India's IPO pipeline swells to ₹4.67 lakh crore with NSE and Jio approvals
Over 230 companies have sought approval for initial public offerings totaling nearly ₹4.67 trillion, marking a significant revival in India's primary market after a slow first half of the year.
India's primary market is entering a strong phase as the total pipeline of companies preparing to tap investors has grown significantly. Data from Prime Database indicates that 158 companies have received Securities and Exchange Board of India (Sebi) approval to raise ₹2,96,258 crore through initial public offerings (IPOs). An additional 72 companies have filed draft papers to raise another ₹1,70,680 crore. Together, these categories represent a potential IPO pipeline of approximately ₹4,67,000 crore.
Notable offerings in the queue include the National Stock Exchange (NSE), Jio Platforms, Zepto, Hero FinCorp, Kent RO Systems, Avaada Electro, Oravel Stays, PhonePe, and Cult.fit. The NSE's long-awaited IPO, expected to raise around ₹30,000 crore, received a draft offer plan approval from Sebi on Friday. Similarly, Jio Platforms of Reliance Industries received Sebi approval to commence its process.
Jio Platforms aims to launch an estimated $4-billion offering, which would stand as India's largest IPO to date if executed according to plans. This surge in activity occurs when the IPO market has sharply revived following a dull first half.
