“There is clearly more selectivity. In the ₹2,000–3,000 crore range, deals need sharper differentiation on growth, quality, and valuation to see strong traction,” said Raghav Gupta, joint chief executive officer, IIFL Capital. He added that there is rising participation from family offices, high networth individual/ ultrahigh networth individual (HNIs/UHNI) investors, and alternative investment funds (AIFs) while select global long-only investors continue to back mid-sized, high-quality stories.
Small IPOs face listing delays as mutual funds turn selective amid broader market volatilities
