Blockbuster November Looms for India’s IPO Market with Over ₹76,000 Crore Worth of Issues Lined Up
India’s initial public offering (IPO) market is set for a spectacular November, with public issues spanning the technology, renewables, healthcare, and consumer sectors ready to make waves. An estimated ₹76,000 crore (approximately $8.57 billion) is expected to be mobilized this month, positioning it as one of the busiest periods for the country’s primary market.
Key IPOs to Watch
– Lenskart: ₹7,200 crore offer opening on October 31 and closing on November 4.
– Groww: Scheduled to launch a ₹6,600 crore IPO in the first week of November.
– Other notable offerings include:
– ICICI Prudential AMC: ₹10,000 crore
– Pine Labs: ₹6,100 crore
– Cleanmax Enviro Energy: ₹5,200 crore
– Juniper Green Energy: ₹3,000 crore
Several mid-sized players are also entering the fray, including:
– Park Medi World
– Innovatiview India
– NephroPlus
– Veeda Clinical Research
– Fujiyama Power Systems
Market Optimism
The final quarter of the year typically emerges as a dynamic period for IPOs, a trend bolstered by favorable market conditions. V. Jayasankar, managing director at Kotak Mahindra Capital Company, noted that the last quarter could account for around 50% of the annual IPO volume, echoing the previous year’s successes.
– Market Recovery: A rebound in the secondary market has emboldened companies to proceed with their IPOs.
– Investor Sentiment: The Sensex and Nifty indices have risen over 5% in October, nearing their record highs.
Deep Shah of Unistone Capital remarked, “Investors are eager to capitalize on the positive sentiment surrounding the Nifty around 26,000 levels.”
Regulatory Pressures
Another factor fueling the IPO rush is the 135-day validity rule for US investors, which mandates that financial statements must be fresh and cannot be older than 135 days at the time of offering. Geetanjali Kedia, a senior research analyst at SP Tulsian Investment Advisor, pointed out that companies with financial statements dated June 30, 2025, face a tight deadline to attract investors before the window closes.
In conclusion, with a remarkable array of IPOs on the horizon, November is poised to be a pivotal month for India’s IPO market, making it an exciting time for investors and issuers alike. The blend of favorable market conditions, investor enthusiasm, and regulatory urgency underscores the significance of this upcoming period.