Upcoming Financial Sector IPOs in India 2026

From fintechs, Non-Banking Financial Companies (NBFCs) to digital payments and lending platforms, the financial services sector in India will witness a busy Initial Public Offering (IPO) pipeline in 2026.

The country’s financial services industry continues to grow on the back of rising credit demand, digital adoption and greater financial inclusion.

The accounting and professional services market alone is estimated at ₹1.47 lakh crore in 2026 and is expected to reach ₹1.82 lakh crore by 2031, according to IBEF.

With several companies filing IPO documents and receiving Securities and Exchange Board of India (SEBI) approval, here’s a look at the financial services companies planning to go public.

List Of Upcoming Financial Services IPOs In India 2026

The following companies have filed IPO documents or have received SEBI approval. The final IPO date, price band and other issue details will be announced closer to the launch.

Veritas Finance IPO

Veritas Finance is an NBFC focused on meeting the financing needs of micro, small and medium enterprises. Its lending portfolio includes micro business loans, small business loans, working capital loans and used commercial vehicle loans. The company also provides home loans and loans against property, serving customers across semi-urban and rural markets.

Credila Financial Services IPO

Credila Financial Services is an education-focused NBFC providing education loans to Indian students pursuing higher education in India and overseas. Its financing solutions cover STEM, MBA, undergraduate, professional, diploma, certificate and technical programmes. The company focuses on helping students access financing for higher education and related academic opportunities.

Hero FinCorp IPO

Hero FinCorp is an NBFC and the financial services arm of the Hero Group. It provides retail financing products including two-wheeler loans, personal loans and used-car loans. The company also offers financing to corporate and SME customers, delivering finance to the borrowers through its network across different markets in India.

Asset Reconstruction Company (India) IPO

Asset Reconstruction Company (India), or Arcil, is an asset reconstruction company focused on resolving stressed assets in the financial system. It acquires non-performing assets from banks and financial institutions and works towards their resolution and recovery.

PhonePe IPO

PhonePe is a technology company operating across digital payments, financial services and digital distribution. Its offerings include consumer and merchant payments, lending and insurance distribution, along with investment and other digital platforms.

Shah Investor’s Home IPO

Shah Investor’s Home is a retail broking firm offering equity and derivatives brokerage services. Its portfolio also includes IPO investing, mutual fund distribution and other securities-related services. The company serves resident and non-resident Indian customers and has more than three decades of experience in providing brokerage and related financial services.

InCred Holdings IPO

InCred Holdings is a diversified financial services group with businesses across retail and MSME lending, institutional and wealth management and digital investment platforms. It provides financial solutions to individuals, businesses and institutional customers.

Truhome Finance IPO

Truhome Finance, formerly known as Shriram Housing Finance, is an affordable housing finance company serving low- and middle-income customers. It provides housing finance solutions to salaried and self-employed borrowers across multiple states in India.

Moneyview IPO

Moneyview is a digital financial services platform offering a range of products through its technology-led platform. Its offerings include personal and business loans, credit cards, expense management and UPI payments. The company uses technology and data-driven solutions to make financial products accessible to customers.

Svatantra Microfin IPO

Svatantra Microfin is a technology enabled microfinance institution that provides credit services to financially underserved customer segments in rural and semi-urban areas. The company offers access to financial services through technology-enabled systems by providing microfinance and income generating loans.

Muthoot FinCorp IPO

Muthoot FinCorp is a non-banking financial company offering a range of financial products, with a strong focus on gold loans. Its portfolio also includes small business loans, two-wheeler loans and microfinance products.

IFL Finance IPO

IFL Finance is a non-deposit-taking NBFC focused on secured retail lending. Its portfolio includes gold loans, home loans, loans against property and other secured financing products for retail and business customers.

Social Worth Technologies IPO

Social Worth Technologies operates as a non-banking financial company engaged in providing financial solutions through its lending business. The company focuses on offering credit and related financial services to customers. Its operations are centred on expanding access to financial products while using its lending platform to serve customers across different segments.

Arohan Financial Services IPO

Arohan Financial Services is a technology-enabled NBFC-MFI providing income-generating loans and other financial inclusion products. The company primarily serves underserved and unserved customers in rural and semi-urban areas.

Paramotor Digital Technology IPO

Paramotor Digital Technology is a fintech company focused on consumer spend management, rewards, loyalty programmes and digital gifting. It acts as a programme manager for prepaid payment instruments and distributes merchant gift cards. Its RewardOn platform provides corporate customers with digital solutions to design, manage, distribute and redeem rewards and incentives.

What To Look For In Financial Services IPOs

Before investing in a financial services IPO, it helps to look beyond the issue size and understand the business a little better.

• To understand how the business has been doing and how it has been growing, look at the company’s loan book, Assets Under Management (AUM) and revenue growth.

• The best indicators of asset quality for lending companies are Non-Performing Assets (NPAs), credit costs and provisioning.

• It is also useful to compare profits, Return on Equity (ROE) and Return on Assets (ROA) to better understand how efficiently the company is using its capital.

• A healthy capital position is important, especially for NBFCs, as it can support future growth and provide a cushion against potential losses.

• For fintechs, customer growth, transaction volumes and the strength of the technology platform can be better indicators of how the business is scaling.

• Also consider the level of diversification of the company in terms of products, customers and regions, which can reduce its dependence on a single market.

• Finally, check how the IPO is structured. Look at how much is being raised through a fresh issue and how much is being offered by existing shareholders through an OFS.

• Compare the IPO valuation with the company’s earnings, book value, growth and listed peers.

• Understand how the company plans to use the funds raised, whether for lending, expansion, technology or other business needs.

Conclusion

The upcoming financial services IPO pipeline reflects the changing landscape of India’s financial sector. The list includes traditional NBFCs and microfinance institutions as well as fintechs, digital payment platforms, housing finance companies and other technology-led financial businesses.

However, an IPO should not be judged simply by the company’s brand, sector or growth story. Investors should also consider its financial performance, asset quality, loan book, profitability, debt levels, valuation and how the funds raised will be used. Comparing these factors can help investors get a clearer picture of the company before making an investment decision.