India's IPO frenzy continues with Rs 2.6 lakh cr in pipeline

New Delhi, Oct 17 (PTI) The primary market remains buoyant, with more than a dozen companies gearing up to launch their initial public offerings (IPOs) in the coming months, aiming to raise about Rs 2.6 lakh crore (nearly USD 28 billion), Chirag Setalvad, Fund Manager at HDFC Mutual Fund, said on Friday.

Of this, Tata Capital, LG Electronics India, and WeWork India Management have already raised around Rs 30,000 crore collectively.

The upcoming line-up includes prominent names such as PhonePe, ICICI Prudential AMC, Lenskart, Groww, Inox Clean Energy, Pine Labs, Credila, Clean Max Enviro, Dorf Ketal Chemicals, Fractal Analytics, Meesho, SMPP, and Yashoda Hospitals, he said in a webinar.

So far this year, 81 companies have debuted on the stock exchanges, with nearly three dozen listings taking place in September and October alone, highlighting the depth of activity in the primary market.

The robust activity comes on the back of a solid 2024, when 91 public issues collectively mobilised Rs 1.6 lakh crore, supported by resilient retail participation, a booming economy, and strong private capital expenditure.

The fundraising momentum is expected to help companies finance capital expenditure, expansion plans, debt repayment, and other general corporate purposes.

Setalvad noted that while the IPO pipeline remains robust, not all new listings have delivered strong post-listing performance. "On average, around 42 per cent of IPOs launched in 2024 and 2025 each are loss-making," he said, adding that investors should remain focused on fundamentally strong businesses.

On the broader economy, Setalvad said India continues to demonstrate resilience even as uncertainty persists in the global economic environment. PTI SP SHW