IPO Activity Likely to Pick Up in H2 2026; Companies Eye ₹60,000 Crore Fundraising

India's equity capital market activity is expected to accelerate in the second half of 2026, with companies likely to raise around ₹60,000 crore (about $6 billion) through initial public offerings (IPOs), institutional placements and government stake sales, according to a Bloomberg analysis. 

The expected pipeline could make the second half of the year significantly busier for equity issuances after a relatively subdued first 6 months of 2026. 

IPO Activity Expected to Gain Momentum in H2 2026 

The IPO market could see increased activity with several large public offerings in the pipeline. Quick commerce company Zepto has filed an updated draft prospectus for an IPO that could raise around $1 billion. 

Meanwhile, the National Stock Exchange (NSE) is also expected to move ahead with a public issue that could raise approximately $2.5 billion. Investors are also awaiting further developments on the proposed Reliance Jio IPO. 

So far in 2026, IPOs have raised around $3.5 billion, considerably lower than the more than $20 billion raised in each of the previous 2 years. 

Lock-In Expiries May Increase Share Supply 

Apart from fresh IPOs, the supply of shares in the market could rise as lock-in periods expire for more than 75 listed companies over the next 4 months. 

These expiries could potentially free up nearly $31 billion worth of shares. However, not all of these shares are expected to come into the market, as a substantial portion continues to be held by promoters and promoter groups. 

Read More: Zepto IPO: Company Files Updated DRHP, Plans ₹8,010 Crore Fresh Issue 

Domestic Participation May Support Issuances 

Despite the expected increase in equity offerings, investment bankers remain optimistic about investor demand, supported by participation from domestic institutional investors, foreign investors, and retail investors. 

Around 163 companies have already received approval from the Securities and Exchange Board of India (SEBI) to launch IPOs, while another 62 companies have filed draft prospectuses and are awaiting regulatory clearance. 

Top Performing IPOs in 2026 

Among the mainboard IPOs listed in 2026, Bharat Coking Coal delivered the highest listing day gain of 76.43%. As of June 10, 2026, at 1:47 PM, Bharat Coking Coal share price was trading at around ₹39 per share on the BSE. 

Meanwhile, OnEMI Technology Solutions IPO ranked second in terms of listing day performance, delivering a 22.01% listing premium, while GSP Crop Science IPO ranked third with a listing day gain of 11.33%, making them among the top-performing mainboard IPO debuts of 2026. 

Conclusion 

The second half of 2026 is expected to witness increased equity market activity, with companies planning to raise around ₹60,000 crore through IPOs and other capital market transactions. A strong pipeline of public issues and upcoming lock-in expiries is likely to keep the primary market active in the coming months. 

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