Initial Public Offerings (IPOs) usually attract strong attention in the market because they give investors an opportunity to participate in a company’s growth story after it goes public. Sometimes, the interest comes from the company’s business performance or brand value. In other cases, strong momentum in a particular sector brings the IPO into focus.
Hence, many investors begin tracking upcoming IPOs well before the listing date. They often follow factors like company growth, financial performance, and sector outlook quite closely. Investors also assess valuation expectations and broader market sentiment before deciding whether the IPO looks attractive or not.
In 2026 as well, several companies across fintech, consumer technology, healthcare, infrastructure, and digital businesses are expected to stay on investors’ radar as IPO activity continues to attract market attention.
Why Do Investors Track Upcoming IPOs?
A lot can change between an IPO announcement and the actual listing day. That is why many investors prefer tracking these companies much earlier instead of waiting until the last moment.
For some, the focus is mainly on listing gains and short-term market buzz. Other investors use the IPO phase to understand the business in more detail. They may spend time studying the company’s financial performance, sector outlook, business model, and expansion plans before taking a call.
There is also a planning aspect involved. Investors who track upcoming IPOs earlier usually get more time to prepare financially instead of making rushed decisions once the IPO opens.
Upcoming IPOs In India To Watch In 2026
Some IPOs attract attention because of the company’s scale. Others stay in focus because of the sector they operate in, or the kind of growth investors expect from the business going forward.
Investors usually keep track of such upcoming IPO announcements through DRHP and RHP filings published on SEBI, financial news platforms, and brokerage platforms like Kotak Neo.
Here are a few upcoming IPOs that may remain under investor watch in 2026.
M R Maniveni Foods IPO
M R Maniveni Foods Limited’s SME IPO will open on 22 May 2026 and close on 26 May 2026. The price band has been fixed at ₹51 to ₹52 per share.
Founded in 2010 by KR Manikandan, the company trades pulses and rice across Kerala and other southern states. It also specialises in the manufacturing and processing of Urad Dal and Tur Dal.
For FY25, the company reported revenue of around ₹203 crore and profit after tax of nearly ₹3.8 crore.
Reliance Jio IPO
The Reliance Jio IPO continues to remain one of the most closely watched IPO discussions in India. According to reports, the IPO is expected to be worth over ₹37,500 crore and could arrive either in late 2026 or early 2027. The official dates are yet to be confirmed.
Launched in 2016, Reliance Jio transformed India’s digital and telecom landscape within a short period. Today, the platform serves more than 500 million subscribers across connectivity and digital service businesses.
For FY26, the company reported revenue of around ₹1,46,885 crore and net profit of nearly ₹30,049 crore.
National Stock Exchange (NSE) IPO
The National Stock Exchange of India IPO continues to remain closely watched by the market. NSE is expected to file its DRHP around mid-2026, while the IPO may arrive later in the year.
Founded in 1994, NSE was India’s first electronic stock exchange and has grown into one of the world’s largest exchanges over time. Reports suggest the IPO could raise nearly ₹21,000–25,000 crore through an offer for sale.
For FY25, the exchange reported revenue of around ₹17,141 crore and profit after tax of nearly ₹12,188 crore.
Zepto IPO
The Zepto IPO is expected to arrive in the second quarter of 2026. Reports suggest the company may raise around ₹11,000–12,000 crore through a combination of fresh issue and offer for sale.
Founded in 2021 by Aadit Palicha and Kaivalya Vohra, Zepto operates in India’s quick commerce space and delivers products across categories ranging from groceries to electronics and apparel.
For FY25, the company reported revenue of around ₹11,110 crore.
PhonePe IPO
PhonePe filed its DRHP in 2026, although the IPO timeline is yet to be announced officially. Reports suggest that its IPO process is currently paused due to geopolitical tensions.
Founded in 2015, the platform went live in 2016 and was acquired by Flipkart in the same year. In addition to digital payments, PhonePe has also expanded into insurance, lending, wealth, and other consumer technology businesses.
For FY25, the company reported revenue of around ₹7,115 crore. Net loss for the same period stood at nearly ₹1,727 crore.
Duroflex IPO
Duroflex filed its DRHP in October 2025, although the IPO dates are yet to be announced. The issue will comprise both a fresh issue and an offer-for-sale component.
With over 60 years in the sleep solutions segment, Duroflex operates across mattresses, furniture, hospitality, healthcare, and institutional sleep products. The company has built strong visibility in India’s organised mattress and comfort solutions market over the years.
For FY25, the company reported revenue from operations of around ₹1,134 crore. Profit after tax stood at ₹47.16 crore.
Dhoot Transmission IPO
Bain Capital-backed Dhoot Transmission recently received SEBI approval for its IPO, although the dates are yet to be announced.
Founded by Rahul Dhoot over two decades ago, the company manufactures wiring harnesses, automotive switches, sensors, connectors, battery packs, and other auto component products. It supplies to OEMs across the automotive and consumer durables sectors.
The IPO is expected to raise nearly ₹2,258 crore through a mix of fresh issue and offer for sale.
For FY25, the company reported revenue of around ₹2,960 crore.
Horizon Industrial Parks IPO
Horizon Industrial Parks has filed for an IPO comprising an entirely fresh issue of around ₹2,600 crore.
The company operates industrial and logistics infrastructure across India, including fulfilment centres and in-city logistics facilities. Its portfolio currently spans 58 million sq. ft. across multiple cities.
For FY25, the company reported revenue of around ₹359 crore, while losses narrowed to nearly ₹131 crore during the same period.
Surgiwear IPO
Surgiwear has filed its DRHP, although the IPO dates are yet to be announced. The proposed issue comprises a fresh issue of shares worth up to ₹370 crore, along with an offer-for-sale component of a similar size.
Surgiwear was started in 1982 by Dr G.D. Agrawal. The company operates in the medical devices space. Its products include surgical consumables, silicone implantable devices, and bone grafting products.
Over the years, the business has also expanded into both domestic and international markets through its distribution network.
For FY25, the company reported revenue of around ₹224 crore. Profit after tax stood at nearly ₹57.9 crore.
Key Things To Check Before Applying For IPOs
IPO discussions can sometimes create strong market buzz within a short period. Even then, many investors prefer looking at a few important factors before making a decision.
Some of the things investors usually check include:
- The company’s revenue growth and profitability over recent years
- Whether the sector is seeing strong demand or expansion
- Valuation expectations compared to listed peers
- The company’s future growth and expansion plans
- Overall market sentiment closer to the IPO period
- Listing gain expectations versus long-term investment potential
- Whether the investment comfortably fits their financial planning and risk appetite
Conclusion
Discussions around upcoming IPOs usually remain active throughout the year, especially around companies operating in sectors that continue attracting market attention.
At the same time, IPO investing decisions are rarely based only on market excitement. A lot of investors prefer understanding the business, tracking developments gradually, and assessing whether the opportunity fits their financial goals and comfort level before applying.
