India IPO market: $9 billion raised in Sept qtr, over 200 companies in pipeline; Jio, Avaada next
India's IPO market raised a record $9 billion in Q3 2026, taking fundraising past $13 billion. Over 200 companies are in the IPO pipeline.
- Sep 30, 2026,
- Updated Sep 30, 2026 12:56 PM IST
India’s initial public offering (IPO) market is heading towards a third straight blockbuster year, with a heavy pipeline set to build on strong momentum in the July-September quarter. Bloomberg data show listing proceeds crossed $9 billion (Rs 86,500 crore) in the quarter, the highest ever for the period, taking total fundraising so far in 2026 to more than $13 billion (Rs 1.24 lakh crore).
The latest quarter has put India on track for one of its best years on record for IPO fundraising after a more subdued start to 2026. Large offerings from National Stock Exchange of India Ltd (NSE), SBI Funds Management Ltd and Manipal Health Enterprises Ltd helped drive the rebound, together raising more than $4.3 billion (Rs 41,275 crore), according to Bloomberg.
The pace of issuance has continued even as the broader equity market has struggled with volatility and weaker investor sentiment. The benchmark NSE Nifty50 has fallen about 13 per cent this year, making India the second-worst-performing major equity market globally after Indonesia.
Bloomberg data show strong domestic liquidity and demand from institutional investors have helped companies tap the market, even as investors have become more selective on valuations.
With another strong quarter, 2026 fundraising could come close to the record hauls of the last two years, both above $20 billion (1.92 lakh crore). The year-end period is traditionally the strongest for India’s IPO market. Bigger offerings being prepared include Jio Platforms, Avaada Electro and Advanta Enterprises.
The backlog has given bankers visibility on issuance through the final quarter and potentially into early 2027, though deal timing will depend on market conditions, investor appetite and issuers’ willingness to meet increasingly price-sensitive buyers.
About 144 companies have already received regulatory approval to launch IPOs, including Oravel Stays, Torrent Gas and Sify Infinit Spaces, while another 73 have filed draft prospectuses and await approval. The pipeline also includes Carlsberg India and MakeMyTrip India, with bankers expecting some approvals in time for issuers to tap the market before the end of the year.
India’s initial public offering (IPO) market is heading towards a third straight blockbuster year, with a heavy pipeline set to build on strong momentum in the July-September quarter. Bloomberg data show listing proceeds crossed $9 billion (Rs 86,500 crore) in the quarter, the highest ever for the period, taking total fundraising so far in 2026 to more than $13 billion (Rs 1.24 lakh crore).
The latest quarter has put India on track for one of its best years on record for IPO fundraising after a more subdued start to 2026. Large offerings from National Stock Exchange of India Ltd (NSE), SBI Funds Management Ltd and Manipal Health Enterprises Ltd helped drive the rebound, together raising more than $4.3 billion (Rs 41,275 crore), according to Bloomberg.
The pace of issuance has continued even as the broader equity market has struggled with volatility and weaker investor sentiment. The benchmark NSE Nifty50 has fallen about 13 per cent this year, making India the second-worst-performing major equity market globally after Indonesia.
Bloomberg data show strong domestic liquidity and demand from institutional investors have helped companies tap the market, even as investors have become more selective on valuations.
With another strong quarter, 2026 fundraising could come close to the record hauls of the last two years, both above $20 billion (1.92 lakh crore). The year-end period is traditionally the strongest for India’s IPO market. Bigger offerings being prepared include Jio Platforms, Avaada Electro and Advanta Enterprises.
The backlog has given bankers visibility on issuance through the final quarter and potentially into early 2027, though deal timing will depend on market conditions, investor appetite and issuers’ willingness to meet increasingly price-sensitive buyers.
About 144 companies have already received regulatory approval to launch IPOs, including Oravel Stays, Torrent Gas and Sify Infinit Spaces, while another 73 have filed draft prospectuses and await approval. The pipeline also includes Carlsberg India and MakeMyTrip India, with bankers expecting some approvals in time for issuers to tap the market before the end of the year.