Engineering companies are among the biggest contributors to India’s initial public offering (IPO) market in 2026, followed by financial services and investments firms, so far for the first nine months of the year.
There has been a shift in the sectoral composition of the listings seen this year, as compared to the previous year. So far, for the nine months ended September 30, as many as 11 engineering companies tapped the primary market in 2026, up from six in the corresponding period of 2025, according to data from Prime Database.
"Public capex of Rs 12.2 lakh crore in Budget 2026-27 has created a deep bench of mid-sized engineering suppliers, and many of them need growth money," explained Tarun Singh, MD & Founder, Highbrow Securities.
"Emerging countries like India are heavily dependent on capital intensive industries," said Kresha Gupta, Fund Manager & Director at Steptrade Capital. "So there is an ongoing fund raise to manage the capex cycle across infrastructure, manufacturing, power and industrial capacity."
Among the other sectors, financial services and investment firms saw 10 IPOs so far this year, compared to four from the previous year, followed by jewellery companies that launched 8 IPOs in 2026.