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India's IPO Boom Hits Rs 1.8 Lakh Cr Record in FY26, SME Listings Slow

India's primary market achieved a historic milestone in FY26, with companies raising a record Rs 1.8 lakh crore through initial public offerings. A total of 219 companies were listed, with the mainboard segment driving the surge by raising Rs 1.7 lakh crore from 108 IPOs. In contrast, the SME segment on the NSE Emerge platform saw a significant slowdown, with both the number of issuances and funds raised declining compared to the previous year. The robust activity contributed Rs 12.5 lakh crore to the overall market capitalisation, underscoring strong investor confidence and market expansion.

Key Points: India's FY26 IPO Fundraising Hits Record Rs 1.8 Lakh Crore

  • Record Rs 1.8 lakh crore raised via IPOs
  • 219 total company listings in FY26
  • Mainboard IPOs hit all-time high, SME listings slow
  • New listings add Rs 12.5 lakh crore to market cap
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India IPO fundraising hits record Rs 1.8 lakh crore in FY26, small company listing slows: NSE report

NSE report reveals record Rs 1.8 lakh crore raised via 219 IPOs in FY26, though SME segment activity shows significant moderation.

India IPO fundraising hits record Rs 1.8 lakh crore in FY26, small company listing slows: NSE report
"Record mainboard issuances in FY26, SME IPO activity moderates. - NSE report"

Mumbai, April 22

India's primary market witnessed a record year in FY26, with companies raising Rs 1.8 lakh crore through initial public offerings, even as activity in the SME segment showed moderation, according to a report by the National Stock Exchange.

The report stated that a total of 219 companies were listed during the fiscal year, marking the highest annual fund mobilisation on record.

NSE stated, "Record mainboard issuances in FY26, SME IPO activity moderates. During the last fiscal year, a total of 219 companies were listed on the exchange, collectively raising Rs 1.8 lakh crore".

Out of the total listings, the mainboard segment accounted for 108 IPOs, raising Rs 1.7 lakh crore--also the highest ever in terms of both number of issuances and capital raised. In contrast, 111 SME IPOs were listed on the Emerge platform, mobilising Rs 5,363 crore.

The SME segment, however, witnessed a slowdown compared to the previous fiscal year, with the number of issuances declining by 32 per cent and funds raised falling by 25 per cent.

Collectively, the newly listed companies contributed Rs 12.5 lakh crore to the market capitalisation as of the end of FY26, reflecting strong investor participation and market expansion.

The report also highlighted trends in further equity issuances by listed companies. Total equity fundraising through additional issuances stood at Rs 2.4 lakh crore in FY26, registering a 6 per cent year-on-year increase.

Among these, preferential allotments accounted for the largest share at 54 per cent, followed by qualified institutional placements (QIPs) at 28 per cent and rights issues at 18 per cent.

Within the mainboard segment, funds raised through preferential allotments more than doubled, rising 105 per cent year-on-year to Rs 1.3 lakh crore. Rights issues also saw a sharp increase, surging 172 per cent to around Rs 42,700 crore. However, QIP fundraising declined significantly by 47 per cent year-on-year to approximately Rs 67,600 crore.

Despite global uncertainties, including geopolitical tensions in West Asia, the IPO market remained resilient during the year. In March 2026 alone, nine mainboard IPOs raised Rs 8,056 crore, while six SME IPOs mobilised Rs 242 crore.

The total fund mobilisation of Rs 8,297 crore in March 2026 marked the highest IPO activity recorded for the month of March over the past six years, the report noted.

- ANI

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Reader Comments

P
Priya S
While the headline number is impressive, the slowdown in SME IPOs is worrying. Small and medium enterprises are the backbone of our economy and create the most jobs. If they are finding it harder to raise capital, it could signal underlying stress. Hope regulators look into this.
R
Rohit P
As a small investor, I've participated in a few of these IPOs. The process has become much smoother in recent years. The key is to do your own research and not get carried away by the hype. Some listings have given fantastic returns, while others have been duds.
S
Sarah B
Interesting to see the shift in fundraising methods. Preferential allotments doubling makes sense - it's a faster route for companies. But the sharp drop in QIPs is surprising. Maybe foreign institutional investors are being more cautious due to global volatility?
V
Vikram M
Rs 12.5 lakh crore added to market cap! That's the real story. It shows these new listings are being valued well and contributing to wealth creation. This momentum needs to continue for India to become a $10 trillion economy. Jai Hind!
M
Michael C
The resilience mentioned is key. Despite West Asia tensions and other global headwinds, our market kept attracting issuances. This speaks volumes about India being seen as a stable and growing destination for capital, separate from other emerging markets.
K

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