|
India's IPO activity has continued to stay resilient, with 175 companies currently holding valid SEBI observations for their draft IPO papers and another 70 firms awaiting regulatory clearance, as per a report by Equirus.
The report noted that India's IPO activity increased sharply in Sep-25 with 25 issues on robust markets and strong domestic inflows. It added, larger ticket IPOs, totalling above Rs 1,500 crore, were concentrated in the Oct-Nov-25 window. Furthermore, mainboard issuance hit a three-year high in both deal count and capital mobilised, driven by large-cap supply as corporates utilized favourable market windows during FY26. "Jun-26 saw a rebound to 7 issues as the US-Iran ceasefire framework eased macro uncertainty, though volumes remain well below the Sep-25 peak," it noted. Mid-sized IPOs emerged as the standout performers in FY26, with issues in the Rs 1,000-1,500 crore range delivering the strongest listing gains. As per Equirus, this trend indicates a clear shift in investor preference towards companies offering stronger earnings visibility and established business fundamentals, rather than smaller IPOs driven primarily by market sentiment. As per Equirus, Media, Consumer and Healthcare (MCH) emerged as the major fundraising sector, standing at Rs 112,214 crore, followed by industrials at Rs 82,783 crore and BFSI at Rs 71,341 crore in the last 12 months. Apart from this, the infrastructure sector witnessed the strongest fresh-issue orientation at 72 per cent, which was consistent with the sector's comparatively high primary-capital requirements. "IT/Tech/Telecom was the most monetisation-led segment, with OFS comprising approximately 79 per cent of funds raised, while others had a relatively balanced structure with a 56 per cent fresh-issue share," it said. Additionally, Foreign Portfolio Investors (FPIs) emerged as the largest anchor investors, committing Rs 40,396 crore, reflecting strong global risk appetite for India's high-growth sectors. On the other hand, the domestic mutual funds closely followed with investments of Rs 36,439 crore. Within this, the insurance companies invested Rs 8,456 crore while financial institutions and banks contributed Rs 7,565 crore, with participation largely driven by balance sheet and yield considerations rather than growth-focused investments. Alternative Investment Funds (AIFs) invested Rs 4,854 crore, remaining selective and concentrating on specific opportunities within the anchor segment. Meanwhile, venture capital firms and non-banking financial companies (NBFCs) played a marginal role, with VCs investing Rs 458 crore and NBFCs committing Rs 1,750 crore, constrained by regulatory capital requirements. (ANI)
|
