Jio Leads India to Top of Global IPO Market in October 2026

India became the leading IPO market globally in October, thanks to the record listing of Jio Platforms Ltd. According to Bloomberg, companies raised about 455 billion rupees ($4.8 billion) through IPOs, marking a historic high for the country. This placed India in the top position for October, with the US collecting $2.1 billion and Hong Kong $1.5 billion during the same period.

What lies behind the record

The month marks a sharp turnaround for the Indian IPO market: previously lagging while the rest of the world accelerated amid sales of shares in companies from the artificial intelligence supply chain. The market revived in the second half of the year thanks to large deals, including Jio and the National Stock Exchange of India. About 40 companies went public in October—more than in any other country, indicating a breadth of offerings alongside mega-deals.

Jio and Ambani

Jio—a telecommunications and digital company owned by billionaire Mukesh Ambani—raised 302 billion rupees in the largest IPO in India's history. The listing was in high demand from both institutional and private investors, despite the weakness of the broader stock market.

The year and groundwork for the future

Indian companies have raised about $18.26 billion through IPOs since the beginning of the year, which is close to the record $22.36 billion collected in 2025. The ability of investors to absorb large listings like Jio could prompt companies waiting on the sidelines to accelerate their plans to go public—and keep India among the most active new listing markets in 2027. Currently, about 113 companies have received regulatory approval, and another 115 have submitted draft prospectuses.