Indian companies pull record $12.5B from IPOs as fundraising drops

Business Oct 09, 2026

Indian companies pulled in a record $12.5 billion from IPOs in the first nine months of 2026, the most for this stretch since 1980, even though the Nifty 50 index dropped by 14%.

While IPOs were booming, overall equity fundraising actually dipped to a three-year low of $40.8 billion.

India sees fewer IPOs, larger averages

There were fewer IPOs this year (down nearly 18%), but the average size got bigger, thanks to major listings like NSE, SBI Funds Management, and Manipal Health, which together made up over a third of all funds raised.

Local investors helped keep things strong even as foreign investors pulled money out.

Still, profits on listing day have cooled off lately, showing that while big names are winning big, smaller companies are finding it tougher in today's market.