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India regulator bars mutual funds from pre-IPO placements ahead of listing surge
SEBI bars Indian mutual funds from pre-IPO placements as market prepares for heavy IPO pipeline in Q4 2025.
Securities & Exchange Board of India (SEBI) has prohibited mutual funds from participating in pre-IPO placements, citing the risk that such funds may end up holding unlisted shares if an IPO does not proceed. The move comes as India’s primary market gears up for an estimated $8 billion in IPOs in the final quarter of 2025. Fund houses will need to adjust strategies, especially those targeting ultra-high-net-worth clients via pre-listing deals.