IPO Market Gains Momentum Again

Despite market volatility and uncertainty, the IPO market is gradually regaining momentum. According to an Equirus Capital report, 23 companies have launched public issues this year to raise around ₹27,000 crore. CMR Green Technologies and Hexagon Nutrition entered the IPO market in June, while Turtlemint Fintech Solutions and Advit Jewels are set to launch their IPOs on June 19 and June 23 respectively. Waterways Leisure Tourism, which operates Cordelia Cruises, is also expected to launch its IPO this month.

The report stated that as of May this year, 236 companies were preparing for IPOs. Among them, 163 companies have already received regulatory approval, while 73 are awaiting clearance. In 2025, a record 103 IPOs raised ₹1.76 lakh crore. In comparison, 90 companies raised ₹1.60 lakh crore in 2024, while 57 companies mobilized ₹49,436 crore in 2023. During the second quarter of this year, four companies raised ₹2,422 crore through IPOs, while 19 companies collected ₹24,772 crore in the first quarter.

Turtlemint Fintech Solutions' IPO will open on June 19 and close on June 23, with listing scheduled for June 29. The company aims to raise ₹883 crore through the issue. The price band has been fixed at ₹144–₹152 per share. Of the total issue size, fresh shares worth ₹660.72 crore will be issued, while existing shareholders will sell shares worth ₹221.95 crore through the Offer for Sale route. Meanwhile, domestic investors continue to support the market through SIP investments exceeding ₹30,000 crore every month.