Another IPO Record? Despite Sensex Slump, Over 200 Companies Ready For Market Debut

India's initial public offering market is heading toward a third consecutive blockbuster year, with a packed pipeline to build on its third-quarter momentum, punctuated by blockbuster deals.Listing proceeds surpassed $9 billion in July-September, the most ever for the period, according to data compiled by Bloomberg. That pushed total fundraising so far this year to more than $13 billion and on track for one of the best years in history, the data show. FOLLOW MARKETS LIVE UPDATESDeals in India ramped up after a more subdued start of the year, in a large part thanks to large initial public offerings by National Stock Exchange of India Ltd., SBI Funds Management Ltd. and Manipal Health Enterprises Ltd. -- which together raised more than $4.3 billion. Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better PayThe pace underscores the resilience of India's primary market even as the broader equity market struggles with volatility and weaker investor sentiment. The benchmark NSE NIFTY 50 has fallen about 13 per cent this year, making India the second-worst-performing major equity market globally after Indonesia. Strong domestic liquidity and demand from institutional investors have helped companies continue to tap the market even as investors become more selective on valuations."While market volatility may influence the timing of individual transactions, the underlying drivers of activity remain intact," said Samarth Jagnani, managing director and head of global capital markets for India and Southeast Asia at Morgan Stanley.With another bumper quarter, the 2026 fundraising total could approximate the record hauls of the last two years, both above $20 billion. The end of the year is traditionally the strongest in India. Among the larger offerings being prepared are Jio Platforms Ltd.'s proposed share sale of more than $3.1 billion, Avaada Electro Ltd.'s $800 million IPO and a $400 million deal by Advanta Enterprises.The large backlog gives bankers considerable visibility on issuance into the final quarter and potentially early 2027. Still, the timing of deals will depend on market conditions, investor appetite and issuers' willingness to meet increasingly price-sensitive buyers."With several large listings expected in the coming months, a strong IPO pipeline in India supports another potential record year," said Kailash Soni, head of India equity capital markets at Goldman Sachs. "Market volatility and the availability of execution windows will determine the pace at which these offerings launch."About 144 companies have already received regulatory approvals to launch IPOs, including Oravel Stays Ltd., Torrent Gas Ltd. and Sify Infinit Spaces Ltd.Another 73 companies have filed draft prospectuses with the market regulator and are awaiting approval. The pipeline includes Carlsberg India Ltd. and MakeMyTrip India Ltd., among others. Bankers expect some of those approvals to come through in time for issuers to tap the market before the end of the year.(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)