Zepto anchors Rs 45,000 cr July IPO rush alongside SBI MF, Manipal Health
India's primary market revival sees ~Rs 45,000 cr in July listings, led by quick-commerce player Zepto's estimated Rs 8,000 cr offering. SBI MF (Rs 12,000-13,000 cr) and Manipal Health (Rs 11,000 cr) headline a broader pipeline of 65 companies and Rs 2 lakh crore awaiting approval.
What happened
July IPO rush of ~Rs 45,000 cr includes quick-commerce player Zepto's estimated Rs 8,000 cr offering alongside SBI MF, Manipal Health and others, signaling a
Key facts
- Rs 45,000 cr total
- Zepto Rs 8,000 cr
- SBI MF Rs 12,000-13,000 cr
- Manipal Rs 11,000 cr
- 65 companies awaiting approval
- Rs 2 lakh crore pipeline
Why this matters
The Rs 2 lakh crore pipeline of 65 companies awaiting approval opens a rich window for M&A, pre-IPO stakes, and valuation benchmarking in quick-commerce and beyond.
What to watch
- Zepto subscription multiples by investor category (QIB vs retail vs HNI)
- GMV/burn and path-to-profit disclosures in Zepto RHP
- Nifty/midcap index behavior and FII flows during July window
- Listing-day pops or discounts on the first 2-3 large IPOs as sentiment tells
- SEBI approval cadence on the 65-company backlog
- Zepto finalizes DRHP terms and valuation band, likely benchmarking against Eternal/Zomato and Swiggy Instamart multiples
- Anchor-book roadshows to domestic MFs and sovereign/global funds ahead of price discovery
- Rival quick-commerce and consumer-tech names accelerate or delay filings based on Zepto's reception
- Merchant bankers stagger listing dates to avoid clashing liquidity draw within the July window