IPO market gears up for festive rush: 15 mainboard issues worth ₹10,000 cr to hit D-street

The Indian primary market is gearing up for a busy festive season, with 15 mainboard initial public offerings (IPOs) collectively worth around ₹10,000 crore scheduled to open for subscription in the coming weeks. IPO rush is likely to keep investment bankers, brokers, and market participants busy as companies are looking to capitalise on stable secondary market conditions and positive investor sentiment ahead of the festive season, said analysts.

Among the companies expected to hit the market are iValue Infosolutions, Saatvik Green Energy, GK Energy, Park Medicity Hospital, Jain Resource Recycling, Anand Rathi Share & Stock Brokers, and others, with individual issue sizes ranging from ₹125 crore to over ₹1,250 crore.

Jin Kushal Industries, Atlanta Electricals, Solar World, CIEL HR, Ganesh Consumer, Seshaasai Technologies, Jaro Institute of Technology Management and Research, TruAlt Bioenergy and Epack Prefab Technologies are also set to launch their IPOs.

“September is usually a busy month in the IPO market,” said Anil Sharma, Co-founder, IPO Central, a primary market research platform. “According to data compiled by IPOCentral for the last 7 years, September stood out as the third busiest month after December and November. Looks September 2025 isn't going to be different with 11 mainboard listings.”

On a year-to-date (YTD) basis, as many as 51 mainboard IPOs have raised nearly ₹72,000 crore, while several more companies are lined up in the primary market.

“The primary market essentially is active when the secondary market is either stable or somewhat bullish. Now, the secondary market, for a variety of reasons, has been fairly range-bound over the last few months. However, what would have encouraged prospective issuers are some of the recent listings and the subscription levels,” said Pranav Haldea, Managing Director, Prime Database.

Another aspect to consider is that many companies would be nearing the one-year time period of validity of Sebi approval, he pointed out. “Instead of waiting for potentially better market conditions and also thus running the risk of the approval expiring, they are choosing to proceed now.”

In contrast, Anil Sharma of IPO Central believes that despite a strong IPO pipeline, it is noteworthy that the market sentiments aren't upbeat. “Several of the recent offerings were trimmed in a tacit acknowledgement of docile undercurrents.”

Global uncertainties and slowdown concerns, in part, are driving the primary market fund raising as promoters and investors scramble to offload their stakes and safeguard themselves, he said.

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