FY26 India IPOs show signs of retail fatigue, with average listing gains falling to -7% and retail oversubscription halving. Only 34 of 108 IPOs delivered over 10% gains on listing day. While institutional participation, especially by mutual funds, remains strong, retail appetite is cooling. FY27 sees a robust pipeline, with 144 SEBI-approved companies and 83 new-age tech firms preparing to raise capital.
