India is on track to post one of its strongest IPO years ever as markets anticipate a wave of major public offerings in 2026. At the forefront is the planned float of Reliance Jio Infocomm, expected to raise up to USD 4 billion for a small stake, potentially making it the largest IPO in Indian capital market history. Analysts are also eyeing other billion-dollar plus listings such as National Stock Exchange, PhonePe and Zepto.
Despite some market headwinds like higher valuations and weaker equities performance versus other emerging markets, strong retail participation and local fund interest support the primary market outlook for 2026.
