Capital mobilisation hits record Rs 3.15 lakh crore in June 2026; Primary market pace moderates in Q1FY27: NSE
New Delhi, July 23
Total fund mobilisation through equity, debt, and business trusts surged 122 per cent month-on-month to Rs 3.15 lakh crore in June 2026, marking the highest monthly mobilisation on record, according to the NSE Market Pulse report.
The sharp increase was primarily driven by debt issuances, which rose 142 per cent MoM to Rs 2.59 lakh crore. Higher mobilisation through Commercial Papers (CPs) and privately placed Non-Convertible Debentures (NCDs) supported this debt expansion.
"CP issuances more than doubled to Rs 1.9 lakh crore (+137% MoM), while private NCD issuances increased to ~Rs 69,700 crore (+157% MoM), reflecting strong funding demand from corporates," the report stated.
Fund raising through equity issuances also recovered strongly, increasing 83 per cent MoM to approximately Rs 53,000 crore, led by higher preferential allotments and Qualified Institutional Placements (QIPs).
"QIPs also strengthened, mobilising ~Rs 7,500 crore, while IPO mobilisation remained relatively modest at ~Rs 1,900 crore across the Mainboard and NSE EMERGE platforms," the report said.
Conversely, fund mobilisation through Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) moderated to approximately Rs 2,000 crore, down from Rs 5,000 crore recorded in May.
The report noted that "Within equity issuances, preferential allotments remained the largest source of capital, raising ~Rs 22,500 crore (including Mainboard and NSE EMERGE issuances), followed closely by secondary market Offer for Sale (OFS) issuances at ~Rs 21,000 crore."
During the first quarter of FY27, primary market activity remained measured. Eight companies listed on the Mainboard platform raised approximately Rs 4,700 crore, while fourteen companies listed on the NSE EMERGE platform mobilised Rs 976 crore through initial public offerings (IPOs). Although the pace of listings slowed compared to FY26, the primary market continued to attract issuers across diverse sectors.
"Despite a slower pace of listings, the IPO pipeline remained healthy, with several draft offer documents (DODs) under various stages of processing at the exchange, indicating sustained issuer interest in accessing the capital markets," the report said.
For FY27 up to June, the average IPO size stood at approximately Rs 585 crore on the Mainboard platform, down from Rs 1,603 crore in FY26. On the SME platform, average IPO size rose to approximately Rs 70 crore from Rs 48 crore in FY26.
— ANI
Reader Comments
Interesting data from NSE. The 122% MoM jump in capital mobilisation suggests strong economic confidence. But I noticed IPO mobilisation remained modest at ~Rs 1,900 crore. With so many DRHPs flooding the market, investors need to be careful about valuation froth. The average IPO size falling from Rs 1,603 crore to Rs 585 crore also tells a story of market caution.
Finally some good news! 🎉 The CP market doubling is huge—shows corporates are borrowing smartly. But what about retail investors? With debt raising at Rs 2.59 lakh crore vs equity at Rs 53,000 crore, feels like companies are piling on leverage. Hope the RBI and SEBI are keeping an eye on systemic risks. Also, REITs/InvITs slowing down is a worry for those in real estate.
Respect to NSE for transparent reporting. The QIP movement (~Rs 7,500 crore) and preferential allotments (~Rs 22,500 crore) show institutional confidence. But the modest IPO activity in Q1FY27 (only 8 mainboard listings) suggests the primary market is catching its breath after the FY26 boom. Let's see if the pipeline converts well in H2.
Great to see capital markets booming! But one concern—are small investors being pushed into risky SME IPOs? The average SME IPO size rising from Rs 48 crore to Rs 70 crore is fine, but I worry about the quality of companies listing on Emerge. SEBI needs to strengthen supervision there. Also, Rs 2.59 lakh crore in debt—hope businesses aren't taking too much risk. 🤞
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