E-Paper
Zepto, Truhome Finance to lead IPO rush as firms target over ₹25,000 crore
More than 12 companies, led by Zepto and Shiprocket, are set to launch IPOs worth over ₹25,000 crore amid improving market sentiment.
India's primary market is set for another busy month, with more than a dozen companies, including Zepto, Shiprocket, and Elevate Campuses, preparing to launch their initial public offerings (IPOs). The upcoming issues are reportedly expected to collectively raise more than ₹25,000 crore.
The offering features a mix of fresh equity issues and offers for sale (OFS), reflecting healthy demand for new listings.
Also read: Biggest public offering in India: NSE to file for IPO at nearly ₹30,000 crore; LIC to stay put
Zepto, Truhome and Shiprocket lead IPO
Among the biggest offerings, Zepto has planned an IPO comprising a fresh issue up to ₹8,010 crore along with an offer for sale of up to 11.34 crore. The company, which competes with Blinkit, Swiggy Instamart and BigBasket in India's quick commerce market, plans to use proceeds from the fresh issue to expand its dark-store network, strengthen technology infrastructure and support growth initiatives.
Also read: Zepto co-founders got ED summons in FEMA case, firm's IPO draft documents say | What we know
Housing finance firm Truhome Finance is planning a ₹3,000-crore IPO, comprising a fresh issue of shares worth up to ₹1,500 crore and an offer for sale of an equal amount, news agency PTI reported.
Education infrastructure company Elevate Campuses intends to raise ₹2,550 crore through an entirely fresh issue, while logistics platform Shiprocket plans for a ₹2,342.35-crore IPO, including a fresh issue of up to ₹1,100 crore and an offer for sale worth ₹1,242.35 crore.
Other companies planning to enter the primary market include Innovatiview India, which aims to raise up to ₹2,000 crore entirely through an OFS, and Milky Mist Dairy Food, which has proposed a ₹1,553-crore issue.
Dhoot Transmission, ARCIL (Asset Reconstruction Company India Ltd), Ardee Industries, Gaja Alternative Asset Management, Rays of Belief, Hy-Tech Engineers, Shankesh Jewellers and Learnfluence Education are also issuing IPO.
Market sentiment improves
Merchant bankers believe companies that had delayed their listing plans are now returning to the market as investor confidence strengthens.
"With markets stabilising and investor sentiment improving, companies that were waiting on the sidelines are now moving ahead with their IPO plans," said Bhavesh Shah, MD & Head-Investment Banking at Equirus Capital, as cited by PTI.
The strong IPO pipeline comes amid sustained activity in India's primary market this year. So far, 36 companies have launched IPOs in 2026, including nine that entered the market this month. Looking ahead, Manipal Health Enterprises and Juniper Green Energy are scheduled to start their public issues on July 29 and July 30, respectively, while MV Electrosystems is also set to launch its IPO next week.
Also read: Why SpaceX shares are slumping after a blockbuster IPO: Explained
Outlook remains strong despite volatility
Investment bankers remain optimistic about the long-term outlook for India's IPO ecosystem, citing the growing preference among businesses to raise capital through public markets.
"The primary market has undergone a structural transformation, with equity becoming an increasingly preferred source of growth capital. While there will always be tactical pauses driven by market volatility, the underlying pipeline remains very strong. I continue to expect India to raise around USD 20 billion through IPOs this calendar year," he was quoted as saying.
Shah also said investors are becoming increasingly selective while evaluating new listings and well-priced IPOs are likely to continue delivering healthy returns, while aggressively valued offerings may witness limited upside, as investors become increasingly selective rather than indiscriminately bullish.
(With inputs from agencies)
