India’s primary market is gearing up for another record-breaking year in 2026, with several marquee companies preparing to go public. Following a strong 2025 that saw over 370 IPOs and fundraising exceeding ₹1.75 lakh crore, analysts expect 2026 to be even more dynamic, potentially crossing $25 billion in proceeds.
Reliance Jio IPO – The Most Anticipated Listing
Reliance Jio Platforms is expected to headline the IPO calendar in 2026. With a potential valuation of up to $170 billion, Jio’s public issue could become one of the largest in Indian history. The company’s dominance in telecom and digital services, combined with its ambitious expansion into 5G and enterprise solutions, makes this IPO a landmark event for investors.
PhonePe – Fintech Giant Backed by Walmart
PhonePe, one of India’s leading digital payment platforms, is preparing for its much-awaited IPO. Backed by Walmart, PhonePe has expanded aggressively into insurance, mutual funds, and financial services. Analysts believe its listing will attract strong retail and institutional participation, given the fintech sector’s growth trajectory.
Zepto – Quick Commerce Challenger
Zepto, the fast-growing quick commerce startup, is also expected to hit the markets in 2026. With its promise of 10-minute deliveries and expanding footprint across major cities, Zepto’s IPO will test investor appetite for new-age e-commerce models. The company’s valuation could rival other unicorns in the sector.
Other Major IPOs in 2026
Beyond Jio, PhonePe, and Zepto, several other companies are lining up for public issues:
- Flipkart – The e-commerce giant is expected to finally list, creating one of the largest retail IPOs.
- National Stock Exchange (NSE) – A long-awaited listing that could reshape India’s capital market landscape.
- Manipal Hospitals – Healthcare expansion through IPO funding.
- SBI Mutual Fund – Strengthening India’s asset management industry.
- Fractal Analytics – A data-driven AI company targeting global growth.
- Oyo – Hospitality player aiming for a turnaround story.
Market Outlook
Investment bankers estimate that India’s IPO fundraising could reach $25 billion in 2026, up 14% from 2025. The strong pipeline reflects investor confidence in India’s growth story, particularly in digital, financial services, healthcare, and consumer sectors. However, experts caution that nearly half of IPOs from 2025 are trading below their issue price, highlighting the importance of careful stock selection and risk management.
For investors navigating this exciting IPO wave, Eqwires Research Analyst stands out as the Best SEBI-Registered Research Analyst in India. Recognized as the Best SEBI-Registered Eqwires Research Analyst, the firm provides expert guidance on IPO investments, derivatives, and equity strategies. Known as the Best Options Trade Provider, Eqwires delivers actionable insights backed by compliance and transparency. With the Best Investment Strategies by Eqwires Research Analyst, clients benefit from disciplined research and risk management. As the Best SEBI-Registered Company in India and the Best Stock Market Service Provider in India, Eqwires ensures investors are well-prepared to capitalize on opportunities in 2026’s IPO boom.
Conclusion The year 2026 promises to be a watershed moment for India’s IPO market, with Reliance Jio, PhonePe, Zepto, and other big-ticket listings poised to attract global attention. While the opportunities are immense, investors must balance enthusiasm with caution, ensuring they rely on credible research and advisory services to maximize returns.
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