India’s IPO street is gearing up for one of the most bustling years ahead as 2026 is expected to see a wave of big-ticket listings. These initial public offerings will range from telecom and fintech to consumer internet and financial services. Regulatory data cited by ET shows that 84 companies have already received clearance from Sebi to tap the primary market, collectively seeking to raise about Rs 1.14 lakh crore. A further 108 companies are still awaiting approvals and together plan to raise nearly Rs 1.46 lakh crore, taking the potential fund mobilisation to over Rs 2.5 lakh crore from more than 190 issuers.Here are the most watched IPOs to look out for in 2026:
Reliance Jio
At the centre of market attention is Reliance Jio. The telecom and digital business of Reliance Industries is widely expected to make its public market debut in 2026, with estimates placing its valuation between Rs 11 lakh crore and Rs 12 lakh crore. If launched, the offering would be the largest IPO ever in India and is expected to have a significant impact on market liquidity and investor positioning.
National Stock Exchange
Another closely tracked candidate is the National Stock Exchange of India or the NSE. The exchange has stepped closer to listing after setting aside around Rs 1,300 crore to resolve pending issues with the regulator. Market participants are now watching for a no-objection certificate from Sebi, which could unlock one of the most anticipated IPOs in the country’s capital market history.
Flipkart
India’s consumer internet and technology space is also likely to contribute several large offerings. Flipkart is preparing for a listing in 2026 and is said to be eyeing a valuation of $60 billion to $70 billion. The Walmart-backed e-commerce platform, with a strong domestic footprint, is expected to be among the biggest tech IPOs to come out of India.
PhonePe
In the fintech space, PhonePe has already taken a step forward by filing confidential draft papers with Sebi. The company is planning a $1.5 billion IPO at an estimated valuation of $15 billion, marking a key moment for the digital payments segment as it tests investor appetite in public markets.
OYO
Hospitality firm OYO is also back on the IPO track. The SoftBank-backed company has begun groundwork for an issue that could raise up to $800 million. The move comes as OYO focuses on business stability and profitability, following delays to earlier listing plans caused by market volatility.
SBI Mutual Fund
SBI Funds Management, backed by State Bank of India and Amundi, is considering raising as much as $1.2 billion through an IPO in the first half of 2026, according to Bloomberg. As the country’s largest asset manager by assets, the listing would give investors a play on the expanding mutual fund industry.
Hero Fincorp
Hero Fincorp is also planning to tap the market with an IPO of Rs 3,668.13 crore. The issue will comprise a fresh issue of Rs 2,100 crore along with an offer for sale by existing shareholders, with investor focus likely to be on the company’s performance amid caution around unsecured lending.
Navi Technologies
Navi Technologies is targeting a public listing in the second half of FY26. Founded by Sachin Bansal, the company has been scaling its businesses across personal loans, home loans and insurance, and is expected to draw attention as one of the few large fintech players of its kind to approach the market.
Zepto
Quick-commerce firm Zepto is also gearing up for the public markets and is preparing to refile its draft offer documents. The company aims to raise between $450 million and $500 million, or about Rs 4,000 crore to Rs 4,440 crore, through a mix of fresh equity and investor exits as competition in the segment intensifies, ET reported.
Boat
Consumer electronics brand boAt is also lining up a listing. The company has appointed ICICI Securities, Goldman Sachs and Nomura as its bankers and is targeting a fundraise of $300 million to $500 million at a valuation exceeding $1.5 billion, with final details expected to be firmed up closer to the filing.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
