India's primary market is set to regain momentum in July with over a dozen companies planning to raise approximately ₹45,000 crore through initial public offerings. According to reports from The Economic Times, the largest issue is expected from SBI Funds Management at ₹12,000-13,000 crore, followed by Manipal Health Enterprises at around ₹11,000 crore and Zepto at ₹8,000 crore - a combined size of about ₹32,000 crore. The IPO pipeline includes companies across sectors fast-tracking listing plans as market conditions have turned favorable with benchmark indices holding firm after a bout of volatility.
June 2026 witnessed a significant surge in high-profile IPO filings with Jio Platforms and NSE both filing their Draft Red Herring Prospectus (DRHP) with SEBI for approval. As reported by Upstox, Jio Platforms IPO could be the biggest IPO in India with an estimated issue size of around ₹37,000 crore ($3.9 billion), while NSE is expected to raise around ₹30,000 crore ($3.1 billion). These two major offerings, together with Zepto's updated DRHP filed to raise ₹8,010 crore via fresh issue, represent over $7 billion in potential IPO activity. SBI Funds Management has also received SEBI approval to raise ₹13,000 crore ($1.3 billion).
The primary market activity will remain muted in the final week of June and opening week of July, with only two mainboard IPOs scheduled to open for subscription. According to Essential Business Intelligence, textile manufacturer Aastha Spintex Ltd. and packaging solutions provider Knack Packaging Ltd. will launch their public issues between June 29 and July 3. Aastha Spintex will open its ₹170 crore IPO for subscription on June 29 with shares priced in a band of ₹125 to ₹136 per equity share, while Knack Packaging will open its ₹440 crore IPO on July 1 with shares priced at ₹161-170 per share. In the SME segment, around nine public issues will hit the primary market during the same period.
Advit Jewels has emerged as one of the biggest subscription successes this month, achieving an overall subscription of 212.48 times. The jewellery maker's IPO was priced at ₹130-138 per share with a lot size of 100 shares, raising an issue size of ₹165.16 crore. Following the successful allotment expected around June 30, the Advit Jewels IPO listing is scheduled for July 1 on both BSE and NSE. This exceptional response demonstrates strong investor confidence in the jewellery sector's growth prospects.
CSM Technologies has completed its IPO process, raising ₹145.78 crore through shares priced at ₹107-113 per share. The company operates in the GovTech and digital transformation space, providing e-governance solutions with an order book of ₹357.63 crore as of March 2026. The CSM Technologies IPO allotment is expected on June 30, with shares likely to debut on BSE and NSE on July 2. Other notable listings include Waterways Leisure Tourism and Aastha Spintex, with the former expected to make its debut on July 1 alongside Advit Jewels, making it one of the busiest listing days for the primary market this week.
The surge in IPO filings comes after a challenging first half of 2026, where only 26 mainboard IPOs successfully listed on domestic stock exchanges, with four being REITs or Infrastructure Investment Trusts. According to Upstox, the recent market recovery following the US-Iran peace deal and easing crude oil prices has provided the catalyst for companies to proceed with their public offerings. NIFTY and SENSEX rose nearly 3% each in June 2026, reducing uncertainty and market volatility that had previously forced companies to delay their IPO plans. This improved market sentiment has prompted corporate heavyweights and hyper-growth startups to take advantage of the favorable conditions for their public listings.
