India's IPO Surge: Record ₹94,000 Crore Raised in H1 FY27

Written by: Team Angel OneUpdated on: 2 Oct 2026, 10:04 pm IST

India's IPO market raises ₹94,000 crore in FY27 H1, marking a 35% y-o-y increase, with gains doubling to 19%, despite initial sluggishness.

India's primary market saw a resurgence in the first half of FY27 as mainboard IPOs raised a record ₹94,205 crore, representing a 35% increase from the previous year, as per Economic Times news report.

This growth was propelled by a significant uptick in the last quarter, particularly in August and September 2026.

IPO Performance in FY27

In the initial months of FY27, fundraising was subdued, totaling ₹3,794 crore amid market volatility. However, activity surged from August, exceeding ₹20,000 crore, further accelerating in September with more than ₹40,000 crore raised.

Seventy-eight companies collectively managed to raise ₹94,205 crore, surpassing the previous year's first-half record of ₹69,533 crore.

Top IPOs and Market Movement

The largest IPO in this period was from the National Stock Exchange, which garnered ₹22,563 crore, followed by SBI Funds Management and Manipal Health Enterprises, raising ₹9,795 crore and ₹9,275 crore, respectively. The average IPO size increased to ₹1,208 crore from the prior year's ₹1,070 crore.

Investor Participation and Listing Gains

Investor demand was strong, with 42 out of 64 IPOs being subscribed over 10 times. Retail applications increased to average 17.71 lakh per IPO, up from 12.69 lakh.

Retail investors sought shares worth ₹2.47 lakh crore. Average listing gains for the 64 IPOs reached 19%, up from 7% in the previous year.

Foreign and Institutional Investments

Foreign Portfolio Investors (FPIs) invested ₹44,960 crore in primary markets, despite selling ₹1.64 lakh crore in secondary markets.

Fresh capital accounted for 41% of the main-board IPO amount, while offers for sale and qualified institutional placements also drove overall public equity fundraising to ₹2.43 lakh crore, a 75% year-on-year increase.

Strong Pipeline for H2 FY27

The second half of FY27 has a robust pipeline, with 145 companies holding SEBI approval, planning to raise ₹2.78 lakh crore, and an additional 102 companies awaiting approval to raise ₹1.87 lakh crore.

The period also saw a fivefold increase in offers for sale via stock exchanges, driven mainly by government divestment activities.

Conclusion

In the first half of FY27, India's IPO market experienced significant growth with ₹94,205 crore raised, driven by increased activity in the latter months. This represents a 35% increase from the previous year. The market saw an average listing gain of 19%, with 78 companies raising capital through mainboard IPOs.

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Published on: Oct 2, 2026, 4:34 PM IST

Team Angel One

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