# India IPO market matures as investors turn cautious 2026-08-12T00:54:01+00:00 | Business & Economy | Indian Opinion Desk Corroboration: 2 independent outlets India’s IPO market is shifting from momentum to maturity, according to a Grant Thornton Bharat report. Average oversubscription nearly halved to 39 times in FY26 from 71 times in FY25, while listing-day gains dropped to 7 per cent from 29 per cent. The average annual performance of IPOs stood at negative 17 per cent. Smaller issues suffered most, with listing gains of just 2 per cent. Offer-for-sale transactions made up 61 per cent of mainboard proceeds, and debt repayment was the biggest use of funds. Market experts caution that investors are becoming more discerning. In an interview with Times Now, independent analyst Ambareesh Baliga advised looking at valuations and promoters leaving room for investors. Feroze Azeez of Anand Rathi Wealth said IPOs are a sign of confidence, but investors should be careful not to overpay for future growth. Both said stretched valuations and sudden earnings improvements are red flags. ## Coverage - businesstoday.in - timesnownews.com Tags: financial services, Grant Thornton, IPO, listing gains, oversubscription, primary market Canonical: https://indianopinion.org/india-ipo-market-matures-as-investors-seek-profits-fair-valuations/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/india-ipo-market-matures-as-investors-seek-profits-fair-valuations/#story-in-brief Review state: restored archive article, accurate at time of publication, not offered to search indexes.