3 days ago
India’s Mainboard IPO Pipeline Reaches Rs 3.86 Lakh Crore
Many Indian companies are preparing to sell shares to the public.
Together, these planned IPOs are worth about Rs 3.86 lakh crore.
Around 130 companies have already received approval from SEBI.
Another 75 companies are waiting for approval.
In 2026 so far, 84 mainboard IPOs have raised Rs 1.10 lakh crore.
Smaller companies have also raised more money through SME IPOs.
Investors from institutions, wealthy individuals and the public have participated.
AIBI says the market’s future will depend on company quality, clear disclosures and responsible use of capital.
India’s mainboard IPO pipeline is valued at Rs 3.86 lakh crore, according to AIBI.
Around 130 companies have received SEBI approval, while 75 await approval after filing DRHPs.
Mainboard IPOs raised Rs 1.10 lakh crore through 84 issues in 2026 year-to-date.
Mainboard fundraising totaled Rs 8.36 lakh crore from 2016 through 2026 year-to-date.
SME IPO activity and merchant banking capacity have also expanded, with investor subscriptions remaining strong.
- Who
- Indian companies, investors, the Association of Investment Bankers of India, and market regulator Securities and Exchange Board of India.
- What
- India’s mainboard IPO pipeline has reached Rs 3.86 lakh crore, including approved and pending offerings.
- Where
- India’s primary capital market.
- When
- The figures cover 2016 through 2026 year-to-date; the report was published on September 28, 2026.
- Why
- Companies are increasingly using public markets to raise capital, while the primary market develops into a broader capital-formation channel.
Key facts
- Total IPO pipeline
- Rs 3.86 lakh crore
- Companies with SEBI approval
- Around 130 companies, representing approximately Rs 2.43 lakh crore
- Companies awaiting approval
- Around 75 companies, representing approximately Rs 1.44 lakh crore
- Mainboard IPOs in 2026 YTD
- 84 issues raised Rs 1.10 lakh crore
- Cumulative mainboard fundraising
- Rs 8.36 lakh crore from 2016 through 2026 YTD
- SME IPOs in 2026 YTD
- 156 issues; average issue size was Rs 45 crore
- Average 2026 YTD subscription
- Approximately 49 times for QIBs, 86 times for HNIs and 26 times for retail investors
Quotes
Mahavir Lunawat
Chairman of the Association of Investment Bankers of India
“India’s primary market has moved well beyond an episodic fundraising cycle. We have already seen Rs 1.10 lakh crore mobilised through 84 mainboard IPOs in 2026 YTD”
thehindubusinessline.com
Sources
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