India’s IPO calendar for 2026 is shaping up to be among the busiest in recent years, with a strong lineup of new-age technology firms, consumer-facing brands, and established unicorns preparing to tap the capital markets.
From quick commerce and fintech to hospitality, AI, and logistics, several high-profile listings are expected to define the year. Below is a look at some of the most closely tracked IPOs slated for 2026.
Quick commerce platform Zepto Ltd has confidentially filed draft IPO papers with SEBI, signalling a potential listing between July and September 2026. Founded by Aadit Palicha and Kaivalya Vohra, Zepto was last valued at $7 billion following a $450 million funding round led by CalPERS in October 2025.
The company reported a sharp surge in FY25 revenue to ₹11,109 crore, although losses widened to ₹3,367 crore. User growth has remained robust, with Zepto adding around 1.2 million weekly active users in mid-December, outpacing several competitors in the quick commerce segment.
PRISM, the parent company of hospitality platform OYO, has confidentially filed IPO papers after receiving shareholder approval to raise up to ₹6,650 crore. Since withdrawing its IPO plans in 2021, PRISM has expanded its global footprint, strengthened its premium hotel portfolio, and completed the acquisition of US-based G6 Hospitality.
The company turned profitable in Q1 FY26 and recently received a stable outlook from Moody’s, which expects EBITDA to more than double in the current fiscal year.
Digital payments major PhonePe has submitted draft IPO papers via the confidential route, with existing investors expected to offload up to a 10% stake. The ₹12,000-crore issue is likely to be entirely an offer-for-sale, led by majority shareholder Walmart, along with Tiger Global and Microsoft.
PhonePe reported FY25 operating revenue of ₹7,114.8 crore, marking over 40% year-on-year growth, while losses narrowed to ₹1,727 crore. Payments continue to drive revenues, even as the company expands into credit, insurance, and broking.
Walmart-owned Flipkart has moved closer to a potential India listing after the National Company Law Tribunal approved its plan to shift its holding structure from Singapore to India. The reverse flip aligns the company’s legal domicile with its predominantly India-focused operations and simplifies its corporate structure ahead of an IPO.
Under the approved scheme, several group entities, including Myntra and Flipkart Marketplace will be merged into Flipkart Internet Private Limited in phases, clearing a major regulatory hurdle for filing IPO papers.
Wearables and audio brand boAt is preparing for its second IPO attempt, even as its latest draft prospectus highlights audit observations related to past financial disclosures and internal controls. Auditors flagged issues including discrepancies in lender submissions, diversion of short-term borrowings, and compliance gaps at overseas subsidiaries.
The proposed ₹1,500-crore IPO includes a ₹500-crore fresh issue and a ₹1,000-crore offer-for-sale by existing shareholders, including founders Aman Gupta and Sameer Mehta.
AI and data analytics firm Fractal Analytics has received SEBI approval for its IPO, potentially making it one of the first AI-centric companies to list on Indian exchanges. The Mumbai-based firm reported FY25 revenue of ₹2,765 crore and a net profit of ₹220.6 crore after returning to profitability.
The IPO will consist of a ₹1,279-crore fresh issue and an offer-for-sale of up to ₹3,621 crore, primarily providing exits to private equity investors. Proceeds will be used for debt reduction, research and development, and global expansion, with a strong emphasis on generative AI.
Several other new-age companies are also advancing IPO preparations. Accel-backed Curefoods has filed draft papers for an ₹800-crore fresh issue along with an offer-for-sale, with proceeds largely earmarked for expanding its Krispy Kreme franchise and omni-channel food formats.
Furniture and appliance rental platform Rentomojo is in early-stage IPO discussions after posting its third consecutive year of profitability in FY25. Fitness platform Cult.fit, backed by Zomato, Accel, and Tata Digital, has appointed bankers for a proposed ₹2,500-crore IPO that could value the company at nearly $2 billion.
Also Read: Upcoming IPO: SEBI-Approved 8 Companies to Float IPO, Including Indira IVF
Logistics firm Shadowfax has meanwhile filed updated draft papers for a ₹2,000-crore IPO as it looks to scale its rapidly expanding nationwide delivery network.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/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: Jan 5, 2026, 9:07 AM IST
Sachin Gupta
Sachin Gupta is a Content Writer with 6+ years of experience in the stock market, including global markets like the US, Canada, and Australia. At Angel One, Sachin specialises in creating financial content that simplifies complex market trends. Sachin holds a Master's in Commerce, specialising in Economics.
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