April 2027 has seen a significant rebound in benchmark indices, with the BSE Sensex increasing by 4,939.36 points (6.87%) and the NSE Nifty50 rising by 1,664.30 points (7.46%). However, the primary market has lagged behind, completing only one initial public offering (IPO), Om Power Transmission, which raised ₹150 crore. This month is shaping up to be the weakest for IPO activity since March 2025, which saw no offerings. Analysts attribute the slowdown to ongoing global uncertainties, high valuations, and a selective investor appetite, particularly in light of geopolitical tensions in West Asia. The Nifty50 has struggled to maintain levels above 24,600, despite reaching a high of 24,601 earlier in the month. Concerns over disappointing IPO performances over the past year have further dampened investor enthusiasm, leading companies like PhonePe to postpone their launches. Experts suggest that until there is a decisive recovery in the secondary markets, particularly above the 25,000 to 26,000 range, primary market activity is likely to remain subdued.