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Indian companies raised a record Rs 94,205 crore through main board initial public offerings (IPOs) in the first half of 2026-27, while 145 companies with regulatory approval are awaiting launch of issues worth around Rs 2.78 lakh crore, according to a research report by PRIME Database.
The record IPO mobilisation was 35 per cent higher than the previous high of Rs 69,533 crore raised by 65 IPOs in the first half of 2025-26. PRIME Database Group Managing Director Pranav Haldea said the fundraising came despite a slow start to the year and volatile secondary markets. The pipeline remains large, with 145 companies that have already received Securities and Exchange Board of India (SEBI) approval waiting to launch issues worth around Rs 2.78 lakh crore. Another 102 companies proposing to raise around Rs 1.87 lakh crore are awaiting SEBI approval. The release said several more issuances are expected in the remaining part of the year as approvals begin to lapse and demand continues from domestic and foreign investors. The pipeline of issues continues to be staggering, the release said, adding that the remaining part of the year should see several more issuances despite volatile markets. Investor participation also strengthened during the first half. Of the 64 IPOs for which response data was available, 42, or 66 per cent, received subscriptions of more than 10 times. Average retail applications per IPO rose to 17.71 lakh from 12.69 lakh a year earlier, while average retail oversubscription increased to 29 times from 23 times. Listing performance also supported investor interest. The average listing gain of the 64 IPOs that had been listed rose to 19 per cent from 7 per cent in the year-ago period. As of September 29, 46 of the 64 IPOs, or 72 per cent, were trading above their issue price. Overall public equity fundraising rose 75 per cent to a record Rs 2.43 lakh crore in the first half, supported by a sharp rise in offers for sale and qualified institutional placements. Fresh capital accounted for Rs 1.14 lakh crore, or 47 per cent, of total equity mobilisation. Among the largest main board IPOs were NSE at Rs 22,563 crore, SBI Funds Management at Rs 9,795 crore and Manipal Health Enterprises at Rs 9,275 crore. (ANI)
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