The IPO pipeline is filling up fast. IPO Guru's tracker has logged 167 DRHP stories in October so far, against 41 in the whole of September, and 24 SEBI approvals. A DRHP is the draft prospectus a company files with SEBI before an IPO.
What the count actually measures
The 167 is stories, not companies. One filing can be reported by several outlets and by SEBI's own list, and each gets logged. So read it as a measure of activity, not as 167 new IPOs. The comparison still holds, because both months are counted the same way. October is 11 days old and has already logged about four times September's total.
SEBI approvals tell a cleaner story. We have recorded 24 so far this month. An approval is valid for 12 months, so it does not mean the IPO comes next week.
Where companies sit today
| Stage (mainboard) | Companies tracked |
|---|---|
| DRHP filed, waiting for SEBI | 46 |
| SEBI approval received | 6 |
| Price band announced | 3 |
Some tracked companies carry no board tag yet, so the table covers only those marked mainboard. The three at the price band stage are the issues on the week-ahead list that have announced terms.
How long is SEBI's queue?
| Status in SEBI's weekly report | Drafts |
|---|---|
| Under review | 77 |
| Awaiting lead manager reply | 38 |
| Awaiting exchange | 4 |
| On hold | 1 |
| Observations issued | 1 |
That adds up to 121 drafts. Most of them are with SEBI or waiting on the company's bankers to answer its questions. Only a handful are close to the end of the process.
The biggest names in the pipeline
By reported size, the largest filed drafts we track are Coca-Cola India at about ₹8,500 crore and OfBusiness at about ₹7,000 crore. Both are at the DRHP stage, so sizes can change. Closer to launch, Zetwerk is at ₹2,830 crore fresh issue and Bonfiglioli at about ₹2,500 crore. HyFun Foods, a McDonald's supplier, is at the planning stage with a reported ₹2,000 crore. Reported sizes are not final until the RHP is filed.
What our data shows
The pipeline has three layers: 46 mainboard drafts waiting, 6 approved and 3 with a price band. Between the first and the last layer sits a long queue. If the DRHP count stays this high, SEBI's queue will grow before it shrinks. Our tracker does not show how many of the 46 will reach the market this year.
What happens next
SEBI publishes its processing status every week, and we update the queue figures when it does. The dates of IPOs that have a price band are on the IPO calendar, and every filed name is listed on the upcoming mainboard IPO page.
