BREAKING
120 electric buses for Mysuru under PM-e Bus Sewa schemeAjay Devgn to make hosting debut with ‘Crime Patrol’, replaces Anup SoniNews Update 10.08.2026: Iran President says Mojtaba Khamenei ‘completely healthy’ amid health rumoursAir India issues travel advisory, asks flyers to reach airports earlyGovernment cannot be run with batons: Hunger-striking Mahto hospitalised in Ranchi‘Troubling mindset’: Delhi HC rejects claim that girls wearing jeans corrupts boysOpinion: What a Telangana village tells us about social securityTeam Speed post record 746/8 in HCA B-Division leagueHIPLEX 2026 generates over Rs 150 crore in businessIllegal, null and void: China rejects India’s standard names for 27 Arunachal features
Business

IPO boom stays strong, but investors raise the bar

hellohimachalse@gmail.com 10 Aug 2026 1 hour ago

New Delhi: Indian companies raised Rs 1.9 lakh crore through more than 360 IPOs in FY26, keeping the country among the world’s busiest primary markets, but a sharp moderation in listing gains and oversubscription signalled that investors are becoming increasingly selective.

According to Grant Thornton Bharat’s report on India’s IPO market published on Monday, fundraising remained robust despite global uncertainty, geopolitical tensions and volatile market conditions.

However, investor appetite shifted towards companies with stronger fundamentals, better governance, earnings visibility and more disciplined valuations.

Mainboard IPOs hit an all-time high of 109 in FY26, raising around Rs 1.77 lakh crore. This compares to 80 IPOs that mobilised Rs 1.63 lakh crore in FY25. India accounted for 14 per cent of global IPO listings in March 2026, second only to China, the report said.

The resilience of India’s capital markets was supported by strong domestic participation and an expanding investor base. However, market sentiment became more measured, with global developments, commodity prices and currency movements increasingly influencing investor decisions.

As per the report, offer for sale (OFS) continued to dominate mainboard IPO proceeds, accounting for 61 per cent, although the fresh issue component rose to 39 per cent, indicating a gradual revival in growth-capital raising.

The shift in investor behaviour was also evident in subscription and listing performance. Average IPO oversubscription fell sharply to 39 times in FY26 from 71 times in FY25, reflecting greater scrutiny of valuations, governance standards and business quality.

Average listing-day gains moderated to 7 per cent in FY26 from 29 per cent in FY25, while the average annual performance of listed IPOs stood at a negative 17 per cent, pointing to a more discerning investment environment. “In today’s IPO market, success is no longer defined by the ability to list, but by the readiness to operate as a public company with the governance, discipline and credibility to sustain investor confidence well beyond the listing day,” said Karan Marwah, Partner and CFO Advisory Leader, Grant Thornton Bharat.

Related News