Global economic uncertainty and volatility in equity markets resulted in a relatively subdued initial public offering (IPO) market at the start of 2026. However, a pipeline of large and high-profile IPOs is building, with companies across telecom, fintech, e-commerce, quick commerce, and stock exchange sectors preparing to enter the market.
Market activity in early 2026 remained muted due to heightened global uncertainty and continued fluctuations in stock markets, which weighed on investor confidence. Despite this slowdown, several major companies are advancing plans to launch IPOs in the coming months.
Investor attention is increasingly focused on a set of anticipated large IPOs that have been under discussion for an extended period.
Reliance Jio Platforms IPO Progress
Reliance Jio Platforms, one of India’s largest digital and telecom companies led by Mukesh Ambani, continues to draw significant attention in IPO discussions. The company has played a central role in expanding data and digital services in India. Management has recently indicated that progress toward an IPO is accelerating.
According to reports, the IPO is expected in the second half of financial year 2027 (FY27). Investor expectations remain elevated given the company’s extensive user base and established revenue model.
National Stock Exchange of India IPO Developments
The IPO of the National Stock Exchange of India has been under consideration for an extended period, with repeated delays due to regulatory hurdles. Recent developments indicate renewed progress, including the completion of the expression of interest (EOI) process for an offer for sale (OFS). A specific timeline for the IPO has not yet been announced.
PhonePe IPO Status
PhonePe has received approval from the Securities and Exchange Board of India (SEBI) to raise approximately Rs 12,000 crore through an IPO. Despite the approval, the company has deferred its listing plans, citing market conditions and strategic considerations, and is awaiting an appropriate window for launch.
Zepto IPO Filing
Zepto, operating in the quick commerce segment, has confidentially filed its draft IPO papers and received preliminary approval. The company’s expansion in online grocery delivery and growing popularity among younger consumers position it as a potential high-growth listing candidate.
Flipkart IPO Preparation
Flipkart is also preparing for an IPO and has recently relocated its legal headquarters from Singapore to India, a move considered significant for its listing plans. While an official launch date has not been disclosed, market experts indicate that the IPO could take place in or around 2026.
The anticipated entry of these large IPOs is expected to influence activity in the Indian equity market. According to experts, if global economic conditions stabilize, these listings could offer improved return potential for investors.
