India IPO Fundraising Hits Record Rs 1.8 Lakh Crore in FY26

India’s IPO market hits a record Rs 1.8 lakh crore in FY26, led by strong mainboard listings, while SME IPO activity declines, says National Stock Exchange report.

Mumbai: India’s IPO Market Sets New Record in FY26

India’s primary market achieved a historic milestone in FY26, with companies raising Rs 1.8 lakh crore (USD 20 billion) through Initial Public Offerings (IPOs), according to a report by the National Stock Exchange (NSE).

A total of 219 companies were listed during the fiscal year, marking the highest-ever annual fund mobilisation in India’s IPO market.

Mainboard IPOs Drive Growth

The report highlighted that the mainboard segment dominated IPO activity, delivering record-breaking numbers:

108 mainboard IPOs
Funds raised: Rs 1.7 lakh crore (highest ever)

This surge reflects strong investor confidence and growing participation in large-cap public offerings.

SME IPO Segment Sees Slowdown

In contrast, the SME segment experienced moderation:

111 SME IPOs listed on the NSE Emerge platform
Total funds raised: Rs 5,363 crore
Issuances declined by 32%
Fundraising dropped by 25% year-on-year

Despite the slowdown, SME listings continued to contribute to market diversity.

Massive Boost to Market Capitalisation

The newly listed companies added a significant Rs 12.5 lakh crore to India’s total market capitalisation by the end of FY26, underlining:

Strong investor demand
Expanding capital markets
Increased economic activity

Growth in Additional Equity Fundraising

Beyond IPOs, companies also raised funds through additional equity issuances:

Total fundraising: Rs 2.4 lakh crore
Growth: 6% year-on-year

Breakdown of funding methods:

Preferential allotments: 54% share
Qualified Institutional Placements (QIPs): 28%
Rights issues: 18%

Key Trends:

Preferential allotments surged 105% YoY to Rs 1.3 lakh crore
Rights issues jumped 172% YoY to Rs 42,700 crore
QIP fundraising declined 47% YoY to Rs 67,600 crore

March 2026 IPO Activity Hits 6-Year High

Despite global uncertainties, including geopolitical tensions, the IPO market remained resilient.

9 mainboard IPOs raised Rs 8,056 crore
6 SME IPOs raised Rs 242 crore
Total March fundraising: Rs 8,297 crore

This marks the highest IPO activity recorded for March in the last six years.

India’s IPO market has demonstrated remarkable resilience and growth in FY26, setting new records in fundraising and listings. While the SME segment slowed, strong performance in mainboard IPOs and continued investor interest highlight the robustness of India’s capital markets.