Equity Offerings Worth $6 Billion Lined Up For Second Half Of 2026

India’s primary market could see a significant rise in fundraising activity during the second half of 2026, with companies and existing shareholders preparing equity offerings estimated at around ₹60,000 crore, or nearly $6 billion, according to a Bloomberg analysis.

The anticipated list of securities expected to come into play comprises IPOs, qualified institutional placements, government disinvestment deals, and share sales tied to lock-in period expiry.

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This is happening at the backdrop of subdued levels during the first half of the year, where volatile market performance and weak investor sentiments curbed deal-making momentum.

The Indian equity markets have had to grapple with challenges in the past few months owing to apprehensions regarding trade policies and geopolitical tension between the countries within the Middle East region. Rising crude oil costs and redemptions by foreign investors have led to heightened levels of volatility in the stock market.

Top Candidates in the Pipeline

There are some major deals expected to boost the IPO pipeline in the upcoming periods. Zepto, a quick commerce platform, has recently filed a revised draft of its prospectus to seek approval to conduct an IPO worth around $1 billion. Another deal to watch out for includes the public issue of NSE India with a valuation of around $2.5 billion.

The listing of Reliance Jio IPO remains under the scrutiny of investors, making it one of the most anticipated IPOs of India.

Bloomberg data showed that Indian IPOs have raised roughly $3.5 billion so far in 2026. That figure remains well below the pace recorded in the previous two years, when annual proceeds exceeded $20 billion.

Lock-In Expiries May Increase Share Supply

Beyond fresh fundraising, a substantial volume of existing shares may become eligible for sale in the coming months.

According to data from Nuvama Wealth Management, lock-in restrictions are scheduled to expire for more than 75 listed companies over the next four months. The expiry could potentially release shares worth nearly $31 billion into the market.

However, the available supply may not translate into equivalent selling activity because a large portion of these holdings remains with promoters and promoter-group entities.

The increase in tradable shares nevertheless has the potential to influence liquidity and market absorption capacity, particularly if multiple transactions are launched within a short period.

Regulatory Pipeline Remains Strong

India continues to maintain one of the world’s most active primary markets. Data from Prime Database showed that 163 companies have already received approval from the Securities and Exchange Board of India (SEBI) to launch IPOs. In addition, 62 companies have filed draft offer documents and are awaiting regulatory clearance.

The size of the pipeline demonstrates that corporations still see the need to raise capital via the equity markets, despite a difficult environment in the global economy. The level of activity in the second part of the year will be dependent on market developments and major deals being negotiated.