Coming up in 2026: A tale of three IPOs

Among other things, corporate India could witness some key developments in 2026.

- Nivedita Mookerji

While Reliance Industries Chairman Mukesh Ambani has announced that Jio Platforms will go for a public listing in the first half of next year, there's nothing official yet on two other mega IPOs (initial public offerings) that may bunch up in the same time band. Adding firepower to the Street, steel-to-software conglomerate Tata Group may possibly list its holding company, Tata Sons, next year—depending on the Reserve Bank of India (RBI) verdict on the matter, which is expected anytime now. The third listing, which is being anticipated as a blockbuster of sorts, may come from the house of Flipkart—now owned by Walmart.

The size of an IPO, which determines how much capital a company raises, is of course a talking point. A lot has already been said about the Jio IPO, likely to be the biggest in India, beating Hyundai's $3.3 billion market debut in 2024. But beyond size, a listing is often a defining moment for a company, both in terms of investor appeal and its own growth trajectory. How will the likely listings of Jio, the Tatas, and Flipkart pan out?