In March 2026, 38 companies filed preliminary IPO papers with the Securities and Exchange Board of India (Sebi), marking a significant increase from 22 filings in March 2025 and 16 in March 2024. This surge indicates improved issuer sentiment, driven by a combination of regulatory compliance and increased confidence among companies. Notable firms such as SBI Funds Management and Manipal Health Enterprises are among those filing, with expectations that high-profile companies like the National Stock Exchange (NSE) and Reliance Industries' telecom arm Jio will submit their draft papers soon. Currently, 64 companies are awaiting clearance from Sebi, while 124 have received approval but have not yet entered the market. Despite volatile market conditions, 18 companies have launched IPOs in 2026, with 8 of those occurring in March alone. PhonePe has temporarily deferred its listing due to geopolitical tensions but remains committed to going public. Analysts suggest that the increase in filings is not solely due to regulatory timelines but reflects a broader confidence in the market, with companies preparing for favorable conditions. The quality of companies entering the IPO pipeline is also improving, indicating a shift towards a fundamentals-led market.