New Delhi: Despite volatility in Stock Market, several companies are set to launch IPOs. Around 38 companies, including SBI Funds Management and Manipal Health Enterprises, filed preliminary IPO papers with Sebi in March 2026, reflecting the growing confidence of both investors and companies.
PTI cited an Axis Capital report to mention that a total of 38 companies filed draft papers (DRHPs) for IPOs with SEBI in March 2026. In March 2025, 22 companies had applied for the same, while in March 2024, 16 companies had applied for initial public offer.
Indian IPO Market: March 2026 Filings Soar
With more and more companies lining up to launch IPOs, it clearly shows that despite the recent fall in the stock market, firms are viewing the environment as an opportunity.
The merchant banking sources are positive about the momentum as several high-profile companies, including the National Stock Exchange (NSE) and Reliance Industries’ telecom arm Jio, are preparing for IPO launch.
Some of the companies which filed draft papers with the market regulator include SBI Funds Management Manipal Health Enterprises, Zetwerk, Rediff.com India, and Garuda Aerospace. Notably, nine firms opted to file papers through the confidential route.
Singapore-based Sembcorp Industries’ Indian renewable energy arm, Sweden-based Modern Times Group’s subsidiary PlaySimple, TPG-backed online lending platform Fibe and Tiger Global-backed BatterySmart are expected to file DRHPs soon.
The Axis Capital report further mentioned that 64 companies are currently awaiting SEBI approval, while 124 have received the green signal but are yet to enter the market. The first quarter of FY2026-27 is expected to see several IPOs.
Meanwhile, PhonePe has postponed its IPO plans for now.
Pratik Loonker, MD & Head- ECM and Co-Head- Financial Sponsor Group at Axis Capital, said the IPO trend is backed by preparedness than outright confidence.
“Given regulatory approval timelines and the difficulty of timing markets, companies are filing early to stay ready for favourable windows as they emerge. Regulatory approvals are valid for up to 12 months,” he said.
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