# IPO boom: FY26 sees record 109 listings, ₹1.9 lakh crore raised

2026-08-10T16:02:46+00:00 | Business & Economy | Indian Opinion Desk

Corroboration: 1 independent outlet

Indian companies raised a record ₹1.9 lakh crore through 109 mainboard IPOs in FY26, the highest number of listings ever in a fiscal year, according to a Grant Thornton Bharat report. The surge comes amid a sharp shift in investor behaviour: average oversubscription fell to 39 times from 71 times in FY25, and average listing-day gains moderated to 7% from 29% previously. The report attributes the discipline to geopolitical volatility and stronger scrutiny of fundamentals. Despite global uncertainties, India accounted for 14% of worldwide IPO listings in March 2026, second only to China. Of the total proceeds, 61% came from offer-for-sale (OFS) transactions, while fresh capital raising rose to 39%, signalling a gradual revival in growth funding. The SME segment also hit a record, with 258 IPOs mobilising ₹12,030 crore. Pranav Haldea of PRIME Database noted that SEBI approvals are valid for a year, prompting companies to list even at lower-than-desired valuations rather than let approvals lapse.

## Coverage

- thehindu.com <https://www.thehindu.com/business/geopolitics-drives-valuation-discipline-for-ipos-in-h1-2026/article71328520.ece>
- thehindubusinessline.com <https://www.thehindubusinessline.com/markets/indian-firms-raise-19-lakh-crore-through-ipos-in-fy26-amid-cooling-listing-gains/article71327750.ece>

Tags: geopolitical risks, IPOs, market volatility, SEBI, stock market, valuation discipline
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