Sector-Wise Upcoming IPOs In India 2026
- Updated: 26 Aug 2026, 6:07 PM IST
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The Indian Initial Public Offering (IPO) market has been quite active this year. As of 18 August 2026, 44 mainboard IPOs had already been listed on the Indian stock exchanges. There are still companies from different sectors in the IPO pipeline, giving investors several issues to track in the months ahead.
In this article, let us go through the upcoming IPOs sector-wise below, along with their status, expected IPO date, issue size, and IPO type.
List Of Sector-wise Upcoming IPOs In 2026
The tables below cover companies from different sectors that are in the IPO pipeline. The IPO status, expected date and issue size can change as companies move through the approval process, so these details should be checked before making an investment decision.
Upcoming Financial Sector IPOs
The financial sector continues to have a sizeable IPO pipeline, with both established financial businesses and newer companies looking to tap the primary market. The table below includes the financial-sector issues with an upcoming or yet-to-be-announced IPO date.
Acko Technology & Services Private Limited | IPO preparation, DRHP expected to be filed by September 2026 | Early 2027 | Approximately $300 million | Mainboard |
Hero FinCorp Limited | DRHP filed, received SEBI approval for IPO, dates to be announced | 2026 | ₹3,668.13 crore | Mainboard |
EAAA India Alternatives Limited | DRHP filed, received SEBI approval for IPO, dates to be announced | Late 2026 - Early 2027 | ₹1,500 crore | Mainboard |
Navi Limited | IPO preparation, DRHP expected to be filed by March 2027 | 2027 | ₹3,000 crore | Mainboard |
Razorpay Software Limited | Confidential DRHP filed in June 2026 | Late 2026 - Early 2027 | ₹5,000 - ₹6,000 crore | Mainboard |
PhonePe Ltd. | Received SEBI approval in January 2026 | Late 2026 - Early 2027 | Offer for sale of up to 5.07 crore shares; no fresh issue | Mainboard |
IFL Finance Ltd. | DRHP filed in July 2026 | Late 2026 - Early 2027 | 3.85 crore equity shares: fresh issue of up to 3.55 crore shares + offer for sale of up to 30 lakh shares | Mainboard |
National Stock Exchange of India Ltd. (NSE) | DRHP filed in June 2026 | September 2026 | Offer for sale of up to 14.89 crore shares; no fresh issue | Mainboard |
Upcoming Jewellery Sector IPOs
Jewellery companies can offer investors a way to participate in the growth of the organised jewellery market through the stock market. Before investing in a jewellery IPO, it is worth looking at factors such as the company's sales growth, store network, profitability and how it plans to use the IPO proceeds. The table below lists some of the upcoming jewellery-sector IPOs to watch in 2026.
Arjun Jewellers Limited | DRHP filed in August 2026 | 2027 | ₹200 crore | Mainboard |
Master Chains N Jewels Limited | DRHP filed in July 2026 | 2027 | Fresh issue of ₹400 crore + Offer for sale | Mainboard |
Emerald Jewel Industry India Limited | Confidential DRHP filed in June 2026 | 2027 | ₹2,000 - ₹2,500 crore | Mainboard |
M.K.Sons Fine Jewels Limited | DRHP filed in May 2026 | 2027 | Amount TBA. The IPO consists of 1.70 crore equity shares | Mainboard |
Nityas Gems & Jewellery Limited | DRHP filed, received SEBI approval for IPO, dates to be announced | Late 2026 - Early 2027 | Amount TBA. The IPO consists of 1.45 crore equity shares | Mainboard |
Upcoming Pharma Sector IPOs
The pharma sector remains an important part of India's IPO pipeline, with companies from pharmaceuticals, healthcare and related businesses looking to raise funds. Investors tracking these IPOs can look at the company's product portfolio, financial performance, manufacturing capacity and the use of IPO proceeds before making a decision.
Encube Ethicals Limited | DRHP filed in August 2026 | 2027 | ₹3,000 crore | Mainboard |
Sahajanand Medical Technologies Limited | DRHP filed, received SEBI approval for IPO, dates to be announced | 2026 | Amount TBA. The IPO consists of 2.76 crore equity shares. | Mainboard |
Indira IVF Hospital Limited | DRHP filed, received SEBI approval for IPO, dates to be announced | Late 2026 - Early 2027 | ₹3,500 crore, entirely offer for sale | Mainboard |
Ujin Pharma Limited | DRHP filed in June 2026 | 2027 | Amount TBA. The IPO consists of 1.92 crore equity shares. | Mainboard |
Virupaksha Organics Limited | DRHP filed, received SEBI approval for IPO, dates to be announced | Late 2026 - Early 2027 | ₹740 crore | Mainboard |
Upcoming Tech Sector IPOs
India's technology sector is continuing to grow as digital products and services are becoming popular. Areas such as artificial intelligence, cloud computing, digital payments and e-commerce are adding to this growth, giving tech companies more opportunities to scale. The table below lists some of the upcoming technology-sector IPOs in 2026.
Zepto Limited | DRHP filed, received SEBI approval for IPO, dates to be announced | 2027 | Fresh issue of ₹8,000 crore** + Offer for sale | Mainboard |
Flipkart Internet Pvt | IPO preparation, DRHP yet to be filed | 2027 | To be announced | Mainboard |
CarDekho | IPO preparation, DRHP expected to be filed by September 2026 | 2027 | ₹3,000 crore | Mainboard |
Garuda Aerospace Limited | DRHP filed, received SEBI approval for IPO, dates to be announced | 2027 | ₹1,000 crore | Mainboard |
Rediff.com India Limited | DRHP filed, received SEBI approval for IPO, dates to be announced | 2027 | ₹600-800 crore | Mainboard |
** Zepto Limited initially planned to raise around ₹8,010 crore through its IPO. However, the company has put its IPO plans on hold amid disagreements over valuation and concerns about its cash burn. It may now look at smaller pre-IPO funding rounds instead.
Upcoming Energy Sector IPOs
The energy sector is also seeing activity in India's IPO pipeline, with companies from natural gas, power and renewable energy looking to access the primary market. Investors tracking these IPOs can look at the company's operating capacity, customer base, project pipeline, profitability and capital requirements before making a decision.
Torrent Gas Limited | SEBI approval received for confidential filing; updated draft papers expected to be filed | Late 2026-Early 2027 | Up to ₹4,000 crore | Mainboard |
Indian Gas Exchange Limited | DRHP filed on 29 July 2026 | 2026 | Up to 1.67 crore equity shares; amount to be announced | Mainboard |
Sterlite Electric Limited | DRHP filed in October 2025; IPO preparation continues | 2026-2027 | 1.56 crores of equity shares; 77.9 lakh fresh shares + the same number as offer for sale | Mainboard |
Upcoming Fast-Moving Consumer Goods (FMCG) Sector IPOs
The FMCG sector continues to have companies preparing to enter the primary market, covering packaged foods, spices, grocery retail and other consumer products. Investors tracking these IPOs can look at sales growth, product categories, distribution reach, brand strength, margins and working capital requirements before making a decision.
Functional & Innovative Foods Limited | DRHP filed in June 2026 | 2026-2027 | 85 lakh equity shares; 60 lakh fresh issue + 25 lakh offer for sale | Mainboard |
Pushp Brand India Limited | Public-issue documents filed with SEBI in June 2026 | 2026-2027 | Offer for sale of up to 74.45 lakh equity shares | Mainboard |
Upcoming Manufacturing & Industrial Sector IPOs
Manufacturing and industrial businesses form another part of the current IPO pipeline, with companies operating in engineering, industrial equipment and manufacturing services preparing for potential listings. Investors tracking these IPOs can look at manufacturing capacity, order book, customer concentration, margins, capital expenditure and dependence on key industries.
Yogiji Digi Limited | DRHP filed in July 2026 | 2026-2027 | ₹270 crore fresh issue + offer for sale of up to 71.7 lakh equity shares | Mainboard |
Zetwerk Manufacturing Businesses Limited | Updated draft prospectus filed in August 2026 | 2026 | ₹2,600 crore fresh issue + offer for sale up to 9.6 crore equity shares | Mainboard |
TMC Transformers India Limited | DRHP filed in July 2026 | 2026-2027 | ₹550 crore fresh issue; no offer for sale | Mainboard |
Kanodia Cement Ltd. | Received SEBI approval in October 2025 | Late 2026 | Offer for sale of up to 1.49 crore shares; no fresh issue | Mainboard |
Upcoming Telecom Sector IPOs
The telecom and digital infrastructure segment is set to see one of the largest proposed IPOs in India's 2026 pipeline. The sector includes companies with large customer bases and businesses spanning connectivity, digital services and related infrastructure.
Jio Platforms Limited | DRHP filed with SEBI in June 2026 | 2026 | Approximately ₹37,000 crore; fresh issue of up to 27 crore equity shares, no offer for sale | Mainboard |
Upcoming Infrastructure Sector IPOs
The infrastructure space also has companies preparing to tap the primary market. These businesses operate across warehousing, industrial infrastructure and related services, making factors such as asset utilisation, debt levels, customer concentration and expansion plans important when evaluating their IPOs.
GNI Infrastructure Limited | DRHP filed with SEBI in July 2026 | 2026-2027 | Up to 3.04 crore equity shares; fresh issue of up to 2.1 crore shares + offer for sale of up to 93.8 lakh shares | Mainboard |
Upcoming Aerospace & Defence Sector IPOs
The aerospace and defence sector is another area to watch in the 2026 IPO pipeline. Companies in this space are involved in areas such as drones, defence electronics and related manufacturing. Investors tracking these IPOs can look at order books, customer concentration, government contracts, technology capabilities and regulatory requirements.
Garuda Aerospace Limited | Confidential DRHP filed in August 2026 | 2026-2027 | Proposed issue of around ₹1,000 crore: fresh issue of ₹750 crore and offer for sale of ₹250 crore | Mainboard |
Tonbo Imaging India Limited | DRHP filed; regulatory process underway | 2026 | Offer for sale of up to 1.8 crore equity shares; no fresh issue | Mainboard |
Upcoming Travel & Hospitality Sector IPOs
The current IPO pipeline of 2026 also includes companies in the travel and hospitality sector looking to raise capital for expansion and to strengthen their balance sheets. Investors tracking these IPOs can look at occupancy and demand trends, revenue growth, profitability, asset-light operations and the broader travel environment.
Prism Hotels and Resorts (OYO) | SEBI approval received | 2026 | ₹6,650 crore fresh issue; no offer for sale | Mainboard |
MakeMyTrip (India) Ltd. | Confidential DRHP filed in July 2026 | Early 2027 | To be announced | Mainboard |
Upcoming Retail & Consumer Lifestyle IPOs
The retail and consumer lifestyle segment also has companies moving through the IPO process. These businesses cover organised retail, personal care and consumer-facing products. Investors tracking these IPOs can look at same-store sales, store expansion, private-label contribution, inventory management, brand strength and customer demand.
Ratnadeep Retail Limited | DRHP filed with SEBI in July 2026 | 2026-2027 | ₹400 crore fresh issue + offer for sale of up to 1.48 crore equity shares | Mainboard |
Beauty Garage Limited | DRHP filed with SEBI in August 2026 | 2026-2027 | ₹125 crore fresh issue + 78.36 lakh equity shares for offer for sale | Mainboard |
Purple Style Labs | DRHP filed with SEBI; received approval in January 2026 | August–September 2026 | Fresh issue of up to ₹660 crore; no offer for sale | Mainboard |
Duroflex Ltd. | Received SEBI approval in February 2026 | 2026-2027 | Fresh issue of ₹183.60 crore + offer for sale of up to 2.26 crore equity shares | Mainboard |
Upcoming Fitness Sector IPOs
The fitness and wellness industry too is seeing growing interest in India’s IPO market, with companies expanding across fitness centres, digital fitness platforms and wellness services. When evaluating, investors might consider membership growth, revenue results, profitability, customer retention and the company's strategies for extending its fitness network.
Cult.fit Ltd. | DRHP filed in July 2026 | 2026-2027 | Fresh issue of ₹950 crore + an offer for sale of up to 17.86 crore equity shares | Mainboard |
How To Track Sector-Wise Upcoming IPOs In India?
Investors can narrow down the IPO pipeline by focusing on the sectors they are interested in. The following can help when keeping track of IPOs:
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Sector: Start with the industries you want to follow, such as finance, pharma, technology or jewellery.
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IPO calendars: These usually bring upcoming issues together and often show the company, sector, expected date and issue size.
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Research platforms: Specialised stock research and brokerage platforms may provide sector-wise IPO information along with the latest issue details.
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IPO status: An IPO process has various stages, including the preparation stage, DRHP filing, SEBI approval and RHP stage. So its position in the IPO process is worth noting.
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Latest updates: Keep a check on every IPO-related announcement. IPO details can change closer to the issue date. Dates, issue sizes and the IPO stage may all be updated.
How To Evaluate An Upcoming IPO By Sector?
Before getting into sector-specific factors, start with the company's financials. Revenue and profit are a good starting point, but debt, margins and cash flows deserve a look as well. It also helps to compare these numbers with similar listed companies to see where the company stands.
Valuation is another important part. Compare the P/E ratio and other relevant metrics with its peers. Also look at where the IPO money will go. The DRHP gives details on whether the funds are meant for expansion, debt repayment, working capital or other purposes.
The broader sector trend matters as well. Start with demand and competition, then look at where the industry could be headed and the risks it faces.
For the sectors covered above, some areas deserve particular attention.
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Financial sector: Asset quality, loan growth, capital adequacy, profitability
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Pharma sector: Product portfolio, regulatory approvals, research pipeline, dependence on key products
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Tech sector: Revenue growth, margins, major clients, the scope for further growth
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Jewellery sector: Store expansion, designing capabilities, sales growth, inventory, working capital
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Energy sector: Operating capacity, project pipeline, customer base, profitability, capital requirements
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FMCG sector: Sales growth, product categories, distribution reach, brand strength, margins, working capital
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Manufacturing & industrial sector: Manufacturing capacity, order book, margins, capital expenditure, raw material cost
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Telecom sector: Subscriber base, average revenue per user, network infrastructure, spectrum-related costs
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Infrastructure sector: Asset utilisation, project pipeline, debt levels, expansion plans, order concentrations, order book size
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Aerospace & defence sector: Order book, government contracts, technology capabilities, regulatory requirements
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Travel & hospitality sector: Occupancy and demand trends, revenue growth, profitability, property expansion
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Retail & consumer lifestyle sector: Same-store sales, store expansion, inventory management, brand strength
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Fitness sector: Membership growth, revenue per member, profitability, digital engagement, operating costs
Which Sectors Have The Most Upcoming IPOs In India In 2026?
The IPO pipeline covers a mix of industries. Some sectors, however, have a larger number of companies preparing to enter the market. Looking at the industry categories together gives a broader picture of where the IPO activity is concentrated.
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Manufacturing & Industrial: Includes companies involved in industrial products, textiles, metals, auto components, electrical equipment, cables, packaging and agrochemicals.
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Technology: Covers companies in the software and consulting segment. It also includes businesses providing IT-enabled services.
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Financial Services: Includes businesses from areas such as banking, asset management, NBFCs, fintech and other financial services.
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Consumer & Retail: Covers jewellery and watches, consumer services, dairy, travel and entertainment-related businesses.
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Infrastructure: Normally includes businesses involved in construction, real estate services and road assets.
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Healthcare & Pharma: Covers pharmaceutical companies, hospitals, medical equipment businesses and healthcare service providers.
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Jewellery: Includes jewellery manufacturers, retailers and other businesses operating in the organised jewellery market.
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Energy: Covers businesses involved in natural gas, power, renewable energy and related energy infrastructure.
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FMCG: Includes packaged foods, spices, consumer products and other fast-moving consumer goods businesses.
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Telecom: Covers companies involved in telecommunications, digital connectivity and related digital infrastructure.
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Aerospace & Defence: Covers businesses involved in defence technology, aerospace products, drones, imaging systems and related manufacturing.
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Travel & Hospitality: Includes hotels, travel and hospitality businesses serving India's growing travel and tourism market.
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Fitness & Wellness: Includes fitness centres, digital fitness platforms, wellness services and related consumer health businesses.
Which Sector IPOs Are The Biggest Upcoming IPOs In India In 2026?
Some companies in the IPO pipeline stand out because of their size. The businesses behind these issues are also much larger than many of the other companies preparing to list. A few big upcoming IPOs include:
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Telecom & Technology: Reliance Jio Platforms’ IPO is expected to be one of the biggest IPOs in 2026. The company has a large presence in India's telecom and digital services market.
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Financial Services: NSE IPO is one of the major names in the financial-services sector. Its proposed IPO is expected to be one of the larger issues in the 2026 pipeline.
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Quick Commerce & E-commerce: Zepto IPO is another company in the pipeline. The company operates in India's growing quick-commerce market.
The content in this blog is intended purely for educational purposes. Any securities or mutual funds referenced are illustrative in nature and do not constitute a recommendation or endorsement by Kotak Neo. Investors are encouraged to assess their own financial situation and seek professional advice before making any investment decisions. For compliance T&C and disclaimers, Visit https://www.kotakneo.com/disclaimer
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