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228 IPOs

listed from 1 January to 21 September, raising ₹1,12,941 crore

India's IPO year so far: 228 listings, ₹1.13 lakh crore

Markets No. 24 23 September 2026 · 1 min read

India has had 228 IPOs between 1 January and 21 September 2026, 81 on the Mainboard and 147 on the SME boards, raising ₹1,12,941 crore between them.

This primer takes 3 charts to that year: when the money came in, which sectors took it, and what the 10 largest listings cost now against what they cost at the IPO.

The full working, and the 13 other charts behind it, are in the Macro Brew piece on where the IPO money went.

The last 3 months raised 3.5 times the first 6 months

Money raised by IPOs each quarter, in ₹ crore. 78% of the year's money came in July, August and September.

Money raised by IPOs in India each quarter of 2026, in rupees crore, split into new shares on the Mainboard, existing shares sold on the Mainboard, and the SME boards. January to March raised ₹18,690 crore, April to June ₹6,569 crore, and July to September ₹87,682 crore, 3.5 times the first 6 months and 78% of the year. In the last quarter existing shares sold, ₹53,402 crore, outweighed new shares, ₹30,859 crore. The 4 largest IPOs of the year, NSE, SBI Funds Management, Manipal Health and Indo-MIM, all came in those 3 months.

₹ CRORE RAISED, BY LISTING DATE

New shares, MainboardExisting shares sold, MainboardSME boards, all

New shares: money that goes into the company. Existing shares sold: a shareholder sells and keeps the money. The 4 largest IPOs of the year all came in the last 3 months: NSE, SBI Funds Management, Manipal Health and Indo-MIM.

Chittorgarh IPO lists, Mainboard and SME, 2026 · 1 Jan to 21 Sep 2026

Finance raised a third of the money from just 8 IPOs

Money raised by sector, in ₹ crore, with the number of IPOs in each. Consumer and industrial firms did most of the IPOs; NSE alone makes finance the biggest by money.

₹ CRORE RAISED, BY SECTOR

  • Finance, 8 IPOs
  • Consumer, 71 IPOs
  • Industrials, 68 IPOs
  • Healthcare, 17 IPOs
  • Other 6 sectors, 64 IPOs
Money raised by sector across all 228 IPOs, ₹1,12,941 crore in total. Finance took ₹37,264 crore, 33.0%, from just 8 IPOs, and NSE alone is ₹22,562 crore of that. Consumer follows with ₹20,054 crore from 71 IPOs, 17.8%, then industrials ₹17,945 crore from 68 IPOs, 15.9%, healthcare ₹13,293 crore from 17 IPOs, 11.8%, and the other 6 sectors ₹24,385 crore from 64 IPOs, 21.6%. Consumer and industrial firms did most of the IPOs; finance is largest only by money.

NSE alone is ₹22,562 crore of the finance slice

The other 6 sectors are IT, Services, Utilities, Commodities, FMCG and Energy. Sectors are Screener.in's.

Chittorgarh IPO lists for size; Screener.in for sector · 1 Jan to 21 Sep 2026

Most of the big IPOs got dearer after listing

P/E at the IPO price and at the 21 September price, same profit. 7 of the 10 are dearer now.

The 10 largest IPOs of 2026, with the IPO price, the 21 September price and the price to earnings ratio at each, on the same profit. 7 of the 10 are dearer now. Indo-MIM is up 139%, from 45 times earnings to 108, and Shadowfax up 120%, from 170 times to 375. Manipal Health, Clean Max Enviro, Dhoot Transmission, CMPDI and Juniper Green Energy also rose. SBI Funds Management is down 4%, Fractal Analytics down 15% and LEAP India down 8%.

Chittorgarh IPO pages; prices from Screener.in · Prices of 21 Sep 2026

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