Major Breakthrough: India’s Primary Market Marks Highest Number Of Listings, Reaches Peak For The First Time In 28 Years

New Delhi: India’s primary market witnessed its most active September in nearly 28 years, with 25 companies going public on the mainboard. This marks the highest number of listings since January 1997, when 28 companies were listed.

The Small and Medium Enterprises (SME) segment also set a record, recording 53 Initial Public Offerings (IPOs) that raised Rs 2,309 crore—the highest ever in a single month both in terms of volume and value, according to stock exchange data. Overall, a total of 25 IPOs raised over Rs 13,300 crore during September.

Meanwhile, SMEs raised Rs 9,129 crore through 207 listings, surpassing previous annual fundraising records even though a quarter of the year remains. Analysts attribute this boom to strong foreign institutional inflows as well as sustained demand from retail investors and mutual funds, despite volatility in the secondary markets.

Mutual funds, insurance companies, pension funds, and retail investors continue to actively pursue new issues amid valuation concerns in the secondary market.

In the broader market, the Sensex has edged up from 80,364 to 80,795, with the BSE MidCap and BSE SmallCap indices outperforming the benchmark indices.

India also climbed to the third position globally in tech startup funding, trailing only the United States and the United Kingdom, while surpassing countries like Germany and France.

In a recent board meeting, the Securities and Exchange Board of India (SEBI) decided to revise the minimum public shareholding (MPS) norms for large companies planning initial public offerings. Under the new rules, companies with a market capitalization between Rs 50,000 crore and Rs 1 lakh crore will get extended timelines to meet public shareholding requirements.

These firms will now be required to achieve 15% MPS within five years of listing, and 25% MPS within ten years. Currently, companies must meet the 25% threshold within three years of listing.

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