India’s IPO market had a record-breaking year in 2025, and the momentum is expected to continue in 2026. Several large and well-known companies are preparing to enter the stock market next year, making 2026 an exciting period for investors.
In 2025, India saw a total of 371 IPOs across mainboard and SME platforms. Companies together raised more than ₹1.75 lakh crore, the highest ever in a single year. Big names such as Tata Capital, HDB Financial Services, LG Electronics India, ICICI Prudential AMC, and Hexaware Technologies led the market. Technology startups also made a strong comeback, with 18 tech firms raising over ₹41,000 crore.
Looking ahead, some of the most awaited IPOs are lined up for 2026. At the top of the list is Reliance Jio Platforms. The digital and telecom arm of Reliance Industries is preparing its draft prospectus, with the IPO expected in the first half of 2026. Reliance Industries Chairman Mukesh Ambani has confirmed the timeline. Reports suggest Jio’s valuation could reach up to $170 billion, making it one of India’s largest-ever IPOs.
Another major listing expected in 2026 is Flipkart. The Walmart-owned e-commerce company is planning a domestic IPO after receiving approval to move its legal base from Singapore to India. The company is estimated to be valued between $60 billion and $70 billion.
PhonePe, one of India’s largest digital payments platforms, has already filed its draft IPO papers confidentially with SEBI. The fintech firm may raise around $1.5 billion, mostly through an offer for sale. Its valuation is expected to be close to $15 billion.
Quick-commerce startup Zepto is also preparing to file draft papers through the confidential route. The company is expected to raise between $500 million and $800 million and is currently valued at around $7 billion.
Other notable IPOs expected in 2026 include Bharat Coking Coal Limited, NSE, SBI Mutual Fund, OYO, boAt, Hero FinCorp, and Fractal Analytics. These listings cover sectors such as energy, finance, technology, consumer goods, and hospitality.
Overall, 2026 is shaping up to be a strong year for the Indian IPO market. With big brands and fast-growing companies planning listings, investors can expect a wide range of opportunities across different industries.
