NSE, Jio Platforms, Flipkart: 3 big IPOs to watch in 2026

With IPOs worth up to Rs 2.50 lakh crore lined up for 2026, including 108 companies awaiting Sebi approval for issues totalling Rs 1.46 lakh crore, the coming year is shaping up to be another strong one for the primary market. All eyes are on big ticket IPOs of Jio Platforms, NSE and Flipkart.

Sunny Agrawal, DVP, Head of Fundamental Desk at SBI Securities says an increase in primary market papers do hurt the secondary market as fund flows get diverted, and, therefore, one needs to be very cautious.

In an interview with Business Today, Agrawal said his approach to investing, whether in the primary or secondary market, had consistently centred on reasonable valuations, strong businesses with the ability to deliver steady growth, capital protection, and superior risk-adjusted returns.

Data showed a total of 103 mainboard IPOs raised a total Rs 1.82 lakh crore in 2025 against nine IPOs raising Rs 1.59 lakh crore in 2024. 2021-2024 saw 40-63 IPOs every year, raising Rs 49,000 crore to Rs 1.18 lakh crore. 

Agrawal finds Jio Platforms among IPOs that may generate investor interest, citing a solid track record of delivering a profitable growth and calling it one of the largest companies in the Indian corporate that get listed.

"Obviously, the response will be phenomenal and the kind of growth which all such businesses are delivering, seeing that, all such issues will be lapped up," he said.

NSE is another potential IPO. Agrawal said while the stock exchange has seen some reduction in volumes because of the weaker market sentiment or change in regulations, ultimately, the capital market as a story is still young and over the period of next 4 to 5 years, there is a probability that volume will continue to inch up across multiple products.

"So, I think exchange, obviously, NSE being the largest stock exchange in India, I think that is something which is the most awaited IPO for all the institutions, as well as retail investors," he said.

Another IPO to watch going ahead will be that of Flipkart's. This is after the NCLT approved the merger of eight Flipkart entities, moving the e-commerce major a step closer to securing an Indian domicile ahead of a potential public listing, PTI reported on Wednesday.
As per a PTI report, the tribunal sanctioned a scheme of amalgamation under which eight Singapore-incorporated transferor companies would merge into Flipkart Internet Private Limited, the Bengaluru-based operating entity.

Flipkart would next require approval from a Singapore court, following which the proposal would be taken up with the Registrar of Companies for further clearances, PTI reported.