IPOs worth ₹1.1L crore lined up for November-December
What's the story
The primary market in India is witnessing a massive surge with over ₹1.13 lakh crore worth of initial public offerings (IPOs) lined up for November and December. This comes on the back of a record fundraising of around ₹46,000 crore in October. The upcoming IPOs scheduled for November include major players like Groww and Lenskart, with others like PhonePe and Pine Labs in the queue or awaiting regulatory clearance.
Upcoming listings
Major upcoming IPOs with received regulatory clearance
The upcoming IPO pipeline is equally promising, with over 80 companies planning issues worth around ₹1.13 lakh crore, according to Prime Database. Among these are high-profile names such as Pine Labs (₹6,180 crore), Dorf-Ketal Chemicals and Credila Financial Services (both ₹5,000 crore each), SMPP and PhysicsWallah (both ₹4,000 crore each). These companies have already received SEBI's approval.
Regulatory approvals
Large issues awaiting regulatory clearance
A number of large issues are waiting for regulatory clearance. These include PhonePe's ₹11,000 crore offering, ₹10,000 crore IPOs by Avaada Electro and ICICI Prudential AMC, Meesho's ₹8,500 crore issue, Inox Clean Energy's ₹6,000 crore plan, and Fractal Analytics's ₹4,900 crore offer. Many company boards are keen to advance listings while sentiment remains favorable amid a steady flow of DRHPs and SEBI approvals.
Market demand
Sustained activity expected in primary market
Pranav Haldea, Managing Director at Prime Database, said there is no dearth of supply with robust demand from both domestic institutions and individual investors. The indices have also risen by about 5% in October, which bodes well for IPO launches. Ratiraj Tibrewal, CEO of Choice Capital Advisors, added that unless global macro or liquidity conditions shift sharply, the primary market is likely to witness sustained activity and healthy subscription levels in the coming months.