India's primary market has staged a sharp comeback after a quiet start to the fiscal year, with companies raising a record Rs 94,205 crore through mainboard IPOs in the first half of 2026-27, helped by a surge in activity from August and a strong September rush. The first few months of the year were muted. Fundraising in the first three months stood at just Rs 3,794 crore, according to PRIME Database, even as secondary markets remained volatile through much of the period.
Activity picked up from August, when IPO fundraising crossed Rs 20,000 crore, and accelerated further in September, when mobilisation topped Rs 40,000 crore. The late surge helped 78 Indian companies raise Rs 94,205 crore through main board IPOs in April-September, 35% higher than the previous first-half record of Rs 69,533 crore raised by 65 IPOs in the same period last year.
