Financial services companies achieved record fundraising in FY26, raising ₹49,795 crore through IPOs, the highest in a decade. According to The Economic Times, this surpassed the ₹42,283 crore mobilized over the previous six years combined. Financial services companies accounted for 28% of the ₹1.8 lakh crore raised by 109 mainboard firms in FY26, marking the strongest year ever both in terms of the number of issuances and total proceeds, which increased 9% year-on-year. Despite a struggling finance sector index, these new listings significantly boosted the primary market, with major IPOs from Tata Capital and HDB Financial Services leading this surge.
The year's two largest IPOs were from the finance sector: Tata Capital raised ₹15,512 crore and HDB Financial Services collected ₹12,500 crore. As reported by The Economic Times, together with ICICI Prudential AMC (₹10,603 crore) and Groww (₹6,632 crore), these four companies accounted for 26% of the total IPO mop-up. The other significant IPOs during FY26 included LG Electronics (₹11,607 crore), Lenskart Solutions (₹7,278.8 crore), and Meesho (₹5,421 crore). These major listings demonstrated the sector's resilience in attracting investor interest despite challenging market conditions.
Despite the strong IPO performance, the BSE Financial Services index slipped over 1% while the Sensex fell nearly 5% during the year, weighed down by concerns over the conflict in West Asia. According to The Economic Times, this highlights the sector's role in sustaining primary market momentum despite weak secondary market sentiment. The top 10 IPOs collected ₹81,063 crore, forming 46% of the total IPO kitty in FY26, compared to 57% in FY25, showing the concentration of fundraising among major financial services companies. The sector's ability to buck the broader market trend demonstrates its continued attractiveness to investors.
Apart from financial services, major sectors that raised IPO money in FY26 included consumer durables (₹17,522.9 crore), capital goods (₹10,740.3 crore), and fast-moving consumer goods (₹9,374.5 crore). As reported by The Economic Times, the total sample covers companies listed between April 2025 and March 2026 across the NSE and BSE main boards. The strong performance of financial services IPOs helped drive overall primary market momentum despite challenging secondary market conditions, with the sector demonstrating resilience in attracting investor interest and significantly outperforming other major sectors.
