INDIA IPO MARKET
Razorpay set for confidential IPO filing; valuation may fall to around $5 billion
The fintech startup, last valued at $7.5 billion, is expected to be questioned on growth sustainability and the road to profitability; Walmart-backed PhonePe paused its $1.3 billion IPO last month, citing West Asia conflict.
Razorpay eyes IPO; Sarvam's $1.5 billion leap
Happy Monday! Razorpay is planning an IPO at a lower valuation than its $7.5 billion peak. This and more in today's ETtech Morning Dispatch.
IPOs could raise up to $25 billion in 2026, too, despite D-St caution
India's primary market anticipates a strong showing in 2026 with several large IPOs. Companies like Jio Platforms, National Stock Exchange, Zepto, PhonePe, Manipal Hospitals, and SBI Funds Management are set to launch. These issuances could collectively raise around ₹1 lakh crore. While deal numbers may decrease, the overall value is expected to remain robust.
Every rupee saved in supply chain costs goes back to customers: Zepto's Aadit Palicha at YC Startup School
Zepto aims to be India's top grocery delivery platform in the next four to five years. Cofounder Aadit Palicha believes this success could position Zepto as India's own Amazon. The company is preparing for a significant IPO, engaging with investors. Palicha highlighted the importance of early focus and operational efficiency in their growth strategy.
NSE IPO: Unlisted shares crash despite offer buzz. Are late buyers locked out of OFS route?
NSE’s unlisted shares have declined despite IPO buzz as eligibility rules restrict last-minute participation in the offer-for-sale. With a one-year holding requirement in place, new investors are locked out of the OFS route, shifting focus to valuations and post-listing performance in an increasingly selective primary market.
Sebi clears four IPOs including Avaada Electro and Grand Housing
Securities and Exchange Board of India approved IPOs of Avaada Electro Grand Housing Sonaselection India and Vishal Nirmiti with Avaada leading as a major renewable energy listing aimed at expansion and growth
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Jio preps May IPO; Wipro slips after results
Jio Platforms is edging towards a long-awaited IPO as markets wobble amid Iran tensions. This and more in today's ETtech Top 5.
Reliance Jio IPO delayed? India's largest public offer has some good news in May
Reliance Industries is reportedly planning to file draft IPO paperwork for Jio Platforms in May, incorporating full fiscal year earnings. This revised timeline, pushed back from March due to market downturns, aims to present a more favorable investor picture. The listing could be India's largest-ever IPO.
India seen as stable global capital hub with $4.4 trillion market cap: SEBI chief
India is increasingly recognized as a stable global capital hub with its market capitalization reaching USD 4.4 trillion and a total of USD 154 billion raised through equity and debt markets in FY26, according to Securities and Exchange Board of India (SEBI) Chairman Tuhin Kanta Pandey.
Citius Transnet InvIT IPO: Check GMP and subscription trends before you bid
Citius Transnet InvIT's Rs 1,105 crore IPO opened with zero grey market premium, signaling a flat debut. The issue, focusing on road infrastructure, saw lukewarm subscription on day one, primarily from non-institutional investors. With a yield-focused structure, the listing is anticipated to hover near the issue price, offering limited immediate gains.
Citius Transnet InvIT IPO opens today. Check price band, subscription and other details
Citius Transnet InvIT IPO is now open. The company aims to raise Rs 1,105 crore. Investors are showing interest in infrastructure assets that generate income. The IPO offers units at a price band of Rs 99-100. Proceeds will fund asset acquisitions. The trust operates road infrastructure across nine states. This offering targets yield-focused investors.
Logistics firms enter last mile for IPO delivery, rev up for Rs 9,000 crore issues
India's logistics sector is poised for a significant IPO cycle, with several companies preparing to raise an estimated ₹8,000-9,000 crore. Driven by improving demand and a supportive policy environment, firms like Horizon Industrial Parks, Leap India, and Shiprocket are leading the fundraising wave.
Arohan Financial plans to file for IPO within a month
Microfinance firm Arohan Financial Services is preparing to file for a ₹1,400-crore IPO within a month, aiming for a ₹600 crore primary issue and ₹800 crore offer for sale. This move follows a recovery in the microfinance sector after significant asset quality stress over the past two years.
Arohan Financial Services in final lap to file DRHP for Rs 1400 crore IPO
Arohan Financial Services plans a Rs 1,400 crore IPO, combining fresh issue and OFS, amid improving microfinance sector conditions. With better asset quality, stable growth outlook, and recovering loan portfolios, the company aims to capitalise on renewed investor confidence.
LIC’s bonus dhamaka sparks 7% rally in two days. What lies ahead?
LIC shares surged 7% in two sessions after announcing its first-ever 1:1 bonus issue, boosting investor sentiment. The move, involving capitalisation of Rs 6,325 crore reserves, signals strong financial health and may improve liquidity, though analysts remain watchful of long-term growth triggers and valuation trends.
Om Power Transmission IPO allotment: How to check status online, GMP, and listing outlook
Om Power Transmission’s ₹150 crore IPO allotment was finalised on Wednesday after a modest 3.33x subscription, led by stronger HNI participation. Shares will be credited and refunds processed on April 16, with listing scheduled on April 17 on the BSE and NSE. Investors can check allotment status via the registrar MUFG Intime India or on the BSE website.
Sebi allows companies to resize fresh issue size sans new IPO papers
SEBI has allowed companies to revise IPO fresh issue sizes by up to 50% without refiling a draft offer document, according to sources. The move aims to ease capital raising in volatile markets. Currently, firms must refile if the issue size changes by more than 20% from the original plan.
Sebi makes it easier for firms to cut IPO size after Iran war hits sentiment, email shows
Securities and Exchange Board of India has eased norms allowing firms to reduce IPO sizes amid weak market sentiment triggered by the Iran conflict, giving issuers flexibility to navigate volatility and investor caution.
LG Electronics shares rally 9% as lock-in expiry frees up 44 crore shares: Here's how stock performed since IPO
LG Electronics India shares are in focus as a six-month lock-in period ends today, freeing over 44 crore shares for trade. The stock, which listed at a premium in October 2024, has seen volatility since its debut. Analysts maintain a positive outlook, citing market leadership and growth plans.
Iran war leaves Rs 3 lakh crore IPO backlog in India. Will Reliance Jio, NSE and others end the lull soon?
India’s IPO market has slowed amid volatility and weak sentiment, despite a robust pipeline of over Rs 3 lakh crore. Companies are adopting a cautious, tactical approach to listings, while experts see the slowdown as temporary. A recovery in secondary markets and FII flows could trigger a revival, with backlog-driven launches accelerating once sentiment improves and valuations become more realistic.
LIC to issue 1 bonus share for every share held
Life Insurance Corporation of India announced its first bonus share issue in a 1:1 ratio, doubling its paid-up equity base. This move aims to reward shareholders amid the stock's underperformance since its 2022 public debut. The issuance, subject to approval, will capitalize reserves and is expected within two months.
NSE's Rs 20,000 crore mega IPO: Who can sell shares via OFS? Check eligibility, deadlines and more
The National Stock Exchange’s Rs 20,000 crore IPO is nearing launch, with a June DRHP filing expected. The issue will be a pure OFS, allowing only shareholders who held fully paid-up NSE shares since June 2025 to sell. Eligible investors must file EOIs by April 27, 2026.
Om Power Transmission IPO Day 3: Subscribed over 80%; GMP and key details
Om Power Transmission's Rs 150 crore IPO is nearing its close, with an 81% subscription rate. While retail investors show steady interest, grey market premiums suggest a modest listing gain. The company, an EPC firm in power transmission, aims to use IPO funds for expansion and debt reduction, boasting a strong order book.
Tata Chemicals, Tata Investment Corp shares rally up to 12% amid Tata Sons IPO buzz
Shares of Tata Chemicals and Tata Investment Corporation rose sharply on Monday amid growing buzz around a potential Tata Sons IPO. Support from key Tata Trusts members and stakeholders has raised expectations of value unlocking and improved governance.
Sebi chief flags India’s openness to global capital
India continues to attract global investors. Sebi chief Tuhin Kanta Pandey highlighted India's strong economic fundamentals and welcoming regulatory environment. Recent measures simplify foreign investor registration and enhance market stability. Digital platforms and growing domestic investment also contribute to market depth. India remains open to global capital.
Railway infra company Vishal Nirmiti gets Sebi nod for IPO
Vishal Nirmiti has secured Securities and Exchange Board of India approval for its IPO, comprising a fresh issue and offer for sale, with proceeds aimed at working capital, debt reduction and supporting growth across railway and EPC infrastructure segments
GIFT City’s IPO push faces teething issues
GIFT City's first IPO withdrawal, XED Executive Development's Rs 110 crore offering, highlights challenges for its stock listing ambitions. KYC issues and limited institutional participation, coupled with restrictions on domestic investors, are prompting potential issuers to reconsider listing plans in India's international finance hub.
Om Power Transmission IPO Day 2: GMP at 2%; subscription and key details
Om Power Transmission's Rs 150.06 crore IPO is in its second day of bidding, with a modest grey market premium of around 2% suggesting a listing slightly above the issue price. The IPO, open until April 13, saw 39% subscription on Day 1, with retail investors showing 30% uptake.
Om Power Transmission IPO Day 1: Subscribed 6% in early bids; Check GMP and other details
Om Power Transmission's Rs 150 crore IPO opened today, seeing 6% subscription in early hours with retail investors showing 11% interest. The company, specializing in power transmission infrastructure, aims to fund expansion and debt repayment. Grey market trends suggest a modest listing with a 4% premium over the Rs 175 issue price.
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