Summary of this article
Big-ticket IPOs raised eighty-five percent of FY26 market funds.
Strong macroeconomics and institutional participation drive mega public issues.
Large IPOs offer retail investors stable long-term wealth compounding.
The Securities and Exchange Board of India (Sebi) has released its Handbook of Statistics for the fiscal year ending 2025-26. The data released by the market regulator shows that the number of big-ticket initial public offerings (IPOs) has risen consistently in the last three fiscals.
According to the data, the number of IPOs with issue sizes greater than or equal to Rs 500 crore and above grew to 78 in FY25-26 from 62 in FY 2024-25. In FY 2023-24, the number of big-ticket IPOs stood at 55.
In the financial year ending 2026, the money raised via the primary market reached record high levels of Rs 2,34,782 crore . This record high fundraise was done through 506 public issues. However, as many as 78 public issues or 15.41 per cent of the total issues accounted for an overwhelming 85.84 per cent (Rs 2,01,618.36 crore) out of all the money raised via public issues.
Notably, the 78 big-ticket public issues managed to absorb the vast majority of primary market liquidity and drove the trends in the primary market. The top-heavy structure shows that while smaller issues keep the daily cycle busy, the primary market is operating on an axis where the vast majority of wealth mobilisation is locked within big-ticket public issues.
Why Is The Number of Big Ticket IPOs Increasing
The rise of big ticker IPOs has occurred in recent years due to a combination of several factors, such as strong macroeconomic fundamentals, stable investor participation in the stock market, and a rise in institutional investor participation. Additionally, a maturing private equity ecosystem is also likely to have led to investment funds using the public market liquidity to seek exits through massive offers for sale.
On the other hand, large and established corporate conglomerates are increasingly seeking to list their equity and also raise capital for fulfilling their expansion requirements and reducing debt.
The domestic securities market also provides an attractive valuation environment for multinational companies compared to their home markets. The listing of several international marquee companies is indicative of this.
For instance, LG Electronics India also entered the Indian public markets with a major Rs 11,607 crore issue and successfully raised capital. On the other hand, domestic giants like Tata Capital raised Rs 15,511.40 crore through its public issue. HDB Financial Services followed with a massive Rs 12,500 crore offering in recent years.
What More Big Ticket IPOs Mean For Retail Investors
While big-ticket IPOs have become more common in the last three fiscals, the count is now slowing down in FY27. So far in FY27, as many as 18 big-ticket IPOs have raised funds from the primary market. These include public issues such as SBI Funds Management IPO and Manipal Health Enterprises IPO, which had a significantly large issue size upwards of Rs 9000 crore. Additionally, several other big-ticket IPOs are slated to open later during the financial year, such as the Jio Platforms IPO and the NSE IPO.
For the average retail investor, the rise in big-ticket public offerings can offer certain advantages. Such big-ticket issues involve established and audited businesses, which can potentially provide a safer entry point and reduced business risk compared to volatile micro-cap stocks.
Additionally, in such issues, retail investors can observe the institutional anchor book as a preliminary screening tool, as institutional oversubscription is one of the many signals which show asset quality. Often, large ticket equity listings become candidates for future index inclusion across major stock exchanges, which in turn gets them future passive flows via mutual funds and provides vital long-term price support.
However, despite these potential advantages, retail investors should be realistic about their expectations regarding returns. Sheer scale and size mean the available free float is quite large, thus extremely high listing day price pops are rare. However, investment in such stocks can potentially be a long-term wealth compounding play rather than investing in them for a listing pop.
