New Delhi, Feb. 9 -- After a brief lull in the primary market, several IPOs are poised to begin in the upcoming months. Today, we have the Fractal Analytics IPO and Aye Finance IPO open for bidding though interest in both appears to be low.

Analysts maintain a structurally negative outlook on the IPO market for 2026. They believe the market has lost tolerance for indiscipline; obvious PE dumping and aggressively exit-driven IPOs are no longer viable. Significant losses have been incurred over the previous cycle by both retail and institutional investors, leading to a shift in behavior. The time of inflated valuations and easy pump-and-dump offerings is over.

"SME IPOs, in particular, will struggle badly this year-many simply won't survi...