FY26 IPO returns disappoint as only one in three listings stays profitable

Foreign investors fled, and IPO winners were rare

FY26’s primary market proved rough for new listings, with volatility and a foreign investor exodus weighing on post-listing performance. Out of 109 mainboard IPOs, only about a third delivered positive returns. A handful of names still surged, including Ather Energy and Belrise Industries, underscoring how uneven the IPO opportunity became.