearly ₹60,000 crore within the next three months.

Signs of revival

Market participants remain optimistic. Anirudh Garg, Partner and Fund Manager at INVasset PMS, said, “The IPO market is showing clear signs of revival, and the next two months should see a meaningful pickup in primary issuances.” He added that stable secondary markets have encouraged issuers and bankers to advance large-cap offerings.

Investor appetite appears to be returning strongly. Recent IPOs of CMR Green Technologies and Hexagon Nutrition raised ₹770 crore, with CMR’s issue attracting bids worth ₹56,000 crore against a ₹630 crore offer, highlighting the market’s buoyant sentiment.

Further boosting sentiment are anticipated filings from marquee names such as NSE and Jio Reliance Infocomm. Lokesh Manik, Senior Analyst at Vallum Capital, said, “Companies with SEBI approval are waiting to raise ₹3 lakh crore from the IPO market. The September 30 SEBI deadline will also force many to take the plunge and create a surge in volume between July and August.”

However, market experts caution that valuation discipline will be key. Narinder Wadhwa, MD & CEO of SKI Capital Services, observed that retail investors are now prioritising fundamentals and earnings visibility over chasing listing gains, a shift that could shape the success of upcoming IPOs.

“Valuation discipline will be critical for upcoming marquee issuers, which have already generated significant interest in the pre-IPO market among retail and high-net-worth investors,” Wadhwa added.

Published on June 17, 2026