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  1. Upcoming IPOs: Why Jio, NSE, Zepto and SBI MF plan to bring their IPOs in second half of 2026?

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Upcoming IPOs: Why Jio, NSE, Zepto and SBI MF plan to bring their IPOs in second half of 2026?

SUMMARY

June 2026 saw several corporate heavyweights like Jio Platforms, NSE and Zepto file their DRHP for IPO approval. Know the key factors why there is a sudden spike in high-profile IPOs in the second half of 2026.

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June 2026 saw a sudden flurry of DRHP filings of NSE, Jio Platforms and Zepto. | Image: Shutterstock

Jio Platforms IPO and NSE IPO are two of the most-awaited public issues of 2026. Last week, both companies filed their official Draft Red Herring Prospectuses (DRHPs) with the market regulator, SEBI, for approval.

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NSE IPO is expected to raise around ₹30,000 crore ($3.1 billion), while Jio Platforms IPO could be the biggest IPO in India, with an estimated issue size of around ₹37,000 crore ($3.9 billion). Both the NSE and Jio Platforms IPO are high-profile issue which together could plan to raise over $7 billion.

In the first half of 2026, IPO activity slowed down significantly as only 26 mainboard IPOs successfully listed on the domestic stock exchanges, out of which four issues were either REITs or Infrastructure Investment Trust (InvIT). However, in June 2026, six companies have lined up their IPOs.

June 2026 saw a sudden flurry of DRHPs filings. Before NSE and Jio Platforms, Zepto filed its updated DRHP for SEBI approval and plans to raise ₹8,010 crore via fresh issue. Besides this, SBI Funds Management, which manages SBI Mutual Fund, has also received IPO approval to raise ₹13,000 crore ($1.3 billion).

Amid these IPO filings and approvals, one question remains for investors. Why are corporate heavyweights and hyper-growth startups striking all at once to bring their IPOs? Here is the answer to it

Key factors driving IPO launches in the second half of 2026

Ease in market uncertainty and volatility: The first half of 2026 was marked by geopolitical uncertainties from the US-Iran war, which led to significant market volatility. Benchmark NIFTY50 index is down over 7.5%, while SENSEX is down over 9% so far in 2026.

Besides this, many recently listed companies have delivered muted or negative post-listing returns, impacting investors' sentiments and forcing companies to delay offerings.

However, in June 2026, the markets saw some bounce back after the US-Iran reached a peace deal, while crude oil prices eased from record levels. NIFTY and SENSEX rose nearly 3% each. This ease in uncertainty and market volatility may have prompted companies to take advantage and bring their IPOs.

Massive IPO backlog: Due to market uncertainty, many companies have delayed their IPOs even after receiving SEBI approval. According to the Economic Times reports, more than 200 companies are preparing to go public in the second half of 2026. As many as 173 companies had received the SEBI approval to raise around ₹2.7 lakh crore through IPOs until June 19, while another 64 companies, which plan to raise ₹1.95 lakh crore, are awaiting regulatory clearance.

Experts believe successful listing of upcoming issues and revival of the primary market is crucial in setting the tone for the rest of the year, especially for large and high-profile listings like Zepto, NSE and Jio Platforms.

Value-unlocking opportunity: Listing on the stock exchanges could be a value-unlocking opportunity for many corporate heavyweights and their shareholders. For example, Jio Platforms is part of a larger Reliance Industries group, and a separate listing could help bring a new set of investors, and the company will also get its standalone valuation.

Similarly, SBI Mutual Fund is a key subsidiary of the State Bank of India (SBI) and part of the SBI Group financial ecosystem.

Upcoming IPOs in the second half of 2026

CompanyCurrent IPO status
Zepto IPOFiled updated DRHP to raise ₹8,010 crore via fresh issue. IPO likely to launch in July 2026
NSE IPOIPO draft papers filed with SEBI for approval
Reliance Jio IPOIPO draft papers filed with SEBI for approval
Hindustan Coca-Cola HoldingsParent company Coca-Cola plans to list its largest bottler in India in 2027. Investment bankers appointed
SBI Mutual Fund IPOReceived SEBI approval for the IPO, issue to launch soon
RazorpayThe company has filed confidential draft papers with SEBI to raise $500 to $600 million
Flipkart IPOThe company has shifted its legal domicile from Singapore to India to align with local regulations. In the process of filing the DRHP
PhonePe IPOThe company had temporarily paused its IPO plans due to geopolitical uncertainties and market volatility.

Disclaimer:

This article is only for educational purposes and not a buy or sell recommendation. Investors are advised to conduct their own analysis and risk due diligence before trading and investing in the stock market. Investments in the securities market are subject to market risk. Read all the related documents carefully before investing.

About The Author

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Sreenivas Ajankar is a Deputy Editor at Upstox and has over nine years of experience in capital markets. His areas of expertise include equity research, analysis and business valuation.

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