24 IPOs mobilise ₹9500 crore in June as primary market activity picks up

Mint

27-06-2025

India's primary market witnessed another busy month in June, as companies lined up to list their shares on Dalal Street amid improving sentiment toward riskier assets, bringing back the buoyancy seen earlier in 2025.
Activity, which had remained muted after February, picked up momentum in May, driven by easing fears of a global recession led by tariff tensions and supported by favourable domestic conditions. The RBI's multiple interest rate cuts and its continued confidence in a domestically driven economy have restored much-needed investor confidence, pushing equities higher.
The rebound in sentiment has prompted many companies to revive stake sale plans that were previously put on hold in anticipation of better market conditions. Reports also suggest that nearly 75 companies have received SEBI approval to raise funds from investors, indicating that IPO fervour is likely to remain intact.
In the current month so far, 24 companies have successfully raised ₹ 9,525 crore from the Indian stock market, according to Trendlyne data. The SME segment dominated the fresh issues, accounting for 75% of the total, while the remaining 25% came from the mainboard segment.
Investor interest in these new issues remained mixed. Around 50% of the IPOs received total subscriptions of less than 10 times, whereas eight companies saw strong demand, with subscription levels ranging from 90 to 291 times.
Sacheerome topped the chart, with its issue subscribed 291 times, followed by Eppeltone Engineers, Mayasheel Ventures, Influx Healthtech, and Monolithisch India, all of which were subscribed over 100 times.
Amid strong investor demand, several of these stocks have also been listed with significant gains. Eppeltone Engineers, for instance, debuted at ₹ 243, marking a 90% premium over its IPO price of ₹ 128, and is currently trading 89% above its issue price.
Likewise, Monolithisch India was listed at ₹ 243, a 61.9% gain over its IPO price of ₹ 143, and is currently trading 92.9% higher. Overall, 15 stocks, including those from both the SME and mainboard segments, are currently trading above their respective issue prices.
Among the larger IPOs launched in June were Schloss Bangalore, Aegis Vopak Terminals, and Oswal Pumps, with issue sizes of ₹ 3,500 crore, ₹ 2,800 crore, and ₹ 1,387 crore, respectively.
The pipeline for new listings in July also looks buoyant, with 26 issues expected to hit Dalal Street in the first two weeks. Bidding for the majority of these IPOs has already opened for investors.
A total of seven IPOs, including Kalpataru, Ellenbarrie Industrial Gases, Globe Civil Projects, AJC Jewel Manufacturers, Shri HareKrishna Sponge Iron, Icon Facilitators, and Abram Food are likely to debut on the exchanges on July 1.
Meanwhile, HDB Financial Services, the largest offering in the nation's equity market since Hyundai Motor India Ltd.'s ₹ 27,870 crore deal last year, will see its bidding close today and is likely to list on both BSE and NSE on July 2.
Meanwhile, LG Electronics India, which is another Korean-based company, has received approval for a ₹ 15,000 crore offer-for-sale (OFS). At the same time, Walmart Inc.'s PhonePe, India's largest provider of digital payments, is also reportedly preparing to file preliminary documents for an initial public offering (IPO) that may raise as much as $1.5 billion.