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A Dozen Companies Prepare October IPOs as Fundraising Momentum Continues
Many companies in India plan to sell shares to the public in October.
This is called an IPO.
The companies work in areas such as technology, health care, clean energy and defence.
Some will use the money they raise to grow or pay business costs.
Some shares will instead be sold by current owners.
Jio Platforms is expected to have the biggest IPO in India so far.
Experts say investors are paying close attention to company quality and share prices.
They also say companies need sensible valuations to attract investors.
Around a dozen companies, including Jio Platforms, Zetwerk and Avaada Electro, are expected to launch IPOs in October.
The offerings span technology, healthcare, renewable energy, defence and precision manufacturing, using fresh issues, offers for sale or both.
Companies raised more than ₹1.1 lakh crore through 96 IPOs in 2026 so far, including 35 in September.
Jio Platforms’ IPO is scheduled for October 21–23 and is expected to be India’s largest to date; Zetwerk plans to raise about ₹5,000 crore.
JM Financial’s Neha Agarwal says investors are increasingly focused on valuation, earnings visibility, governance and capital efficiency.
- Who
- About a dozen companies, including Jio Platforms, Zetwerk Manufacturing Business and Avaada Electro.
- What
- They are preparing IPOs to raise funds, through new shares, sales by existing shareholders, or both.
- Where
- India’s primary market.
- When
- October 2026; Jio Platforms is scheduled for October 21–23.
- Why
- To raise money for purposes including expansion, capital expenditure, debt repayment and working capital; some offerings also allow existing investors to sell shares.
Reasons for optimism
Investor cautions
Market appetite
Reasons for optimism
JM Financial’s Neha Agarwal says deep domestic liquidity and selective foreign capital support institutional demand, and the market can absorb multiple large offerings if pricing is disciplined.
Investor cautions
Secondary-market volatility and geopolitical developments could affect the timing of launches, while investors’ responses depend on company track records and industry prospects.
Offer-for-sale transactions
Reasons for optimism
Agarwal says promoter or early-investor dilution is not necessarily a concern; OFS transactions can let private equity and growth investors realise gains after scaling a business.
Investor cautions
Investors will assess whether valuations leave enough upside for public-market buyers, alongside operating performance and corporate governance.
Key facts
- Expected IPO count
- About a dozen companies
- Fundraising so far in 2026
- More than ₹1.1 lakh crore across 96 IPOs
- September IPOs
- 35
- Jio Platforms subscription dates
- October 21–23, 2026
- Jio Platforms outlook
- Expected to be India’s largest IPO to date
- Zetwerk proposed fundraising
- Around ₹5,000 crore, including a ₹2,600-crore fresh issue and an OFS of up to 9.68 crore shares
- HD Fire Protect price band
- ₹258–271 per share; ₹712-crore IPO
- Fusion CX price band
- ₹275–289 per share; ₹702-crore IPO
Quotes
Neha Agarwal
Managing director and head of equity capital markets at JM Financial Ltd.
“India's primary market momentum continues into the second half with a robust pipeline. While secondary-market volatility and geopolitical developments may induce selective launch windows, the underlying appetite for quality paper remains structural.”
rediff.com
thehindubusinessline.com
“Investor behaviour is shifting from momentum-driven to quality-and valuation-driven.”
rediff.com
thehindubusinessline.com
Sources
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