Around a dozen companies are preparing to raise over \u20b952,000 crore (~$6.3 billion) through IPOs, institutional placements, and government stake sales over the next two months, the most concentrated equity supply window of 2026. The real question is not whether the deals will arrive. It is whether domestic liquidity can absorb them without disrupting broader market valuations.<\/p>\n
Data as of June 10, 2026<\/em><\/p>\n India’s primary market has been quiet since January. IPOs raised approximately $3.5 billion in the first half of 2026, well behind the pace of the previous two record years, when annual proceeds topped $20 billion each. The underperformance of Indian stocks made prospective issuers more tentative about timing their launches. With the Nifty recovering off its April lows and domestic institutional flows staying firm, that hesitancy is now lifting.<\/p>\n Around a dozen companies are expected to tap markets over the next two months as per the Bloomberg report. Publicly reported large transactions include SBI Funds Management, LIC, Waaree Energies, JSW Infrastructure, and Hindustan Zinc. Sizes below are as reported by Bloomberg:<\/p>\n Source: Bloomberg. Transaction sizes are tentative and subject to regulatory approvals and market conditions.<\/p>\n The anchor deal of the pipeline. SBI and its JV partner Amundi plan to divest a combined 10% stake \u2014 SBI selling 6.3% and Amundi 3.7% \u2014 through an IPO. Market estimates peg the raise at \u20b911,500\u201313,000 crore depending on final valuation and offer structure, with nine investment banks engaged including Kotak Mahindra Capital, ICICI Securities, Axis Bank, HSBC, Citigroup, and Bank of America.<\/p>\n The Centre is preparing to sell a ~2% stake in LIC in late June or early July, according to Business Standard. Goldman Sachs, Motilal Oswal, BNP Paribas, and IIFL Capital Services are managing the transaction. LIC shares have rallied nearly 5% following stronger-than-expected Q4 results, trading around \u20b9845, giving the insurer a market cap of approximately \u20b95.14 lakh crore. The government holds 96.5% and must reduce its stake to 90% by May 2027 under SEBI’s minimum public shareholding mandate.<\/p>\n JSW Infra is evaluating a QIP or follow-on public offering to comply with SEBI’s 25% minimum public shareholding norms, with chairman Sajjan Jindal having indicated the decision will align with capital expenditure needs and prevailing market conditions.<\/p>\n India’s largest solar module manufacturer is evaluating a fresh share sale. Waaree’s Q4 FY26 net profit came in at \u20b91,061 crore, up 71.45% year-on-year, providing a strong earnings base to underpin any institutional placement.<\/p>\n Hindustan Zinc rounds out the Bloomberg-reported pipeline at approximately \u20b95,000 crore. Specific transaction structure has not been publicly disclosed.<\/p>\n Separately, quick-commerce platform Zepto has reportedly filed an updated DRHP with SEBI for a ~\u20b910,000 crore IPO, according to multiple media reports, including Business Standard and ANI citing a June 8, 2026 filing.<\/p>\n The IPO comprises a fresh issue of \u20b98,010 crore and an offer for sale by existing investors. Timelines and the final issue size remain subject to regulatory approvals.<\/p>\n Zepto would become the first dedicated quick-commerce company to list on Indian exchanges. This transaction is not part of Bloomberg’s reported pipeline and is being tracked independently.<\/p>\n Beyond primary issuance, a secondary supply wave is building simultaneously.<\/p>\n According to data compiled by Nuvama Wealth Management, lock-up periods for more than 50 recently listed companies are scheduled to expire over the next two months, potentially freeing shares worth over \u20b980,000 crore (~$8.4 billion) for sale by promoters, private equity funds, and early investors.<\/p>\n Not all will sell, but the overlap with the primary issuance window is what makes liquidity the central question of this cycle.<\/p>\n “The risk of liquidity stretch is not insignificant, particularly if multiple large deals hit the market at the same time,” said Sachin Relekar, Senior Equity Fund Manager at Axis Mutual Fund.<\/p>\n “In such a scenario, we could see pressure on secondary-market liquidity, especially in mid and smallcap stocks.”<\/p>\n Institutional flow data heading into this supply wave tells the absorption story directly. The following figures are sourced from NSE provisional cash market data:<\/p>\n June 9, 2026:<\/strong> FIIs net sold \u20b94,566 crore. DIIs net bought \u20b96,159 crore \u2014 fully absorbing the outflow.<\/p>\n June 8, 2026:<\/strong> FIIs net sold \u20b95,556 crore. DIIs net bought \u20b95,165 crore \u2014 near-complete absorption.<\/p>\n June 5, 2026:<\/strong> FIIs net sold \u20b98,776 crore \u2014 the heaviest single-session outflow in the recent stretch. DIIs responded with \u20b99,134 crore in net buying, keeping the market contained.<\/p>\n The structural context matters here. By 2026, FPI ownership of NSE-listed equities has fallen to approximately 15\u201316%, a multi-year low, while DII ownership has risen above it for the first time, powered by record mutual fund and SIP inflows. Even as FIIs pulled close to \u20b91.92 lakh crore in early 2026, domestic institutions absorbed most of it and the market held far better than the old playbook would have predicted.<\/p>\n F&O positioning as of June 10, 2026, 3:30 PM IST (NiftyTrader Option Chain data):<\/strong> Nifty PCR stood at approximately 0.70, reflecting a market that is cautious but not outright bearish. Maximum Call OI at the 24,000 strike marks the near-term ceiling; maximum Put OI at 23,000 is the support floor. India VIX moderated to 15.79 from above 19 in early June \u2014 a directionally positive signal for primary market demand.<\/p>\n \ud83d\udc49 [Track live FII-DII flows on NiftyTrader’s FII-DII Dashboard<\/a> \u2192]<\/strong><\/p>\n
\nKey Takeaways<\/h2>\n
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\nWhy Issuers Sat Out H1 2026<\/h2>\n
\nThe Deal Pipeline: What Bloomberg Reported<\/h2>\n
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\n \nCompany<\/th>\n Transaction type<\/th>\n Reported amount<\/th>\n<\/tr>\n<\/thead>\n \n SBI Funds Management<\/a><\/td>\n IPO<\/td>\n ~\u20b913,000 crore<\/td>\n<\/tr>\n \n Life Insurance Corp.<\/a><\/td>\n Govt. stake sale (OFS)<\/td>\n ~\u20b910,000 crore<\/td>\n<\/tr>\n \n JSW Infrastructure<\/a><\/td>\n QIP \/ share sale<\/td>\n ~\u20b97,500 crore<\/td>\n<\/tr>\n \n Waaree Energies<\/td>\n Share sale<\/td>\n ~\u20b97,000 crore<\/td>\n<\/tr>\n \n Hindustan Zinc<\/td>\n Share sale<\/td>\n ~\u20b95,000 crore<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
\nDeal by Deal: What Is Being Planned<\/h2>\n
SBI Funds Management \u2014 ~\u20b913,000 crore IPO<\/strong><\/h3>\n
LIC \u2014 ~\u20b910,000 crore government OFS<\/strong><\/h3>\n
JSW Infrastructure \u2014 ~\u20b97,500 crore<\/strong><\/h3>\n
Waaree Energies \u2014 ~\u20b97,000 crore<\/strong><\/h3>\n
Hindustan Zinc \u2014 ~\u20b95,000 crore<\/strong><\/h3>\n
\nZepto IPO \u2014 Tracked Separately from Bloomberg Pipeline<\/h2>\n
\nThe Supply Overhang: Nuvama’s Lock-Up Data<\/h2>\n
\nWhat NiftyTrader FII-DII Data Is Showing<\/h2>\n