{"id":10107,"date":"2026-01-29T08:11:36","date_gmt":"2026-01-29T08:11:36","guid":{"rendered":"https:\/\/lemonn.co.in\/blog\/?p=10107"},"modified":"2026-01-29T08:11:39","modified_gmt":"2026-01-29T08:11:39","slug":"upcoming-indian-ipos-2026","status":"publish","type":"post","link":"https:\/\/lemonn.co.in\/blog\/ipo\/upcoming-indian-ipos-2026\/","title":{"rendered":"Upcoming Indian IPOs to Watch in 2026: Big Tech, Fintech, and Market Giants"},"content":{"rendered":"
\"Upcoming<\/figure>\n\n\n

India\u2019s IPO market is heading into one of its biggest years ever. In 2026, companies could raise over \u20b94 lakh crore<\/strong> through public listings – the highest in Indian market history. From tech titans like Reliance Jio<\/strong> to long-awaited debuts like the National Stock Exchange (NSE)<\/strong> and Flipkart<\/strong>, this is a year that investors can\u2019t afford to ignore.<\/p>\n\n\n\n

Here\u2019s a clear, beginner-friendly guide to the most anticipated IPOs in 2026<\/strong>, why they matter, and what smart investors should watch for.<\/p>\n\n\n\n

Top 5 Upcoming IPOs in India (2026)<\/h2>\n\n\n\n

1. Reliance Jio Platforms<\/strong><\/h3>\n\n\n\n

Estimated Issue Size<\/strong>: \u20b933,000 \u2013 \u20b937,000 Cr
Expected Timeline<\/strong>: H1 2026 (January to June)
Sector<\/strong>: Telecom + Digital Services<\/p>\n\n\n\n

Jio is India\u2019s largest mobile network, but its IPO is about more than just telecom. Jio is expanding into AI, cloud computing, and enterprise services<\/strong> – and its IPO is expected to raise over $4 billion, the biggest in Indian history<\/strong>.<\/p>\n\n\n\n

Why it matters<\/strong>:<\/p>\n\n\n\n

    \n
  • 500+ million subscribers<\/li>\n\n\n\n
  • Strategic partnerships with Nvidia and global investors<\/li>\n\n\n\n
  • High-growth segments: 5G, AI, cloud, fintech<\/li>\n<\/ul>\n\n\n\n

    2. PhonePe<\/strong><\/h3>\n\n\n\n

    Estimated Issue Size<\/strong>: \u20b912,000 Cr
    Structure<\/strong>: 100% Offer for Sale
    Sector<\/strong>: Fintech & Payments<\/p>\n\n\n\n

    PhonePe leads India\u2019s UPI payments space with 10 billion monthly transactions and a 45% market share. Backed by Walmart, the company is now expanding into lending, insurance, and wealth tech.<\/p>\n\n\n\n

    Why it matters<\/strong>:<\/p>\n\n\n\n

      \n
    • FY25 revenue: \u20b97,115 Cr (up 40.5% YoY)<\/li>\n\n\n\n
    • Free cash flow positive<\/li>\n\n\n\n
    • Strong push into digital finance beyond payments<\/li>\n<\/ul>\n\n\n\n

      3. National Stock Exchange (NSE)<\/strong><\/h3>\n\n\n\n

      Estimated Issue Size<\/strong>: \u20b910,000 \u2013 \u20b915,000 Cr
      Expected Timeline<\/strong>: H2 2026 (July to December)
      Sector<\/strong>: Financial Infrastructure<\/p>\n\n\n\n

      After years of regulatory delays, India\u2019s largest stock exchange is going public. NSE is the dominant player<\/strong> in equity derivatives and stock trading.<\/p>\n\n\n\n

      Why it matters<\/strong>:<\/p>\n\n\n\n

        \n
      • FY25 net profit: \u20b912,188 Cr (47% YoY growth)<\/li>\n\n\n\n
      • Grey market valuation: \u20b94.7 lakh Cr<\/li>\n\n\n\n
      • Huge investor interest, especially from institutions<\/li>\n<\/ul>\n\n\n\n

        4. Flipkart<\/strong><\/h3>\n\n\n\n

        Estimated Valuation<\/strong>: $60 – $70 Billion
        Expected Timeline<\/strong>: 2026
        Sector<\/strong>: E-Commerce<\/p>\n\n\n\n

        Flipkart has moved its legal base to India (a “reverse flip”) to prep for its IPO. With growing competition from Zepto and Blinkit, the company is expanding into quick commerce<\/strong> while focusing on long-term growth.<\/p>\n\n\n\n

        Challenges<\/strong>:<\/p>\n\n\n\n

          \n
        • FY25 revenue: \u20b982,787 Cr<\/li>\n\n\n\n
        • Losses: \u20b95,189 Cr<\/li>\n\n\n\n
        • Huge spending to defend market share<\/li>\n<\/ul>\n\n\n\n

          5. Fractal Analytics<\/strong><\/h3>\n\n\n\n

          Estimated Issue Size<\/strong>: \u20b92,800 \u2013 \u20b94,900 Cr
          Expected Timeline<\/strong>: H1 2026 (January to June)
          Sector<\/strong>: Artificial Intelligence<\/p>\n\n\n\n

          Fractal is set to be India\u2019s first pure AI unicorn to go public<\/strong>, offering investors early access to generative AI tools, analytics services, and medical imaging solutions.<\/p>\n\n\n\n

          Quick Tip: What Does H1 and H2 Mean?<\/h2>\n\n\n\n

          New to investing? When companies say they\u2019ll go public in H1<\/strong> or H2<\/strong>, they mean:<\/p>\n\n\n\n

            \n
          • H1 2026<\/strong> = First half of 2026 (January to June)<\/li>\n\n\n\n
          • H2 2026<\/strong> = Second half of 2026 (July to December)<\/li>\n<\/ul>\n\n\n\n

            It\u2019s just a simple way to tell you roughly when the IPO is expected, even if the exact date isn\u2019t fixed yet.<\/p>\n\n\n\n

            Other Noteworthy IPOs to Track<\/h2>\n\n\n\n
            Company<\/th>Sector<\/th>Est. Issue Size<\/th>Highlights<\/th><\/tr><\/thead>
            Zepto<\/strong><\/td>Quick Commerce<\/td>\u20b94,000\u20134,440 Cr<\/td>Fast growth, 120% revenue jump in FY24<\/td><\/tr>
            Sify Infinit Spaces<\/strong><\/td>Data Centers<\/td>\u20b93,700 Cr<\/td>14 data centers across India, AI infra push<\/td><\/tr>
            SBI Mutual Fund<\/strong><\/td>Asset Management<\/td>\u20b910,000 Cr (est.)<\/td>Part of India\u2019s growing retail investing wave<\/td><\/tr>
            IDBI Bank<\/strong><\/td>Banking<\/td>\u20b921,000+ Cr<\/td>Strategic govt divestment in progress<\/td><\/tr>
            boAt (Deferred)<\/strong><\/td>Consumer Tech<\/td>\u20b92,000 Cr<\/td>IPO delayed due to financial governance concerns<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

            1. Mega IPOs, Small Share Dilutions<\/h3>\n\n\n\n

            SEBI has allowed large companies like Jio to list with just 2.5% stake<\/strong> initially. This reduces market pressure and helps maintain liquidity.<\/p>\n\n\n\n

            2. Focus on Governance<\/h3>\n\n\n\n

            boAt\u2019s IPO delay shows that investors now demand clean books and strong internal controls<\/strong> \u2014 not just big valuations.<\/p>\n\n\n\n

            3. Rise of Tech Infrastructure<\/h3>\n\n\n\n

            Listings like Fractal (AI) and Sify Infinit (Data Centers) reflect India\u2019s pivot to deep tech and cloud infrastructure<\/strong>.<\/p>\n\n\n\n

            4. Government Disinvestments<\/h3>\n\n\n\n

            The government is pushing strategic sales in LIC, IRFC, and more to meet SEBI\u2019s 25% public shareholding rule.<\/p>\n\n\n\n

            Should You Invest in 2026 IPOs?<\/h2>\n\n\n\n

            Before you jump in, ask yourself:<\/p>\n\n\n\n

              \n
            • Is the company making profits (or close)?<\/li>\n\n\n\n
            • Is it growing in a strong, future-ready sector?<\/li>\n\n\n\n
            • Are the finances and governance transparent?<\/li>\n\n\n\n
            • Does it have real long-term potential?<\/li>\n<\/ul>\n\n\n\n

              IPO investing can be exciting, but not every listing is a winner. Focus on fundamentals – not hype.<\/p>\n\n\n\n

              Key Takeaways<\/h2>\n\n\n\n
                \n
              • 2026 could be the biggest IPO year in India\u2019s history<\/li>\n\n\n\n
              • Watch for Jio, NSE, PhonePe, Flipkart, and Fractal<\/li>\n\n\n\n
              • SEBI rules are changing how mega-IPOs work<\/li>\n\n\n\n
              • Tech, fintech, and market infrastructure are the top sectors<\/li>\n\n\n\n
              • Good governance matters more than ever<\/li>\n<\/ul>\n\n\n\n

                FAQs: 2026 Indian IPOs<\/h2>\n\n\n
                \n
                \n
                \n

                Q: What\u2019s the biggest IPO in 2026?<\/strong><\/h3>\n
                \n\n

                A: Reliance Jio<\/strong>, expected to raise \u20b933,000\u2013\u20b937,000 Cr – the largest ever in India.<\/p>\n\n<\/div>\n<\/div>\n

                \n

                Q: What does H1 or H2 2026 mean?<\/strong><\/h3>\n
                \n\n

                H1 = January to June; H2 = July to December. These are rough IPO timing windows.<\/p>\n\n<\/div>\n<\/div>\n

                \n

                Q: Why did boAt delay its IPO?<\/strong><\/h3>\n
                \n\n

                Due to issues with financial reporting flagged by auditors.<\/p>\n\n<\/div>\n<\/div>\n

                \n

                Q: Is Flipkart definitely listing in 2026?<\/strong><\/h3>\n
                \n\n

                Yes, the company has completed all major restructuring and is preparing to go public.<\/p>\n\n<\/div>\n<\/div>\n

                \n

                Q: Can small investors apply for these IPOs?<\/strong><\/h3>\n
                \n\n

                Yes! In fact, large IPOs now reserve at least 35% of shares for retail investors<\/strong>.<\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"

                India\u2019s IPO market is heading into one of its biggest years ever. In 2026, companies could raise over \u20b94 lakh crore through public listings – the highest in Indian market history. From tech titans like Reliance Jio to long-awaited debuts like the National Stock Exchange (NSE) and Flipkart, this is a year that investors can\u2019t […]<\/p>\n","protected":false},"author":3,"featured_media":10108,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[24],"tags":[],"class_list":["post-10107","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/10107","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/comments?post=10107"}],"version-history":[{"count":1,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/10107\/revisions"}],"predecessor-version":[{"id":10110,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/10107\/revisions\/10110"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/media\/10108"}],"wp:attachment":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/media?parent=10107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/categories?post=10107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/tags?post=10107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}