Can India's IPO market cross the $20 billion mark in 2026?

Several marquee companies, including Reliance Jio, National Stock Exchange, SBI Mutual Fund and PhonePe, are expected to anchor the second-half IPO calendar. Together, three or four large offerings could account for almost $8-9 billion of the year’s fundraising, underscoring the concentration of capital raising among a few high-profile issuers.

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