{
  "id": 3967633,
  "title": "From old economy to niche players, the IPO market is different, healthier",
  "url": "https://urgent.news/2026/08/28/from-old-economy-to-niche-players-the-ipo-market-is-different",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-28T13:26:56.000Z",
  "source": {
    "name": "Hindu BusinessLine",
    "slug": "hindu-businessline",
    "url": "https://www.thehindubusinessline.com/markets/from-old-economy-to-niche-players-the-ipo-market-is-different-healthier/article71400346.ece"
  },
  "original_language": "en",
  "account": "India's primary market for initial public offerings (IPOs) has transformed in recent years, evolving from a focus on the \"old economy\" sectors to a more diverse landscape of niche players. The number of IPOs listed annually has reached over 350, with both the mainboard and SME segments attracting a growing pool of companies and investors. Despite the Nifty and Sensex largely moving sideways, this trend has persisted, with particular growth in smaller, niche businesses.\n\nOld-economy sectors, once dominated by traditional industries rooted in the Industrial Revolution, are experiencing a resurgence in the capital markets. Companies spanning steel, coal, textiles, power, recycling, and metals are increasingly finding their way to the market. Examples include Lumino Industries, Annu Projects, Laser Power & Infra, Kusumgar and Aastha Spintex, Ardee Industries, Indo-MIM, and Hy-Tech Engineers.\n\nAt the other end of the spectrum, niche players have also entered the IPO market in recent times. These include Tempsens Instruments, Gaja Alternative, Rays of Belief, Kwick Forensic Solutions Ltd, and several others from Rajasthan, Madhya Pradesh, and Bihar.\n\nThe surge in IPOs is being driven by a wider and more diverse set of companies tapping public capital, rather than simply riding broader market momentum. This shift is evident in the heavy oversubscription of most IPOs, with demand remaining strong and sustained. However, a SEBI study found that about 54% of IPO shares were sold within a week of listing, indicating that investors have different goals, ranging from short-term gains to long-term investment.",
  "summary": "A broader mix of industrial, niche and institution-backed companies is reshaping India’s IPO landscape",
  "key_points": [
    "India's IPO market has shifted from old economy to niche players.",
    "Annual IPO count over 350, with growth in smaller businesses.",
    "Niche companies like Tempsens Instruments and Gaja Alternative listed."
  ],
  "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."
}