Citi expects India IPO market to rebound later in 2026
After a slow start in 2026, India's IPO scene is expected to heat up later this year.
Citi points to big launches like Jio Platforms's much-hyped IPO and the long-awaited National Stock Exchange listing as major reasons for the rebound.
The sluggishness so far was mostly due to foreign investors pulling out and a weaker rupee.
IPOs $3.5bn and M&A activity rising
Only $3.5 billion has been raised through IPOs so far in 2026, way down from $22.4 billion last year when India was the world's third-biggest IPO market.
Still, Citi's Arvind Vashistha says most deals usually happen at the end of the year, and this time, numbers could even beat 2025 by up to 10%.
On the mergers and acquisitions front, activity is picking up too, with Indian companies making big moves and global firms selling off non-core assets despite some economic headwinds.