India’s blockbuster IPO cycle is expected to continue well into 2026, with global investment banks Goldman Sachs and JPMorgan projecting another strong year for primary market fundraising. According to estimates by Kotak Mahindra Capital Company and Goldman Sachs, total IPO proceeds next year could reach up to $25 billion, reflecting sustained investor appetite and a robust deal pipeline.
Strong Pipeline Supports IPO Momentum
Bankers point out that India’s equity capital markets are benefiting from a steady flow of companies across sectors such as technology, manufacturing, consumer, financial services, and new-age digital platforms. Improved corporate balance sheets, steady domestic inflows, and India’s long-term growth story continue to attract both global and local investors.
Domestic Liquidity and Global Interest Key Drivers
The resilience of India’s IPO market is being driven largely by strong domestic institutional participation and retail demand, even amid global volatility. Foreign investors are also expected to play a larger role if global interest rate cycles ease and risk appetite improves.
Outlook for 2026
With valuations stabilising and earnings visibility improving, investment banks believe India will remain one of the most active IPO markets globally in 2026. Large listings, private equity exits, and startup IPOs are likely to keep the momentum intact, positioning India as a preferred destination for equity capital.
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