India Eyes Record $60B IPO Year as Filings Surge 1.5x

For global investors and financial institutions, India’s IPO market is set to deliver a watershed year, as Kotak Investment Banking forecasts $60 billion in equity capital market activity—a new record that would cap a decade of sustained growth. With filings already 1.5 times higher than in the preceding two years, and challenges from Middle Eastern tensions abating, the second half of 2026 is expected to unleash a wave of high-profile public offerings, testing market depth but creating substantial fee income for banks and new opportunities for portfolio diversification.

India’s equity capital markets are defying a sluggish start to the year, with Kotak Investment Banking projecting a record $60 billion in total fundraising for 2026, underscoring the resilience of the world’s fastest-growing major economy. In a Bloomberg TV interview, V. Jayasankar, managing director and deputy CEO at the bank, noted that despite headwinds from Middle Eastern geopolitical turmoil delaying some transactions earlier in the year, the pipeline of initial public offerings is exceptionally robust. IPO filings are running at 1.5 times the level of the past two years, which Jayasankar described as “an incredible pipeline, high-quality, some very large transactions.” This follows a banner 2025 for Indian equities, when capital markets activity shattered previous records, fueled by strong domestic liquidity, retail participation, and a wave of new-age tech and financial firms going public.

“

For global investors and financial institutions, India’s IPO market is set to deliver a watershed year, as Kotak Investment Banking forecasts $60 billion in equity capital market activity—a new record that would cap a decade of sustained growth.

The second half of 2026 is expected to see a listings boom, with several marquee names in advanced stages of preparation. Among them are Jio Platforms, the digital services arm of Reliance Industries, which could be one of the largest IPOs in India’s history, and the National Stock Exchange of India (NSE), whose long-anticipated listing has been a bellwether for the market’s depth. The sheer scale of these offerings, combined with a broad-based pipeline spanning sectors from technology to industrials, suggests that India is not only cementing its status as a premier destination for capital formation but also offering a viable exit route for private equity and venture capital investors who have poured billions into the country’s startup ecosystem over the past decade.