IPO Street Is Lighting Up As Hopes Swell, Worries Fade

More than 50 companies have got IPO approvals and over 50 filed their papers

- Priyamvada C

A spurt in activity signals that India's public listing market is bouncing back after a lull as cooling global uncertainty rekindles investor appetite, giving companies the confidence to debut on stock exchanges.

In the past week, HDB Financial Services Ltd's 12,500 crore initial public offering (IPO) sailed through. Alongside, prominent startups including Wakefit, Curefoods, Shadowfax and Pine Labs filed their draft papers with the regulator.

More than 50 companies have already received approval from the Securities and Exchange Board of India (Sebi) and are waiting to favorably time their listing date based on market conditions and performance, according to data from Prime Database. Among them are Bluestone, Kent RO Systems, Indiqube Spaces, Anthem Biosciences, Aye Finance and Veritas Finance.

"The current IPO pipeline is more than $45 billion with more than 50 companies wanting to tap IPO markets, a large part of which will likely get listed in second half of this financial year," said Kaushal Shah, managing director and head-equity capital markets, Kotak Mahindra Capital Co, adding that the momentum will continue, and investor sentiment will grow stronger.