A Mega IPO Bonanza in July! From Zepto to SBI Funds, issues worth ₹45,000 crore to hit the market..
Activity is set to pick up again in India's primary market starting in July. After a period of sluggishness over the past few months, more than a dozen companies are preparing to launch their Initial Public Offerings (IPOs). According to investment bankers, these companies could collectively aim to raise approximately ₹45,000 crore.
Companies are rapidly advancing their listing plans, driven by robust market conditions, ample liquidity among investors, and stability in key stock indices.
The largest IPO expected in July is that of SBI Funds Management, which aims to raise between ₹12,000 crore and ₹13,000 crore. This is likely to be followed by Manipal Health Enterprises (targeting around ₹11,000 crore) and quick-commerce firm Zepto (targeting approximately ₹8,000 crore). The combined size of these three IPOs amounts to roughly ₹32,000 crore.
Additionally, companies such as Gaja Capital, Nac Packaging, Innovative View, Raise of Belief, Learnfluence Education, Veegaland Developers, Juniper Green, Karmatara Engineering, Augmont Enterprises, Integris Medtech, Laser Power, and Elevate Campus are preparing to enter the market. These are expected to raise an additional ₹10,000 crore to ₹12,000 crore.
**Sluggishness in May**
While the IPO market had performed impressively in the second half of 2025, activity slowed down earlier this year due to geopolitical uncertainties linked to the conflict involving Iran and subdued participation by Foreign Institutional Investors (FIIs).
Eighteen IPOs were launched up to April, but no new issues hit the market in May. In June, six companies launched their IPOs.
**Investors Now More Cautious**
Sonia Dasgupta, Head of Investment Banking and CEO at JM Financial, notes that investors are now investing with greater prudence and caution compared to the past. They are prioritizing companies with strong financial foundations, clear growth prospects, and sustainable business models.
**Multiple positive signals for the IPO market**
Experts believe that easing tensions in West Asia will reduce global uncertainty and boost investor confidence. Meanwhile, certain regulatory changes introduced by SEBI have made it easier for mid-sized companies to list on the stock market.
**Momentum to continue**
According to investment bankers, over 200 companies are currently preparing to launch IPOs. As of June 19, 173 companies had received SEBI approval to raise approximately ₹2.7 lakh crore, while another 64 companies were awaiting approval.
These include two potentially massive IPOs: the National Stock Exchange’s issue, valued at around ₹30,000 crore, and Jio Platforms’ IPO, estimated at approximately ₹37,700 crore. Experts believe that if market conditions remain favorable, India's IPO market could set new records in the second half of the 2026-27 fiscal year.
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