IPO issues in our records have raised ₹1,22,663 crore in 2026 so far, across 100 issues. September alone brought in ₹40,585 crore, about a third of the year's total. This IPO market trend note uses IPO Guru data as of 13 October 2026.
How the year has moved month by month
The first half was thin. January to June together raised ₹32,013 crore. July to September raised ₹90,364 crore, nearly three times that in half the time.
| Month | Issues | Money raised (₹ crore) |
|---|---|---|
| January | 3 | 4,767 |
| February | 7 | 8,182 |
| March | 9 | 11,788 |
| April | 3 | 396 |
| May | 2 | 4,331 |
| June | 6 | 2,548 |
| July | 11 | 26,728 |
| August | 22 | 23,051 |
| September | 35 | 40,585 |
| October (so far) | 2 | 286 |
September had 35 issues, more than January to June combined (30). October has only two closed issues so far, which is a count of what has already closed, not a measure of the month. Our week-ahead note lists the issues opening this week.
One issue shaped September
NSE's offer closed on 21 September and raised ₹22,562 crore. That is 56% of September's money and 18% of the whole year. Take it out and September still raised about ₹18,023 crore, which would have been the third-highest month of the year after July and August.
The five largest issues so far are below.
| Issue | Size (₹ crore) | Type | Closed |
|---|---|---|---|
| NSE | 22,562 | Offer for sale | 21 Sep |
| SBI Funds Management | 9,795 | Offer for sale | 16 Jul |
| Manipal Health Enterprises | 9,275 | Mixed | 31 Jul |
| Raajmarg Infra Investment Trust (InvIT) | 6,000 | Not stated | 13 Mar |
| Indo-MIM | 3,811 | Mixed | 27 Jul |
Who actually got the money?
This is the split most headlines skip. In a fresh issue, the company gets the money. In an offer for sale (OFS), existing shareholders sell and the company gets nothing. A mixed issue has both.
| Issue type | Issues | Money (₹ crore) | Share of total |
|---|---|---|---|
| Offer for sale only | 8 | 37,421 | 30.5% |
| Mixed | 56 | 61,798 | 50.4% |
| Fresh issue only | 25 | 11,990 | 9.8% |
| Not stated in our records | 11 | 11,455 | 9.3% |
Only 8 issues were pure OFS, yet they took nearly a third of all money, mostly because of NSE and SBI Funds Management. Pure fresh issues raised under a tenth. The mixed issues are the bulk, and how much of each went to the company is in each issue's own page.
What our data shows
Of the 100 issues this year, 54 list debt repayment as one of the objects of the issue. The average issue raised about ₹1,227 crore, but that figure is pulled up by NSE; only three issues were above ₹6,000 crore. Figures for sale type come from our stored records, and 11 issues have none, so the OFS and fresh shares are floors, not exact numbers. For how these issues listed, see our IPO performance page.
What happens next
Track the issues opening and closing this month on the IPO calendar. We will update these totals as October's issues close.
