₹1.7 Lakh Crore Raised Through IPOs in FY26, India’s Capital Markets Deepen: SEBI

India’s capital markets have witnessed rapid expansion over the last ten years, emerging as a key engine for corporate fundraising and economic growth, SEBI Chairman said, highlighting a sharp rise in equity market participation and primary market activity.

In the current financial year so far, companies have raised ₹1.7 lakh crore through 311 initial public offerings (IPOs), underscoring the scale and depth India’s capital markets have achieved.

Primary Market Activity at Record Levels

The large number of IPOs points to a broad-based expansion across sectors, with both large companies and smaller firms tapping public markets for growth capital. The continued momentum in the primary market reflects sustained investor appetite, even amid global economic uncertainty and volatile financial conditions.

SEBI Chairman said the ability of markets to consistently absorb large fundraising volumes indicates growing maturity and resilience of India’s financial ecosystem.

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Decade of Structural Reforms Pays Off

According to the regulator, the transformation of India’s capital markets over the last decade has been driven by a combination of regulatory reforms, digitisation, and improved market transparency. Measures aimed at faster disclosures, tighter governance norms, and smoother settlement cycles have helped strengthen investor trust.

The rise of online trading platforms and simplified onboarding processes has also expanded market access, bringing millions of first-time investors into the equity ecosystem.

Retail Participation Emerges as a Key Driver

A major feature of the recent capital market boom has been the growing participation of retail investors. Strong inflows from individual investors, along with domestic institutional participation, have helped reduce reliance on foreign capital and improve market stability.

The regulator noted that retail participation has played a critical role in sustaining IPO demand across market cycles.

Capital Markets as a Growth Enabler

SEBI Chairman said deeper capital markets are essential for financing India’s long-term growth ambitions, particularly as companies increasingly look beyond traditional bank funding to raise capital for expansion, innovation and infrastructure development.

The continued rise in IPO activity highlights the growing role of capital markets in supporting entrepreneurship, wealth creation, and economic development.

Outlook Remains Positive

Despite periodic volatility, SEBI said the long-term outlook for India’s capital markets remains strong, supported by macroeconomic stability, policy reforms, and rising financialisation of household savings.

The regulator reiterated its focus on investor protection and market integrity as participation and fundraising volumes continue to scale up.

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