New Delhi, June 4 -- In a slow primary market, a pipeline of niche financial sector initial public offerings (IPOs) worth around Rs.3,700 crore is stuck in extended marketing due to ongoing investor education efforts before their share sales can proceed, according to multiple people aware of the matter.

Asset Reconstruction Co. (India) Ltd, alternatives investment company EAAA India Alternatives Ltd, and private equity firm Gaja Alternative Asset Management Ltd have not launched their share sales despite obtaining regulatory clearance months ago. For context, the Securities and Exchange Board of India (Sebi) cleared Arcil's and Gaja's IPOs in October 2025. Gaja subsequently filed updated draft papers in December 2025. Meanwhile, EAAA's o...