India's initial public offering is progressing strongly than ever before, successfully resisting the wave of sell-offs in the secondary market. According to data compiled by primedatabase.com, September set a series of records, with both the number of deals initiated and the number of draft prospectus submissions reaching record highs. In the same month, a total of 34 companies raised more than 393 billion rupees through IPOs, while 46 companies also submitted draft documents for the main board IPO. This active transaction flow has also drawn the attention of global funds. According to data from the National Securities Depository of India, global funds have invested nearly 545 billion rupees in the primary market this year. In contrast, they sold around 3 trillion rupees of shares in the secondary market, while the Indian stock market is facing the longest continuous weekly decline in nearly 25 years. This divergence in capital flows shows that investors are becoming more picky about allocating capital in the Indian market. Despite valuation and earnings concerns putting pressure on the stock market, attractively priced newly listed companies and growing domestic capital pools still provide opportunities for companies to raise capital in a difficult market environment.

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