From Reliance Jio to Zepto: 5 Major IPOs Investors Should Watch in 2026

After a strong showing in 2025, India’s primary markets are heading into 2026 with a robust pipeline of high-profile initial public offerings (IPOs). From established digital giants to fast-growing startups, several marquee names are preparing to tap Dalal Street, signalling sustained investor confidence and favourable market conditions.

Market watchers expect 2026 to be one of the busiest IPO years in recent times, provided volatility remains under control and regulatory clearances progress smoothly.

Reliance Jio Platforms

Reliance Jio Platforms is widely expected to be the biggest IPO of 2026. Valued at an estimated ₹11–12 lakh crore, the telecom and digital services major could launch one of the largest public offerings in Indian market history. The company is reportedly preparing draft papers and may target a listing in the first half of the year, subject to approvals. Given its dominance in telecom and expanding digital ecosystem, the IPO is expected to attract strong domestic and global investor interest.

Flipkart

Walmart-backed Flipkart is also likely to make its public market debut in 2026. Reports suggest the e-commerce giant is targeting a valuation of $60–70 billion. In the run-up to the IPO, Flipkart has significantly narrowed its losses in FY25, reflecting improved operational efficiency and a sharper focus on profitability.

OYO

Hospitality platform OYO has moved closer to listing after shareholders approved plans to raise up to ₹6,650 crore through a fresh equity issue. While the IPO timeline remains dependent on regulatory clearance and market conditions, investors will closely watch how the company positions its growth and profitability narrative ahead of the offering.

PhonePe

Digital payments leader PhonePe is preparing for an IPO that could raise between $1.2 billion and $1.5 billion through a mix of fresh issue and offer for sale. The company is reportedly aiming for a valuation of around $15 billion. With a strong footprint in India’s UPI and digital payments ecosystem, PhonePe’s listing is expected to be one of the most tracked tech IPOs of the year.

Zepto

Bengaluru-based quick commerce startup Zepto is another major name in the 2026 IPO pipeline. Known for its 10-minute grocery delivery model, the company plans to raise ₹4,000–4,440 crore through a combination of fresh issue and offer for sale. The IPO is aligned with Zepto’s expansion and scale-up strategy amid intense competition in the quick commerce segment.

What investors should watch

All IPO timelines and valuations remain subject to market sentiment and regulatory approvals. Investors are advised to track official filings with the Securities and Exchange Board of India (Sebi) and disclosures made by the companies for updated details.

The presence of multiple large and consumer-facing companies in the pipeline reflects growing corporate confidence and improving market depth. If these listings proceed as expected, 2026 could emerge as a landmark year for India’s IPO market, drawing strong participation from retail, institutional and global investors.