New Delhi, August 10: In a remarkable financial year, 366 companies in India have raised a staggering ₹1.9 trillion through Initial Public Offerings (IPOs) for Fiscal Year 26. This figure includes IPOs from both the main board and the SME platform, according to a report released on Monday.
The report by Grant Thornton India highlights that the listing of main board IPOs reached an all-time high, with 109 companies raising ₹1.77 trillion during this period.
The previous fiscal year witnessed record fundraising activities alongside a decline in listing gains, indicating that the market is becoming more discerning and mature.
However, profits from listings and the level of oversubscription have decreased compared to the peak levels of Fiscal Year 25. This suggests that the market is now more cautious regarding valuations, where the success of an IPO largely depends on accurate pricing, quality of earnings, and institutional participation.
Karan Marwah, Partner and CFO Advisory Leader at Grant Thornton India, stated, “Success in today’s IPO market means more than just the ability to list; it requires readiness to operate as a public company, which includes governance, discipline, and reliability to maintain investor confidence even after the listing day.”
Despite geopolitical uncertainties and inflationary pressures, India’s capital markets have remained robust due to strong domestic participation.
However, investors are now making more calculated decisions regarding risk appetite, as market sentiment is increasingly influenced by global events, commodity prices, and currency fluctuations.
The report also notes that recent regulatory reforms have focused on enhancing transparency, accessibility, and investor protection within the IPO ecosystem.
While macroeconomic conditions and global events will continue to impact market activities, India’s IPO pipeline remains strong due to solid domestic participation, structural development, and a growing base of investors.
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