Is India’s popular IPO market cooled down, or is it Blip?

The report comes from CNBC’s “Inside India” newsletter this week, which brings you timely, insightful news and market commentary about emerging powers and the large companies behind their rapid rise. Like what you saw? You can subscribe here.

Every weekday, CNBC’s “Inside India” news program provides you with news and market commentary about emerging power companies and the people who are rising. Live broadcast of shows on YouTube and sparked highlights here.

Screening time:

us: Sunday to Thursday, 23:00-0000 ET
Asia: Monday to Friday, 11:00-12:00 Sin/HK, 08:30-09:30 India
Europe: Monday to Friday, 0500-06:00 CET

Twelve months ago, India’s IPO market boomsa technology startup from food and grocery stores Wiggy To electric two-wheel manufacturer Ola Electric On the cusp of their debut.

Many companies want to openly ride on the coattail of India’s growth story.

However, there have been significant changes this year.

According to Factset data, there are only 99 lists so far, compared with 147 for the same period.

Several companies include education loan provider Avanse Financial Services, contract drugmaker National Anthem Biosciences and the Indian division of LG Electronics own Put their listing plans aside Despite approval from the Securities and Exchange Commission of India (SEBI), it is in light of investor sentiment and desolate macroeconomic outlook.

Additionally, the debut of electric scooter maker Ather Energy on May 6 (after experiencing a two-month stagnation on the motherboard list) failed to ease the market’s attention. The stock fell by Rs 328 (Rs 328 per share ($3.79)), and the share price fell by more than 3% with a premium of about 2% of Rs 321.

“The IPO market is frustrating, especially in the first quarter, due to weak rupee and global volatility in the war and the evolving tariff situation,” Peeyush Mittal, portfolio manager at Matthews Asia, told CNBC’s CNBC in India.

In addition, foreign investment portfolio investment 220% decline in the first five months of this year According to data from the national securities depositors, compared with the same period in 2024.

However, a more pressing question is Slow down consumption levels Rishika Chandan, managing partner of Venturi Partners, is in the company’s revenue.

Chandan added that many good private equity consumer brands have historically increased profitability by 35% to 40% each year, ended in March for fiscal 2025, up just 15% to 20%, without the need to attribute to tighter consumer wallets.

“It’s not a big number,” she said, adding that the company has now postponed their plans to go public, partly because it took advantage of higher sales during the holiday season later this year.

RBI Recent slowdown Government measures to stimulate consumption may eventually translate into higher spending, Chandan said it still takes more time for businesses to see higher incomes and profits.

Chandan added: “Anyone who wants to be publicly disclosed may expand it and wait for the valuation mark. This will also give them higher forward value, which will allow for IPO underwriting based on profitability assessments.”

For example, Raised $6.4 billion Stock sales from the Indian market to May make it the highest monthly total since December 2024. Block deals are the largest contributor at $5.5 billion. Sales activity showed no signs of a slowdown this month, with at least 10 blocks raising $1.2 billion in the first week, according to data compiled by Bloomberg.

Dhruba Jyoti Sengupta, CEO of Wrise Management Middle East, said India’s “fundamental fundamentals are solid”.

He told CNBC inside India that he told CNBC: “With over $12 billion of SEBI liquidated IPOs and over 130 companies in Wings, India’s main market just pauses before the next leap. A very different story will be told in the second half of the year.”

Sengupta foresaw a few lists, including those from Reliance Jio, Tata Capital and LG Electronics India.

Mukesh Ambani-backed Reliance Jio is expected to be released later this year INR 400 billion listing. Sengupta hopes the company – this Faith industry – Become “one of India’s largest (list) ever, showing the ambition of a digital ecosystem that profits at scale”.

Similarly, Tata Capital is reportedly planning to acquire Regulators approve listing for $2 billion. “Even conservative conglomerates now see public capital as strategic, not just financial,” Sengupta notes. “The list of tata Sons subsidiaries says even conservative conglomerates,” Sengupta notes.

Elsewhere, the Wealth Manager considered the “game changer” listed by LG Electronics India. He added that if successful, it would show interest from foreign multinationals in the Indian market, given their “domestic retail traffic and regulatory stability”.

In startups, Venturi Soft Silver,,,,, KKR and Temasek. It is reported that the glasses company is Close to submitting its preliminary draft proposal And may raise $1 billion from listing.

Cator, founder and managing partner of Venturi, was curious about how much it could accumulate in the public market. “Lenskart is doing a great job as a company and in a good quantity. So its listing will be a good indicator of how private investors can rate a company, especially in the pre-IPO round.”

Other lists Carter and Chandan are watching include a list of city companies for cleaning and personal care providers, Submit documents in April and jewelry players bluestonethis is for Unicorn status advance IPO.

Looking ahead, Mittal and Wrise’s Sengupta expect India’s capital market to have new equity issuance and potentially stronger listing pipelines as the country Growth is about to become the fourth largest in the world.

“Today India is reminiscent of the United States in the early 2000s and China in the post-2009 era – when the IPO market grows from speculative to strategic listing. India is no longer just an emerging market – it is becoming an IPO destination with depth, diversity and discipline,” Sengupta said.

Modi and Trump disagree with our role in Pakistan’s ceasefire. Indian Prime Minister Narendra Modi called U.S. President Donald Trump on Tuesday, who “clearly communicates South Asian countries”No, and never accept mediation“In the conflict with Pakistan, statement Foreign Minister Vikram Misri.

India is considering expanding its production of rare earth elements. Indian officials are evaluating the potential of government-owned company India Rare Earths as China imposes stricter restrictions on its exports of rare earths, which are crucial for the manufacturing of electric vehicles and military equipment. Fill in the gaps in the supply chain.

There is no “major security issue” in Air India’s fleet. The Indian aviation safety regulator, the Civil Aviation Administration, said on Tuesday that it had inspected the Indian Air Force’s 787 fleet and No major exceptions were found. The airline is Cut international flights on its wide-body aircraft The next few weeks were 15%. Air India plane heading to London crashed on June 12 in Ahmedabad, India Kill all 242 passengers.

Dave Ernsberger, co-president of S&P Global Cossicity Insights, discussed this week’s CNBC TV the need to build energy reserves, especially in light of potential global oil supply disruptions. However, this goal cannot be achieved only by expanding oil and gas production. “The only way India has truly gained energy independence is to build energy Renewable energy provided in China,” Ernsberg said.

Meanwhile, Anand Gupta, managing director of Allianz Global Investors, said that although India’s defense department has oneIncreased lifespan“And there will be market share and stocks will not be traded at a “reasonable price”. Gupta said there are better stock picking opportunities in the Indian market, such as stock opportunities in its consumer discretion sector.