Citigroup Sees India IPOs Rebounding in H2 After $3.5 Billion Start

2 articles · Updated · Bloomberg · May 21

$3.5 billion has been raised in Indian IPOs so far in 2026, and Citigroup says issuance should recover in the second half after a weak start.
Citi linked the slowdown to foreign capital outflows and a sliding rupee, which have complicated dealmaking and damped market conditions.
A potential record-breaking Jio Platforms listing and the long-delayed National Stock Exchange IPO are seen as pivotal to reviving volumes.
India raised $22.4 billion in IPOs in 2025, ranking as the world's third-biggest market, leaving room for a sharp rebound if marquee deals proceed.

With foreign capital fleeing, can domestic investors alone fuel India's record-breaking IPO ambitions?

India leads the world in IPO volume but lags in value. What does this paradox signal?