The Anthropic IPO can raise up to $64.35 billion, which is about ₹6.06 lakh crore at today's rate of ₹94.20 per dollar. This one IPO is almost equal to the total money raised by all 401 mainboard IPOs listed in India from January 2022 till 14 November 2026, as per IPO Guru data.
Anthropic is the company that makes the Claude AI models. It is going to list its shares on Nasdaq in the US. This week it announced its price band, and a comparison with Indian IPOs went viral on social media. In this article, we explain the IPO in simple words, compare it with Indian IPOs and tell you what it means for Indian investors.
What is the Anthropic IPO?
On 10 November 2026, Anthropic filed an updated offer document, called Form S-1/A, with the US market regulator, the SEC. You can think of it as the US version of the RHP that Indian companies file before an IPO. Here are the main details:
| Detail | Anthropic IPO |
|---|---|
| Price band | $70 to $78 per share |
| Total shares on offer | 82.5 crore shares |
| Fresh issue | 80.14 crore shares |
| Offer for sale (OFS) | 2.36 crore shares |
| Issue size at upper band | $64.35 billion (about ₹6.06 lakh crore) |
| Issue size at lower band | $57.75 billion (about ₹5.44 lakh crore) |
| Green shoe option | 12.38 crore extra shares |
| Exchange and symbol | Nasdaq, ANT |
| Price fixing and listing | 18 and 19 November 2026 (expected) |
| Company value | Up to about $1.4 trillion (as per reports) |
About 97% of this IPO is a fresh issue. This means most of the money will go to the company for its business. Only a small part will go to old shareholders who are selling.
Apart from the IPO, seven big tech companies will together buy shares worth about $26 billion at the IPO price. These are Google, Nvidia, AMD, Broadcom, Micron, Microsoft and TSMC. These shares do not have voting rights and are not part of the public issue. If we add this amount, Anthropic can raise about $90 billion in total.
How big is the Anthropic IPO compared with Indian IPOs?
At the upper price band of $78, the Anthropic IPO comes to about ₹6,06,177 crore. As per IPO Guru data, 401 mainboard IPOs got listed in India between January 2022 and 14 November 2026. All of them together raised ₹6,05,612 crore. So, one US IPO is almost equal to five years of India's mainboard IPO market.
Some more comparisons to understand the size:
- Jio Platforms is India's biggest IPO till now at ₹30,188 crore (October 2026). The Anthropic IPO is about 20 times bigger.
- India's four biggest IPOs are Jio Platforms, Hyundai Motor India, NSE and LIC. Together they raised about ₹1.01 lakh crore. That is only around one-sixth of Anthropic's IPO.
- In 2026 so far, 110 mainboard IPOs have listed in India and raised ₹1,63,519 crore. Anthropic's IPO is about 3.7 times this amount.
Please note one point. We have used today's dollar rate of ₹94.20. In earlier years the rupee was stronger, so in dollar terms the Indian IPOs raised more at that time. The viral post counted 404 selected Indian IPOs using the dollar rate of each year. We counted every listed mainboard IPO, and the result is almost the same.
You can check every IPO's listing price and return on our IPO performance page.
Is the Anthropic IPO the biggest IPO in the world?
No. SpaceX raised $75 billion on Nasdaq in June 2026, which is the biggest IPO ever. If Anthropic prices at the upper band, it will become the second biggest. Before 2026, the record was with Saudi Aramco, which raised about $25.6 billion in 2019 (about $29.4 billion with the green shoe option).
So, two of the three biggest IPOs in history are coming in the same year. Both companies work in space and artificial intelligence (AI), where a lot of money is needed.
What do Anthropic's financials show?
The offer documents give results till 30 September 2026. The main numbers are:
- Revenue: about $33.2 billion in January–September 2026. Out of this, about $17 billion came in the July–September quarter alone.
- Net loss: about $104 billion in nine months. But $94.3 billion of this is only an accounting (non-cash) loss. It comes from the higher value of some investor instruments, like convertible notes. No actual cash went out for this.
- Operating loss: much smaller, at about $1.26 billion for nine months.
- Future spending: the company has promised to spend close to $900 billion in the coming years, mostly on computing power and data centres.
If you read the DRHPs of Indian companies, you will see this often. A big loss in the headline can look scary, but the operating numbers may show a different picture. Always check which loss is a real cash loss and which is only an accounting entry.
Who will control Anthropic after the IPO?
Anthropic is a "public benefit corporation". This means the law asks it to work for a public purpose, not only for profit. A special trust, called the Long-Term Benefit Trust, chooses most of the board members. The people in this trust have no money invested in the company.
Also, the seven co-founders together hold one special share (Class F). This one share gives them 50.1% of the voting power on most matters. So, people who buy shares in the IPO will get ownership, but very little say in big decisions. Indian investors can compare this with promoter-controlled companies, though the legal structure is different.
Can Indian investors invest in the Anthropic IPO?
You cannot buy it on NSE or BSE, because the shares will list only in the US. Indian residents can invest in US shares under the RBI's Liberalised Remittance Scheme (LRS). Under LRS, you can send up to $250,000 abroad in one financial year for investment. You will need an account with a broker that offers US stocks.
Keep these points in mind:
- Allotment works differently. In the US, the banks managing the IPO decide who gets shares, and most shares go to big institutions. As per reports, about 20% is kept for retail investors through US brokers. There is no lucky draw like IPO allotment in India.
- Most Indians can buy only after listing. You will pay the market price on listing day, which can be much higher or lower than the IPO price.
- Dollar–rupee movement matters. Your profit or loss in rupees depends on both the share price and the exchange rate.
- Tax is different. Profit on foreign shares is taxed differently from Indian listed shares. Please speak to a tax expert before investing.
What does it mean for the Indian IPO market?
Big global funds are now looking at very large AI IPOs. SpaceX has already listed, Anthropic is next, and OpenAI is expected next year. Some of the same foreign money also comes into big Indian IPOs through anchor investors and FPIs. So these mega deals may compete for that money.
In India, the same week is also busy. The Crystal Crop Protection IPO opens on 18 November. The Mahanadi Coalfields IPO opens on 19 November, the same day Anthropic shares are expected to start trading. After that, Razorpay has got SEBI approval and may list as early as December. You can track the latest grey market premium on our IPO GMP page and see all issues on the mainboard IPOs list.
To know more about how big India's IPO market has become, read our story on the Samvat 2082 IPO record and our October 2026 IPO market report.
Key points to remember
- The Anthropic IPO wants to raise up to $64.35 billion at a price band of $70–78 per share. It will list on Nasdaq under the symbol ANT.
- That is about ₹6.06 lakh crore, almost equal to all 401 Indian mainboard IPOs listed since January 2022.
- It will be the second biggest IPO in the world, after SpaceX's $75 billion IPO in June 2026.
- Indian investors can invest only through a US broker account under LRS, and most will be able to buy only after listing.
This article is only for information and learning. It is not advice to buy, sell or hold any share. IPO Guru is not a SEBI-registered research analyst. Anthropic's numbers are taken from its US filings and news reports, and they may change at final pricing.
