{
  "id": 11074813,
  "title": "IPO Rush: 50-plus firms file DRHPs ahead of Sebi deadline",
  "url": "https://urgent.news/2026/10/01/ipo-rush-50-plus-firms-file-drhps-ahead-of-sebi-deadline",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-01T01:01:12.000Z",
  "source": {
    "name": "The Economic Times - Top News",
    "slug": "the-economic-times-top-news",
    "url": "https://economictimes.indiatimes.com/markets/ipos/fpos/ipo-rush-continues-50-plus-companies-file-drhps-ahead-of-sebi-deadline/articleshow/134605736.cms"
  },
  "original_language": "en",
  "account": "Mumbai witnessed a surge in Draft Red Herring Prospectus (DRHP) filings as over 50 companies submitted them to the Securities and Exchange Board of India (Sebi) in September 2025, marking the busiest month in a year. Among the filings were confidential DRHPs from various firms, showcasing the urgency among companies. Experts attribute this rush to a regulatory deadline imposed by Sebi, which stipulates that companies with a March 31 fiscal year-end can only use their audited annual results in a DRHP until September 30. After this deadline, issuers must update their filings with recent financials, adding to the workload and potentially delaying the IPO process. Securities regulations require the audited financials in the offer document to be no older than six months, as explained by Venkatraghavan S, managing director of equity capital markets at Equirus Capital. Consequently, companies with their last audit dated March 31 are keen to file their DRHPs before the September 30 deadline. Missing this deadline could necessitate a fresh stub-period audit, refresh of due diligence, and an extended IPO process, as stated by Ratiraj Tibrewal, director at Choice Capital Advisors. The heightened activity is also attributed to a return of IPOs after a period of market volatility, with several deals initially delayed since April now resuming. India has experienced a significant increase in IPO launches since July, with 12 IPOs raising ₹28,650 crore in July, 23 IPOs raising ₹22,452 crore in August, and 34 IPOs raising ₹39,400 crore in September.",
  "summary": "September 2025 marked a significant increase in Draft Red Herring Prospectuses submitted to Sebi with 55 submissions. Companies with a March 31 fiscal year end rushed to file before the September 30 deadline. Failing to meet this deadline could complicate their IPO plans, requiring updated audits and due diligence. The IPO market has surged since July, recovering from previous delays in activity.",
  "key_points": [
    "Over 50 companies filed Draft Red Herring Prospectus (DRHP) with Sebi in September 2025.",
    "Regulatory deadline imposed by Sebi for companies with March 31 fiscal year-end.",
    "Companies aim to file before September 30 to avoid fresh audits and delays."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}