India’s IPO Pipeline Swells: Over 150 Companies DRHP-Ready, Filings Poised to Double in Coming Months

India’s IPO scene is buzzing like never before. Over 150 companies are already prepped with their Draft Red Herring Prospectuses (DRHPs), which could double in five or six months. Why the surge? Strong investor confidence and a supportive regulatory climate are setting the stage.

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IPO Market on the Move

March 2025 was a standout month. Twenty-two companies filed DRHPs, with 17 rushing in just last week. That flurry of filings shows the market’s heating up fast. What’s driving it? A stable economy, more cash in the system, and investors ready to bet on new listings.

This IPO wave is also impressively diverse. Companies from sectors like renewable energy, logistics, healthcare, edtech, and finance are all jumping in. Big names like PhysicsWallah, Park Medi World, and Saatvik Green Energy are already in line, showing this boom isn’t limited to just one type of business.

What the Experts Are Saying

Merchant bankers are feeling optimistic. Thanks to steps taken by SEBI, the Securities and Exchange Board of India, the IPO process is moving faster. With additional disclosure rules in place, approvals that used to take much longer now wrap up in under three months.

That said, SEBI isn’t just speeding things up. They’re also tightening the rules to ensure transparency. Now, any missing info in a DRHP can result in the whole thing being sent back. It’s a faster but stricter game.

Big Names, Big Plans

Here are some of the headliners you’ll want to watch:

• Tata Capital: This Tata Group company is planning a massive ₹15,000 crore IPO, targeting a listing by September 2025.
• Captain Fresh: A B2B seafood startup aiming to raise $350–$400 million. Axis Capital and Bank of America are backing the deal.
• Fractal: This AI-powered SaaS company is eyeing a $500 million IPO at a $3.5 billion valuation, with a filing expected by November 2025.
• IndiQube: A coworking space startup considering a ₹1,000–₹1,500 crore IPO later this year.
• BlueStone: The jewellery brand offers a ₹1,000 crore fresh issue and sells up to 2.4 crore existing shares.
   

SEBI’s Next Moves

SEBI isn’t done yet. Alongside speeding up approvals, it’s also planning stricter rules for merchant bankers. The goal? Keep the process clean, fair, and investor-friendly. These upcoming changes are designed to boost trust and keep India’s capital markets strong.

What’s Ahead?

With many companies ready to go public and regulators streamlining the process, India’s IPO market is set for a high-energy phase. Both investors and market players are gearing up for a busy, possibly record-breaking year, proof that confidence in India’s economic growth is running high.