IPO Filings Surge In March As 38 Companies Submit Draft Papers To SEBI

March 2026 witnessed the highest ever number of 38 filings made by companies with SEBI for filing their draft IPO registration, as opposed to just 22 filings made in March 2025 and 16 filings made in March 2024, as per SEBI records.

Invest in Indian Markets and Unlock Future Potential With 5paisa!

Open Account Now

Despite the tough market conditions, some of the filings that have been made include those by SBI Funds Management and Manipal Health Enterprises.

Strong Pipeline Builds Up

According to an Axis Capital report, 64 companies have filed draft red herring prospectuses (DRHPs) and are awaiting regulatory approval. In addition, 124 companies have already received SEBI approval but are yet to launch their public issues, while 20 firms have filed confidential DRHPs since March 2025.

Among the 38 applications submitted in the month of March 2026, nine firms, comprising Zetwerk, SNVA Traveltech, Rediff.com India, Torrent Gas, Synergy Advanced Metals, Garuda Aerospace, and Sohan Lal Commodity Management, preferred to go for the confidential filing process.

According to the report, 109 IPOs had been floated on the main board IPO till March-end in FY2025-26. Among these, 69 companies had been listed at a price higher than the issue price, whereas three others were yet to be listed.

Activity Continues Despite Volatility

In 2026, up to now, 18 companies have gone for IPOs with eight of them having done so in the month of March itself amid uncertainties worldwide. While some have decided to put off their initial public offerings owing to the current market situation, one such company is PhonePe, an online payment portal.

At the same time, several companies are preparing to enter the market. Merchant banking sources cited by Moneycontrol indicated that firms such as the National Stock Exchange and Reliance Industries’ telecom arm Jio are expected to file draft papers in the coming weeks.

Other companies, including Sembcorp Industries’ India renewable arm, PlaySimple, Fibe, and BatterySmart, are also likely to submit IPO documents.

Filing Trends Reflect Preparedness

An unusually high number of companies submitted their drafts near the end of March, with more than a dozen filings happening in the last two days of the month. This trend follows the pattern where companies file before the year-end to ensure that their approval period remains open up to one year.

This increase in the volume of applications is due to the stockpile of firms that have obtained approval to join the market. Some companies already have approvals for their listings.

These high March figures depict the presence of a healthy IPO pipeline comprising several companies that are already approved.