Thirty-eight companies, including SBI Funds Management and Manipal Health Enterprises, have filed preliminary papers with the Securities and Exchange Board of India (SEBI) for IPOs due in March 2026. However, the increase is also due to regulatory deadlines. SEBI data shows that 22 companies filed preliminary papers for IPOs in March 2025 and 16 in March 2024. According to merchant banking sources, this momentum is expected to continue.
NSE, Jio prepare to file draft IPO
Several major companies are preparing to file draft IPO documents on the National Stock Exchange (NSE) in the coming weeks, including Reliance Industries’ telecom company Jio. Singapore-based Sembcorp Industries’ Indian renewable energy unit, Sweden’s Modern Times Group subsidiary PlaySimple, TPG-backed online lending platform Fibe, and Tiger Global-backed BatterySmart are also expected to file IPO documents (DRHP) soon.
38 companies filed documents with SEBI in March?
Of the 38 companies that have filed documents with SEBI, nine companies, including Jetwork, SNVA Traveltech, Rediff.com India, Torrent Gas, Synergy Advanced Metals, Garuda Aerospace, and Sohan Lal Commodity Management, have filed IPO documents confidentially. According to a report by Axis Capital, 64 companies have filed documents with SEBI and are awaiting approval. 124 companies have already received SEBI approval for IPOs, but their IPOs are yet to be launched. Since March 2025, another 20 companies have filed IPO documents confidentially.
18 IPOs launched so far this year
The report states that in the financial year 2025-26 (till the end of March), 109 mainboard IPOs came, of which 69 listed above their issue price. Three companies did not launch their IPOs by March 31, 2026. So far in 2026, 18 companies have launched IPOs, of which eight came in March. Digital payments company PhonePe has postponed its public listing plans due to the current geopolitical situation. However, PhonePe CEO Sameer Nigam has stated that the company remains committed to listing in India.
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