India's primary market is expected to remain one of the busiest in 2026, with several high-profile companies preparing to launch their Initial Public Offerings (IPOs). A number of well-known businesses from sectors such as telecommunications, financial services, fintech, quick commerce, mutual funds, dairy, and manufacturing are reportedly planning to enter the stock market. If these IPOs materialize, they could collectively raise tens of thousands of crores and attract significant interest from retail as well as institutional investors.
Leading the list is Jio, which is expected to launch one of India's biggest-ever IPOs with an estimated issue size of ₹45,000 crore. The telecom giant's public offering is likely to be closely watched due to its dominant market position, extensive digital ecosystem, and strong subscriber base. Market experts believe a successful listing could become one of the landmark events in India's capital markets.
Another major IPO expected in 2026 is the National Stock Exchange (NSE), with an estimated issue size of ₹30,000 crore. Investors have been eagerly waiting for the exchange's public listing for years. If regulatory approvals are completed, the IPO is expected to receive strong participation given NSE's leadership in India's equity and derivatives markets.
The fintech sector is also expected to remain active. Razorpay is reportedly preparing for an IPO worth around ₹9,500 crore, while quick-commerce platform Zepto could raise approximately ₹8,500 crore. These offerings would reflect growing investor confidence in India's expanding digital economy and technology-driven businesses.
Digital payments company PhonePe is another prominent name on the expected IPO list, with reports suggesting an issue size of nearly ₹11,000 crore. The company has emerged as one of India's leading UPI-based payment platforms and continues to expand into financial services, insurance, and lending.
The financial services segment could also witness significant activity. SBI Mutual Fund is expected to launch an IPO worth around ₹11,000 crore, while Hero FinCorp may raise approximately ₹3,800 crore through its public issue. These companies represent India's rapidly growing investment and lending ecosystem.
The manufacturing and consumer sectors are also likely to contribute to the IPO pipeline. Hero is expected to launch an IPO of around ₹1,500 crore, while dairy brand Milky Mist could enter the public market with an estimated issue size of ₹2,000 crore.
While these IPOs have generated considerable excitement among investors, it is important to note that the expected issue sizes and listing timelines remain subject to regulatory approvals, market conditions, and company decisions. IPO plans may be revised, postponed, or modified before the final offer documents are filed.
For investors, 2026 could present several opportunities to participate in the growth stories of some of India's most recognizable companies. However, experts recommend carefully reading the Draft Red Herring Prospectus (DRHP), evaluating company fundamentals, financial performance, valuation, and business risks before making any investment decision. As always, informed investing remains the key to long-term wealth creation.
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