IPO Pipeline 2026

Sumax Engineering

Credent Connect N Care

Eventions

Hgs (India)

Hero Motors

₹1,200 Cr (₹800 Cr fresh + ₹400 Cr OFS)

Powertrain and auto-components maker (part of the Hero/Munjal group) supplying transmissions and drivetrain parts globally. SEBI approved the ₹1,200 Cr issue in Sep 2025.

Veritas Finance

₹2,800 Cr (₹600 Cr fresh + ₹2,200 Cr OFS)

MSME-focused NBFC lending to small businesses across South and West India. SEBI approved the ₹2,800 Cr issue in May 2025; the ~12-month validity window is closing, so timing is uncertain.

Milky Mist

₹2,035 Cr (₹1,785 Cr fresh + ₹250 Cr OFS)

South India's leading dairy brand (paneer, curd, cheese). SEBI approved the ₹2,035 Cr issue in Oct 2025; raised pre-IPO capital in May 2026 so launch is not imminent.

OYO (Oravel Stays / PRISM)

₹6,650 Cr (fresh issue)

Global hospitality chain (rebranded PRISM) with 160,000+ hotels. SEBI cleared the ₹6,650 Cr fresh issue in Jun 2026; updated DRHP expected early Jul 2026.

boAt (Imagine Marketing)

₹1,500 Cr (₹500 Cr fresh + ₹1,000 Cr OFS)

India's largest hearables and wearables brand and TWS market leader. Filed an updated DRHP cutting the issue to ₹1,500 Cr; SEBI cleared the offer.

SBI Funds Management

₹11,000–13,000 Cr (pure OFS)

India's largest mutual fund by AUM, a joint venture between SBI and Amundi. SEBI cleared the ~10% OFS in Jun 2026; RHP and price band expected early Jul 2026.

R.K. Fashion Accessories

Bulls Eye Knowledge System

Vedant Poly Fabs

A J Packaging

Qualiance International

Accufast Metals

Pramodini Medicare

Yogiraj Powertech

Addsoft Technologies

Cellcronic Technologies

Sheetal Medicare Products

Smartdata Enterprises (India)

PhonePe

TBA (pure OFS)

India's leading UPI payment platform with 500M+ registered users, backed by Walmart/Flipkart. Filed an updated DRHP (UDRHP-I) in Jan 2026; the listing timeline was put under review in Mar 2026 citing market conditions.

Hero FinCorp

₹3,668 Cr (₹2,100 Cr fresh + ₹1,568 Cr OFS)

Hero MotoCorp-backed NBFC (₹16,000 Cr+ loan book) financing two-wheeler purchases and personal loans, backed by ADIA and General Atlantic. Its earlier SEBI approval (May 2025) lapsed; awaiting fresh observations.

Rentomojo

TBA

Furniture and appliance rental startup targeting young professionals in Tier-1 cities. Filed DRHP in Mar 2026; SEBI observations and final issue size pending.

Zepto

₹11,000 Cr (est.)

India's fastest-growing quick-commerce platform, delivering groceries in minutes. Filed confidentially in Dec 2025 and moved to a public updated DRHP in Jun 2026; targeting a Jul 2026 listing.

NSE (National Stock Exchange)

₹30,000 Cr (pure OFS)

India's largest stock exchange by volume. Filed its DRHP in Jun 2026 after a decade of false starts — a 100% Offer for Sale of ~14.89 crore shares (~6% of capital), India's largest IPO ever. Lists on BSE.

Jio Platforms

₹37,700 Cr (fresh issue)

Listing vehicle for Reliance's digital business — India's largest telecom operator (Jio) plus JioFiber and digital services. India's largest-ever IPO: a pure fresh issue at a ~$137B valuation, no OFS.

Zetwerk

₹4,000–5,000 Cr (est.)

B2B contract-manufacturing marketplace connecting OEMs with suppliers across industries. Began its IPO process via the confidential pre-filing route in early 2026; figures are press-reported and not yet public.

Curefoods

₹800 Cr fresh + OFS (approved, on hold)

Cloud-kitchen operator behind EatFit and other food brands. SEBI approved the issue in Oct 2025, but the company has put the IPO on hold amid market volatility.

Flipkart

TBA

India's leading e-commerce platform, backed by Walmart. No DRHP filed; Walmart has deferred the listing, prioritising EBITDA breakeven before reviving IPO plans.

Prestige Hospitality Ventures

₹2,700 Cr (approved, on hold)

Hotel and hospitality arm of Prestige Group. The ~₹2,700 Cr IPO has been shelved in favour of a private-equity stake sale amid market weakness; not currently proceeding.