Mint Explainer | Can Zerodha crack India’s investment banking business?

Why is the timing appropriate?

Zerodha’s move also comes at a time when India’s primary market remains active despite volatility. After the 2025 record, where 103 companies almost increased ₹The $1.76 trillion sales pipeline through Motherboard IPOs remains solid. According to an Equirus Capital report, as of May this year, 236 companies were in various stages of the IPO process; Companies from different sectors, from consumer brands to fintech, manufacturing and logistics, were preparing to expand into public markets. Recent and upcoming public issues include companies like Turtlemint Fintech, Hexagon Nutrition, CMR Green Technologies and Pristine Logistics, while major names like Zepto, PhonePe, Reliance Jio, NSE and Tata Play are expected to enter the markets in the next few years.