New Delhi: Despite ongoing global market volatility, nearly 90 companies have submitted draft red herring prospectuses (DRHPs) with the Securities and Exchange Board of India (SEBI) between January and May 2025, signalling continued interest in going public.
Data from the SEBI website reveals that January saw the highest activity, with 28 companies filing draft papers, followed by 15 in February, 11 in March, 24 in April, and 12 so far in May.
The surge in DRHP filings comes at a time when the actual number of initial public offerings (IPOs) hitting the market has been significantly lower compared to the same period last year.
Only nine companies have made their debut on the mainboard segment between January and May this year, compared to over 25 in the same period in 2024.
Among the notable names that have filed for IPOs this year are Canara HSBC Life Insurance, Canara Robeco Asset Management Company, Anand Rathi Share and Stock Brokers, and WeWork India.
Filing a DRHP is the first step for companies aiming to raise funds through an IPO. The document outlines key information such as financial performance, business operations, risks, and other disclosures required by the SEBI.
While the interest in IPOs remains steady, the weak listing momentum reflects broader concerns triggered by global uncertainties.
The Indian equity markets have experienced significant fluctuations in 2025, impacted by geopolitical tensions and tariff-related measures, particularly from the United States.
Since the beginning of the year, the Sensex has posted a return of 2.73 per cent, while the Nifty has gained around 3 per cent — both reflecting cautious optimism amid a turbulent global environment.
Meanwhile, IPOs in the biopharmaceutical sector saw a sharp rebound in 2024, jumping 68.4 per cent year-on-year (YoY) to $8.52 billion, according to a new report by GlobalData.
A total of 50 IPOs were completed globally in the sector this year, up from $5.06 billion raised in 2023, making it the strongest year for biopharma IPOs since 2021, the report said.