2026 mein IPOs ke zariye **₹1 Lakh Crore** se zyada fund raise hua hai, par twist ye hai ki **61%** paisa business growth mein nahi, balki purane shareholders ko exit dene mein ja raha hai.
Indian market mein IPOs ki raftaar toh badhi hai, par asli khel kuch aur hai. Is saal ab tak ₹1 Lakh Crore se zyada ka fund joota gaya hai, lekin retail investors ke liye samajhna zaruri hai ki ye paisa kahan ja raha hai. Lagbhag 61% fund 'Offer for Sale' (OFS) hai. Matlab, ye paisa company ke business expansion ya nayi factory lagane mein nahi, balki private equity players aur promoters ki jeb mein ja raha hai.
FPIs ka naya gameplan
Foreign Portfolio Investors (FPIs) ab apna paisa secondary market se nikaal kar IPOs mein shift kar rahe hain. Unhone secondary market se lagbhag ₹2.84 Lakh Crore nikaale hain. IPOs mein shift hone ka faayda ye hai ki unhe bade chunks mein shares bina market price badhaye mil jaate hain. Ye unki portfolio rebalancing ki ek badi strategy hai.
Listing day ka josh thanda pad gaya
Ek time tha jab IPOs 29% tak listing day par jump maarte the, par ab ye average ghir kar sirf 7% reh gaya hai. National Stock Exchange aur BSE jaise listings mein bhi ab investors kaafi cautious ho gaye hain. Market ka discipline badh raha hai aur log ab mehenge valuations par aankh band karke paisa nahi laga rahe.
Aage ka raasta aur risk
Pipeline abhi bhi full hai. 160 companies ke paas SEBI ka approval hai aur 75 line mein khadi hain. Investors ko ab savdhaan rehna chahiye, khaaskar Reserve Bank of India ki interest rate policy ko le kar. Agar rates badhe, toh company ki earnings par pressure aayega. Agli baar jab kisi IPO mein paisa daalein, toh prospectus zarur padhein ki paisa company ki growth ke liye hai ya sirf promoters ko exit dene ke liye.