Markets
Conditions improve for the 170 firms awaiting listing despite regulatory clearance
India’s IPO backlog follows a record year in 2025, during which companies raised more than $22 billion across roughly 370 debuts, according to an EY analysis.
MUMBAI — India’s initial public offering market is showing signs of revival after six subdued months, as the energy‑related strain from the U.S.–Iran conflict eases and two landmark listings approach, fuelling optimism that the momentum seen last year can be rekindled.