NSE IPO to headline September IPO rush; nearly 20 issues to hit D-St to raise upto Rs 45,000 crore

The IPO season is set to continue at Dalal street in September with nearly a score of IPOs set to be launched at the bourses. Last two months have been very busy for the primary markets, with nearly two dozen issues being launched in August alone, raising nearly Rs 22,500 crore, while July saw IPOs worth Rs 33,500 crore, taking the two month fundraise to Rs 56,000 crore.

According to the market sources, nearly 20 issues worth Rs 45,000 crore are eyeing to be launched in September 2026, including the much awaited issue of the National Stock Exchange (NSE), which shall become India's biggest ever IPO with a tentative issue size of Rs 30,000 crore. The leading exchange is set to get listed before 'Shradh period (Pitru Paksha), which begins on September 26.

It is encouraging that India has topped the world in the number of IPOs during FY 25-26 and ranked third globally in capital raised, said Trivesh D, COO, Tradejini citing SEBI’s Report. This reflects the depth and resilience of India’s primary market, even amid global geopolitical and economic uncertainties. "The rampant IPO activity augurs well for the sound fundamentals of the Indian economy."

NSE's listing would be significant because it would bring one of India’s most important pieces of financial market infrastructure into the listed space and give public-market investors an opportunity to participate in its growth, Trivesh said. A large IPO pipeline should not mean investors subscribe to every issue, he cautioned.

According to market participants, IPO market continues to remain healthy even as benchmark indices remain rangebound in the recent weeks led by the geopolitical concerns. According to market experts, the strong issuer confidence has been lifted by the buoyance driven by sustained healthy demand and solid gains from the IPOs recently.

The primary market has clearly regained momentum, with July and August accounting for nearly 70 per cent of IPO fundraise in the first eight months of 2026. What makes the outlook for September and the following months particularly constructive is the depth of the pipeline with 164 companies having SEBI approval, with nearly Rs 2.65 lakh crore of potential issues, said Kamraj Singh Negi, Managing Director and CEO at Pantomath Capital.

The pipeline should not be mistaken for assured fundraising; valuations, secondary-market stability and investor selectivity will determine which issues ultimately come to market. The key shift is that we are moving from a supply-constrained first half to a much more active primary-market environment, with capital formation becoming increasingly broad-based," he said.

With IPOs like Deepa Jewellers and Rays of Belief already being announced to open on September 1, 2026, other offers are likely to be announced in coming days. Both these issues are eyeing to raise a total of Rs 585 crore from their maiden stake sales. One should note that this report is counting IPOs based on the opening date only, while listing date is not considered.

Among other names, Prasol Chemicals, Asset Reconstruction Company (India) Limited (ARCIL), ⁠Manipal Payment and Identity Solutions, ⁠Veegaland Developers, ⁠Elevate Campuses, ⁠Virupaksha Organics and ⁠Rentomojo may also launch their IPOs in September raising another Rs 9,000-10,000 crore from their IPOs cumulatively.

The IPO mix stays diverse spanning across multiple sectors which should keep investor interest broad-based, said Sameer Suhas Sawant, Research Analyst at Mirae Asset Sharekhan. "With macro conditions stabilizing and listing-day performance holding up well, September should see steady issuance activity, reflecting sustained corporate confidence and setting up a strong run into the festive-season quarter."

Glass Wall Systems, Kanohar Electricals, Hero Motors, Manika Plastech, Parijat Industries and Pranav Construction, ⁠Learnfluence Education and ⁠Karamtara Engineering are other candidate eyeing their issues in the ninth month of 2026. They may cumulatively raise around Rs 4,500-5,000 crore from their IPOs.

Being a bit critical, Sunny Agrawal, Head of Fundamental Research at SBI Securities said that We could see a rush of IPO activity during the month as issuers look to complete their listing before the deadline, with September 30 being an important regulatory cut-off for companies with approved prospectuses.

"Alongside NSE, we could see 20–30 companies potentially coming to the market and getting listed in September. The key reason for this expected rush is that companies missing the September 30 deadline may have to refile their documents with updated financials and seek fresh SEBI approval," he added.