ANKUR TYAGI
After a dull start to the year, India’s IPO market has sprung back to life. By September, 145 companies had gone public — 57 on the main board and 88 on the SME exchange, according to official data.
A rocky beginning
Between February and April, investors were cautious. Stock markets were under pressure, with benchmark indices facing five months of continuous losses. For many retail investors, it was a testing phase — portfolios shrank, and the excitement around IPOs almost disappeared.
The slowdown was a stark contrast to 2024, when more than 150 companies went public in a record-breaking year.
A turning point in June
The mood began to shift as markets stabilised. By June, fresh issues were back, giving both seasoned investors and first-time participants a reason to look forward again.
Well-known companies such as Hexaware Technologies, Dr Agarwal’s Health Care, and Ather Energy drew strong participation. Interestingly, the size of IPOs has almost doubled compared to last year, showing a renewed appetite for bigger bets.
How smaller businesses joined the party
The revival was not just about large corporate names. For many small and medium enterprises (SMEs), IPOs became an opportunity to unlock capital and grow.
- June saw SMEs raise more than ₹1,300 crore.
- In July, they collected ₹1,205 crore.
- By mid-August, 14 SME listings had already added another ₹626 crore.
For entrepreneurs, these fundraisings meant expansion and fresh visibility. For small investors, many of these SME listings turned into opportunities for quick gains, boosting confidence in the broader market.
What it means for ordinary investors
The rebound in IPO activity has been more than just numbers. It reflects growing confidence in India’s growth story. Investors who were once hesitant are now seeing new opportunities, while companies — both big and small — are using the market to fuel their ambitions.
What lies ahead
Experts say the IPO pipeline looks busy for the next year. Nearly 80 companies are preparing to go public, possibly raising close to ₹2.9 lakh crore. With thousands of private firms already earning revenues above $100 million, the scope for more listings is huge.
For everyday investors, this means plenty of choices — but also the need for caution. While IPOs can offer exciting opportunities, not every listing guarantees success.
Abhishek Sinha
