Upcoming IPOs in India 2026: List of The Most Anticipated Public Issues

The year 2026 is shaping up as a landmark period for India’s IPO market, with expectations of fundraising hitting nearly $20 billion. 

This surge is driven by marquee names across technology, telecom, finance, and consumer sectors preparing to go public. Reliance Jio, the National Stock Exchange (NSE), Flipkart, PhonePe, SBI Mutual Fund, Zepto, and OYO are among the top anticipated listings. 

Source: EconomicTimes

Together, these IPOs could redefine India’s capital market landscape and attract massive institutional and retail investor interest.

Why 2026 is Looking for an IPO Boom

India’s primary market has grown rapidly over the past five years, with companies raising ₹5.39 lakh crore from 2020 to 2025, surpassing the previous two-decade total. This growth is largely due to a sharp increase in average IPO sizes, with ₹1,605 crore per IPO on average recently compared to only ₹692 crore earlier. Private equity investors and promoters are increasingly looking to monetise their stakes, driving a strong pipeline of large offerings.

The approaching IPOs reflect this momentum and investor appetite for large, well-established firms. 

Also read: What is Initial Public Offer (IPO)?

Reliance Jio: The Largest IPO in Indian History?

The most awaited IPO is that of Reliance Jio, expected to be valued between ₹11 lakh crore and ₹12 lakh crore. If launched in 2026, it will be India’s largest-ever IPO, dwarfing previous records and setting a new benchmark. Given Jio’s dominant position in telecom and digital services, its listing will likely attract huge institutional demand and retail investor enthusiasm, reshaping market dynamics for months.

National Stock Exchange IPO: A Market Institution Goes Public

The National Stock Exchange’s IPO is gaining momentum after years of anticipation. The exchange is addressing regulatory hurdles and setting aside Rs 1,300 crore to clear pending issues with SEBI, paving the way for one of India’s most awaited public listings. As the country’s leading stock exchange, its IPO is expected to appeal strongly to institutional investors seeking exposure to India’s growing capital markets ecosystem.

Consumer and Digital Economy Giants

The digital economy is well represented with several key consumer-technology companies planning IPOs in 2026. Flipkart and PhonePe are among the largest tech platforms preparing to go public, alongside OYO, which aims to be one of the largest travel-tech listings in India.

• PhonePe is targeting a $1.5 billion IPO at a valuation of around $15 billion, signaling strong confidence in digital payments and fintech adoption.
• OYO is focusing on stabilizing profitability ahead of an IPO that could raise up to $800 million.

These IPOs are expected to capture investor interest by highlighting India’s fast-growing digital services industry and large customer bases.

Other Notable IPOs To Look For

• SBI Mutual Fund planning to raise up to $1.2 billion in its IPO. As India’s largest asset management company by assets, this IPO offers investors direct exposure to growing mutual fund penetration in India.

• ICICI Prudential AMC, the country’s second-largest asset manager, has begun investor roadshows in anticipation of its IPO. These listings reflect investor interest in asset management and financial services growth.

• Hero Fincorp aims to raise Rs 3,668.13 crore through a mix of fresh equity issuance and offer-for-sale, strengthening its position in the non-banking financial sector.
• Zepto, the quick-commerce startup, is preparing to file draft documents for a $450–500 million IPO through a mix of fresh equity and investor exits.

Conclusion

With giant IPOs lined up, 2026 could redefine India’s equity markets by attracting deeper retail participation and creating new benchmarks for fund-raising. Institutional investors will likely be keen to tap into these well-established companies, potentially pushing IPO subscription numbers to new highs.

Whether 2026 becomes the biggest year in Indian IPO history or sets the stage for future growth, it will undoubtedly be a defining chapter for India’s capital markets.

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