1 / 12After a lull in March and April, India’s primary markets are buzzing again. A recovery in the stock market has resulted in companies heading back to tap the primary markets, gauging a revival in investor appetite.
2 / 12Capital markets regulator SEBI (Securities and Exchange Board of India) has cleared the way for 15 companies to tap the capital markets recently. These IPOs that have been granted approval, are worth ₹37,000 crore.
3 / 12Among the approved IPOs, Hero Fincorp, HDB Financial, and Credila Financial Services stand out as some of the prominent names. HDFC Bank’s unit HDB Financial alone plans to raise a massive ₹12,500 crore.
4 / 12HDB Financial’s ₹12,500 crore IPO comprises a fresh issue of ₹2,500 crore and an offer for sale (OFS) of ₹10,000 crore by parent HDFC Bank, which currently holds a 94.3% stake in the company. The listing is a regulatory requirement, as HDB Financial Services falls under the “Upper Layer” category of Non-Banking Financial Companies (NBFCs) pursuant to the Reserve Bank of India’s (RBI) October 2022 circular. As per RBI norms, all NBFCs classified in this category must be listed within three years of notification, by September this year.
5 / 12The IPO of Hero FinCorp, backed by ChrysCapital and part of the Hero MotoCorp group, has received SEBI’s approval to float a ₹3,668 crore IPO. The public offer is a combination of fresh issue of equity shares worth ₹2,100 crore and an OFS component of ₹1,568 crore by existing investors.
6 / 12Vikram Solar has also received approval from SEBI to proceed with its IPO. The IPO will include a fresh issue of shares valued at up to Rs 1,500 crore and an offer for sale of up to 1.7 crore equity shares by promoters.
7 / 12LG Electronics is now targeting launching the IPO of its Indian unit in the second or third quarter of fiscal year 2026, instead of May.
8 / 12Brigade Hotel Ventures had filed for its IPO papers last year with the market regulator. The IPO comprised of a fresh issue of shares worth ₹900 crore. There is no Offer for Sale (OFS) component for the IPO.
9 / 12NSDL had filed an addendum to the DRHP with SEBI for its IPO, while trimming the issue size to 5 crore shares from 5.7 crore as announced earlier. IDBI Bank, NSE and Union Bank of India are the biggest shareholders in NSDL, who will be offloading their stake in the firm.
10 / 12According to Prime Database, the IPO pipeline is now larger than ever. A total of 72 companies have already received SEBI clearance for IPOs. These approvals represent a potential fundraising of ₹1.4 lakh crore.
11 / 12An additional 68 companies are waiting for regulatory approval. These pending IPOs could collectively raise ₹94,000 crore.
12 / 12In total, 140 companies, approved and pending, plan to raise ₹2.35 lakh crore through India’s primary markets in the near future.
