All roads lead to Dalal Street: 2025 was year of IPOs; 2026 set to be bigger

India’s primary market is poised for a record-breaking 2026, with an estimated $31 billion in IPOs expected. Building on a strong 2025, this surge is driven by digital economy platforms, financial infrastructure, and scaled consumer businesses. Companies like Jio Platforms, NSE, and PhonePe are anticipated to lead the charge, signaling a maturing market focused on profitability and reasonable pricing.