Indian IPOs Fairly Priced, Despite Moderating Gains: Axis Capital MD

• Axis Capital MD Suraj Krishnaswamy states Indian IPOs are now fairly priced, not aggressively, despite moderating listing gains.
• He clarifies that declining listing gains are not due to aggressive pricing, and "listing pop" is a poor indicator of pricing discipline.
• IPO fundraising of Rs 1.5 lakh crore is expected to be the baseline for 2026, driven by tech, QIPs, block deals, and InvITs.
• MNCs are increasingly opting for Indian subsidiary IPOs, citing market maturity and SEBI's regulatory stability.
• InvITs are gaining significant domestic investor interest due to perceived risk-free nature, attractive returns, and regulatory support.

Why It Matters: Indian IPOs are now fairly valued, with moderating listing gains reflecting market maturity, not aggressive pricing.