The upcoming IPO 2026 (second half) is expected to be in a huge wave. Companies and startups are filing their draft red herring prospectuses (DRHPs) with the market regulator SEBI at the exact same time.
This sudden rush comes after a quiet first half of the year. Only 26 mainboard IPOs successfully listed on the domestic exchanges during the first six months of 2026. 4 of those listings belonged to alternate investment categories like Real Estate Investment Trusts (REITs) or Infrastructure Investment Trusts (InvITs). The primary market is now recovering fast with six major companies lining up their issues in June 2026 alone.
Reasons for this Upcoming IPO 2026 Wave
- Lower Market Volatility: Global political tensions from the US-Iran war caused massive market drops earlier this year. The NIFTY50 index fell over 7.5% and the SENSEX dropped over 9% in 2026. Many newly listed firms gave poor or negative returns. However, the US and Iran reached a peace deal in June. Crude oil prices dropped from record highs and both indexes recovered by nearly 3%. This market bounce encourages firms to launch their listings.
- Massive Application Backlog: Many firms delayed their listings earlier due to bad market conditions. More than 200 companies are now preparing to enter the public market. As of June 19, a total of 173 companies hold SEBI approval to raise around 2.7 lakh crore rupees. Another 64 companies plan to raise 1.95 lakh crore rupees and are currently waiting for regulatory clearances.
- Value Unlocking Benefits: Entering the stock market helps large parent groups separate their core businesses and get independent valuations. This allows them to attract a fresh set of public investors to their individual subsidiaries.
Major Upcoming IPO 2026 List
Jio Platforms and the National Stock Exchange of India lead this trend with filings that total over $7 billion together.
The table below shows the current regulatory status of the top Upcoming IPO 2026:
| Company Name | Expected Issue Size (In Rupees) | Regulatory Status with SEBI |
|---|
| Jio Platforms | Rs 37,000 crore ($3.9 billion) | Official DRHP filed for approval |
| National Stock Exchange | Rs 30,000 crore ($3.1 billion) | Official DRHP filed for approval |
| SBI Mutual Fund | Rs 13,000 crore ($1.3 billion) | Received final SEBI approval |
| Zepto | Rs 8,010 crore | Updated DRHP filed for approval |
| Razorpay | $500 million to $600 million | Confidential draft papers filed |
| Flipkart | To be decided | Shifting legal domicile from Singapore to India |
| PhonePe | To be decided | Plans temporarily paused due to past volatility |
The quick commerce firm Zepto plans to raise its entire amount through a fresh issue of shares. The company expects to launch its public issue in July 2026. SBI Funds Management operates the popular SBI Mutual Fund and will launch its issue soon. Digital payments firm PhonePe paused its plans earlier due to geopolitical changes but is monitoring the market.
International brands are also targeting the Indian stock market. Global beverage giant Coca-Cola plans to list its largest Indian bottling unit named Hindustan Coca-Cola Holdings. The parent company already appointed investment bankers and aims for a public listing in the year 2027. Financial experts believe the success of these early large listings will set the final tone for the rest of the year.
Source: Upstox
Disclaimer: This news report is meant for informational purposes only and does not offer financial investment guidance. Please consult experts before applying for any upcoming public issue.