Crime Today News
Notwithstanding the slow start, the pipeline of initial public offerings in this year appears very promising with e-commerce disruptors and EV innovators such as Jio, Zepto, Ather Energy and Greaves Electric Mobility leading from the front.
The bearish sentiment in the secondary and geo-political developments have put breaks on IPOs in the last three months of this year.
With March being a complete washout for mainboard IPOs, only nine companies have raised ₹15,723 crore from the capital market since the start of this year against 22 companies mopping up ₹13,120 crore in the same period last year.
If not for the mega IPO of Hexaware Technologies and Dr Agarwal’s Health Care which raised ₹8,750 crore and ₹3,027 crore the fund-raise from IPOs last three months would have fallen sharply.
Reliance Jio Infocomm is expected to raise ₹40,000 crore through its initial share sale in Q2 or Q3 of 2025. With a valuation of ₹10 lakh crore, the Jio IPO could be India’s largest IPO.
Sensex has been down 10 per cent to 77,415 points on Friday from its all-time high of 85,978 points logged last September.
After the recent successful listing of Swiggy and Zomato, new age businesses Walmart-owned digital payments giant PhonePe and quick commerce company Zepto have relocated their headquarters to India from Singapore in preparation for IPO.
Tata Capital and HDB Financial Services plans to mop-up ₹15,000 crore and ₹12,500 crore.
VK Vijayakumar, Chief Investment Strategist, Geojit Investments said though the US President Donald Trump tariffs remain a headwind, the Indian stock market is likely to do well in next fiscal since there are many domestic tailwinds for the economy and this augurs well for both secondary and primary markets.
There has been some unhealthy trends in the IPO market, particularly in the SME segment, where even low-grade IPOs are getting subscribed and these issues may disappoint investors, he added.
Akhil Puri, Partner, Financial Advisory, Forvis Mazars in India said the secondary market appears to have stabilised after bottoming out with expectations of the upcoming March quarter results being better than the previous three quarters and this could further support positive sentiment, ultimately aiding IPO valuations.
Firms with solid credit ratings and established market positions are well-placed to attract investments, particularly given India’s strong economic growth trajectory companies cannot delay their fund-raising initiatives for long, he said.
Pipeline of IPOs
NSDL, boAT, JSW Cement, Hero FinCorp, Greaves Electric Mobility, Fab India, ESDS Software, Navi Technologies and Ebixcash.
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