India’s primary market is gearing up for an eventful 2026, with a packed pipeline of large and marquee companies planning to debut on the D-Street. Data
from the regulator shows that around 84 firms have already secured approval from the Securities and Exchange Board of India (SEBI) to collectively raise about Rs 1.14 lakh crore via initial public offerings (IPO). In addition, nearly 108 more companies are waiting in the wings, seeking clearance to mobilise roughly Rs 1.46 lakh crore. Together, this puts more than 190 companies either approved or awaiting nods, signalling a potential fundraising pipeline exceeding Rs 2.5 lakh crore next year, according to a report from The Economic Times. From telecom and fintech to consumer internet and financial services, the upcoming IPO calendar reflects the breadth of India’s corporate growth story. Here are some of the most closely tracked IPOs expected to shape market conversations in 2026. Reliance Jio And NSE: The Heavyweights In Focus At the top of investor watchlists is Reliance Jio. The digital and telecom arm of Reliance Industries is widely expected to pursue a public listing at a valuation estimated between Rs 11 lakh crore and Rs 12 lakh crore. If launched, it would rank as India’s biggest IPO, with the size of the issue likely to influence liquidity and sentiment across markets for an extended period. Another long-pending listing that may finally move ahead is that of the National Stock Exchange. After earmarking around Rs 1,300 crore to resolve outstanding matters with SEBI, expectations are building that the exchange could soon receive regulatory clearance, unlocking one of the most anticipated listings in India’s capital market history. Consumer Internet And Fintech Take Centre Stage India’s new-age companies are set to remain in the spotlight. Flipkart is reportedly targeting a 2026 listing at a valuation of $60–70 billion, which could make it among the largest technology IPOs from the country. Payments major PhonePe has already filed confidential papers for a $1.5 billion issue, valuing the firm at about $15 billion, underlining continued investor interest in scaled fintech platforms. Hospitality firm OYO has also revived its IPO plans, with reports suggesting a potential raise of up to $800 million. The company is working on improving business stability and profitability after earlier delays. Financial Services, Lending And New-Age Bets Traditional finance will also feature strongly. SBI Funds Management is considering an IPO of up to $1.2 billion in early 2026, offering investors exposure to India’s rapidly expanding mutual fund industry. In the lending segment, Hero Fincorp plans to raise Rs 3,668.13 crore through a mix of fresh issue and offer for sale, a move that will be closely tracked amid concerns around unsecured credit. Founder-led fintech Navi Technologies, quick-commerce player Zepto, and consumer electronics brand boAt round out the list, each preparing sizeable issues that reflect the diversity and depth of India’s evolving IPO landscape.
