Table of Contents
Summary
Reliance Jio: DRHP filed, fresh issue, listing expected August to October 2026
NSE: DRHP filed, fresh issue, timeline pending
Zepto: confidential filing, timeline pending
OYO: UDRHP filed, fresh issue, listing expected second week of August 2026
Flipkart: pre-DRHP, listing pushed to late 2026 or early 2027
PhonePe: filed but paused since March 2026, status uncertain
SBI Mutual Fund: already listed as of July 2026, no longer upcoming
We keep this list updated as filings progress, so treat this page as your current source rather than an older article that may already be out of date.
A Quick Correction Before We Start
One name still shows up on almost every 2026 IPO list you’ll find online, and it needs a correction right away. PhonePe actually filed its official IPO papers back in January 2026, but the company paused the entire listing in March 2026, and there has been no confirmed update since. If you’re reading a list that still describes PhonePe as coming soon without mentioning this, that list has not been checked recently.
This is exactly why a page like this needs to stay current, not just get written once and left online. Below is the real, corrected status of every major IPO worth watching in India this year, along with the ones that have already come and gone.
Which Upcoming IPOs in India Are Worth Watching in 2026
OYO, Reliance Jio, NSE, Zepto, and Flipkart are among the most closely watched names heading into the rest of 2026, alongside PhonePe, whose listing is currently paused, and SBI Mutual Fund, which has already completed its listing. Together these names cover almost every major sector of India’s economy, telecom, financial market infrastructure, quick commerce, hospitality, e-commerce, and fintech, making 2026 one of the most significant years for the Indian IPO market in recent memory.
Reliance Jio: India’s Potentially Biggest Ever IPO
Reliance Jio is the name generating the most attention on this entire list, and for good reason. Jio Platforms filed its DRHP with SEBI on June 19, 2026, for a fresh issue of roughly ₹37,700 crore, at an estimated valuation of around $137 billion, with listing expected sometime between August and October 2026.
This is a fresh issue IPO, meaning the money raised goes directly into the company rather than to existing shareholders. If this listing goes through at anywhere close to its current target, it would rank among the largest IPOs India has ever seen.
NSE: The Exchange Itself Is Going Public
There is something genuinely interesting about this one. The National Stock Exchange, the very platform where most Indian IPOs eventually list, is preparing to list itself. NSE filed its DRHP around the same time as Jio, with an expected issue size of roughly ₹30,000 crore. Together, Jio and NSE represent two of the biggest listings anchoring the entire second half of 2026.
Zepto: Quick Commerce’s Big Public Market Test
Zepto has become one of the most talked about names in India’s quick commerce race, and its IPO will be a real test of how public markets value ultra fast delivery businesses. The company has filed its papers confidentially, targeting a pre-IPO valuation of around $7 billion, though its formal public DRHP has not been filed yet.
OYO: The Hospitality Comeback Story
OYO’s parent company filed its Updated Draft Red Herring Prospectus publicly on June 30, 2026, targeting a fresh issue of ₹6,650 crore with no offer for sale, at an expected valuation of $7 to 8 billion. The listing is currently expected around the second week of August 2026.
OYO’s story is genuinely one of the more dramatic ones in this entire list, since the company’s own investors valued it at just 2.4 billion dollars in a private round only eighteen months before this filing. We track OYO’s date, price band, and valuation in real time on our dedicated OYO IPO tracker, and if you want the full picture, we have also covered its profitability turnaround, its comparison against Indian Hotels, how it actually makes money, why most of its IPO money is going toward debt, whether its valuation is justified, and how to actually read its IPO documents before applying.
Flipkart: Coming Home Before Coming to Market
Flipkart took a big structural step earlier this year. The company completed its re-domiciliation from Singapore back to India in March 2026, and is now preparing to file its DRHP later in the year, with listing now expected in late 2026 or early 2027. Reported fundraise estimates range between 8 and 10 billion dollars, and the company is also reportedly exploring a smaller pre-IPO funding round before that.
Since moving its legal base back to India is a prerequisite for listing on Indian exchanges, this timeline shift makes sense, but it also means Flipkart is genuinely earlier stage than some other names still getting grouped alongside it on 2026 watchlists.
PhonePe: The IPO That Paused Mid Process
This is the correction that matters most on this entire page.
PhonePe filed its UDRHP with SEBI on January 21, 2026, targeting roughly ₹12,000 crore, structured entirely as an offer for sale, meaning existing shareholders including Walmart, Microsoft, and Tiger Global would be selling their shares, with zero fresh capital going to the company itself. At the time, this looked like one of the most certain, well advanced IPOs on the entire 2026 calendar.
Then, PhonePe paused its listing plans in March 2026, citing geopolitical volatility, and no new date has been confirmed since. Reported valuation estimates for PhonePe have also shifted meaningfully since the pause, moving from an earlier target closer to 15 billion dollars down toward a range closer to 9 to 10.5 billion dollars in more recent reporting.
If you see PhonePe described as an imminent 2026 listing anywhere else, treat that with real caution, since the most current, verifiable status is that its IPO is on hold.
SBI Mutual Fund: Already Listed, No Longer Upcoming
This one needs a direct correction too, since it still appears on plenty of upcoming IPO lists. SBI Funds Management’s IPO actually opened on July 14, 2026, closed on July 16, and the shares listed on both BSE and NSE on July 21, 2026, after being subscribed more than 41 times overall. If you are tracking this name specifically, its IPO is complete, not upcoming.
Also Worth Watching
A few more names round out the 2026 lineup, each at an earlier stage than the ones above.
Tata Play continues to appear on industry watchlists but has no confirmed DRHP filing yet. boAt’s parent company, Imagine Marketing, has filed an updated DRHP for a ₹1,500 crore issue, split between a ₹500 crore fresh issue and ₹1,000 crore offer for sale. Hero FinCorp is preparing a ₹3,668 crore IPO in the NBFC lending space.
Fresh Issue vs Offer for Sale: Why This Matters for Every Name Above
Here is something worth understanding before you get excited about any IPO on this list, since it changes what the listing actually means.
A fresh issue means the company itself receives the money raised, which it can use for growth, debt repayment, or general business needs. An offer for sale means existing shareholders are simply selling some of their shares to the public, and the money goes to those shareholders, not the company.
This distinction matters a lot here. Jio, NSE, and OYO are structured as fresh issues, meaning the companies themselves benefit directly from the money raised. PhonePe, by contrast, is entirely an offer for sale, meaning if that IPO eventually goes through as currently structured, none of the money will go toward PhonePe’s own growth, it will all go to Walmart, Microsoft, and Tiger Global as they exit part of their stakes. Knowing this upfront helps you understand what you are actually funding when you apply for any of these issues.
Why Are So Many Big IPOs Happening at Once in 2026
You might be wondering why so many massive companies are all rushing to list around the same time. Two things are driving this. A genuinely stronger primary market recovery through 2025 and into 2026 has made investors more willing to absorb large, high profile listings.At the time the Securities and Exchange Board of India or SEBI for short made it easier for really big companies like Jio and the National Stock Exchange or NSE to list on the stock market.
This means that huge companies like Jio and NSE do not have to sell much of their company to go public.
This makes it a lot more attractive, for the people who started these companies the founders and the people who already own shares the existing shareholders because they can keep control of Jio and NSE.
Put those two things together, and you get exactly what is happening right now, a genuine wave of major names all converging on the same narrow window instead of spreading out evenly across the year.
Frequently Asked Questions
Which upcoming IPOs in India are worth watching in 2026?
OYO, Reliance Jio, NSE, Zepto, and Flipkart are among the most closely watched names, while PhonePe’s listing is currently paused and SBI Mutual Fund has already completed its IPO.
Is PhonePe’s IPO still happening?
PhonePe filed its official IPO papers in January 2026 but paused the listing in March 2026 citing geopolitical volatility. No new date has been confirmed since, so its status remains uncertain.
What is the biggest IPO expected in India in 2026?
Reliance Jio’s IPO is expected to be the largest, with a targeted fresh issue of roughly ₹37,700 crore at an estimated valuation of around $137 billion.
Is SBI Mutual Fund’s IPO still upcoming?
No. SBI Funds Management’s IPO listed on both BSE and NSE on July 21, 2026, so it is no longer an upcoming listing.
When is Flipkart’s IPO expected?
Flipkart has not yet filed its DRHP. After completing its re-domiciliation to India in March 2026, the company is now expected to list in late 2026 or early 2027.
Want the Full Picture on Any of These Companies
This page gives you the current status across every major 2026 IPO, but if you want real depth on any single name, start with OYO, since it’s the one company on this list with a complete, dedicated breakdown on our site. Track its live date and valuation on our OYO IPO tracker, and dig deeper into its financials, growth story, debt, and valuation through our full OYO IPO coverage.
For more updates as these listings move forward, keep following Listing Updates.
This page is updated regularly and is meant for informational purposes only. It does not constitute investment advice. Please refer to official company filings and consult a financial advisor before making any investment decisions.
