A record six initial public offerings are set to launch in India on a single day next week, as companies hasten fundraising plans after a sluggish start to 2026 amid the US-Iran war.
Furniture rental platform Rentomojo, Asset Reconstruction Company (India), and Manipal Payment & Identity Solutions are among the six IPOs opening for subscription on September 9.
The six offerings, which are expected to raise a total of up to 45.11 billion rupees ($477.46 million), are part of a broader rush. At least five other IPOs are also scheduled to launch next week, setting up one of the busiest stretches for India’s primary market this year.
IPOs worth nearly $4 billion are expected in September, with automotive technology company Hero Motors and stock exchange NSE among other offerings expected during the month, according to investment bankers.
NSE and Hero Motors did not immediately respond to a Reuters request for comment.
The strong momentum is expected to persist for the rest of the year, with potentially India’s biggest IPO from billionaire Mukesh Ambani-backed Jio Platforms also on the horizon.
“We are in a strong structural IPO market. There is a strong appetite for companies that are coming with high growth opportunities,” said Bhavesh Shah, managing director at Equirus Capital.
Although India remains the busiest IPO market by number of issues in 2026—with 165 offerings raising $8.61 billion in the year to August 26, according to LSEG data—activity slowed in the first half amid the conflict before rebounding as risk appetite improved.
Analysts said companies were also rushing to the market, which ranks fourth globally by IPO proceeds, before the expiry of IPO approvals from the markets regulator, which had granted extensions until September 30 after deal activity slowed.
Improving sentiment has been reflected in demand for new issues, with average IPO subscriptions more than doubling to 59.1 times in July and August from 24.5 times in April-June, while average listing gains climbed to 19.5% from 5.7%, according to NovaaOne Investment Banking.
“However, it is not a reckless market. There is a lot of restraint and discipline as to which IPOs investors participate in,” Shah said.
Reuters
