New Delhi, August 10, 2026 (Yes Punjab News)
India’s initial public offering (IPO) market remained among the most active globally in FY26, with 366 IPOs across the mainboard and SME platforms raising around Rs 1.9 lakh crore, according to a report released on Monday.
The report by Grant Thornton Bharat said fundraising remained strong, although investors became increasingly selective and focused more closely on governance standards, earnings visibility, valuations and post-listing performance.
Mainboard activity reached a record level, with 109 IPOs raising nearly Rs 1.77 lakh crore during the financial year.
However, the strong fundraising was accompanied by a moderation in listing gains and subscription levels compared with FY25, signalling a more valuation-conscious market. According to the report, pricing discipline, earnings quality and institutional participation increasingly influenced the success of public offerings.
“In today’s IPO market, success is no longer defined by the ability to list, but by the readiness to operate as a public company with the governance, discipline and credibility to sustain investor confidence well beyond the listing day,” said Karan Marwah, Partner and CFO Advisory Leader at Grant Thornton Bharat.
The report noted that India’s capital markets demonstrated resilience despite geopolitical uncertainty and inflationary pressures, supported by robust participation from domestic investors.
At the same time, investor risk appetite became more measured, with market sentiment increasingly affected by global developments, commodity prices and currency movements.
Recent regulatory measures have also sought to strengthen transparency, improve accessibility and enhance investor protection across the IPO ecosystem, the report said.
Looking ahead, the IPO pipeline remains healthy, supported by strong domestic participation, structural growth drivers and an expanding investor base.
The report said companies combining sound fundamentals with strong IPO preparedness are likely to be better positioned to access public markets and maintain investor confidence beyond their listing.
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