The Indian IPO market remains strongly positioned going into February 2026, immediately after the Union Budget. With over 190 companies lining up for listings in 2026, regulators and markets are expecting a record-breaking year of public market activity. In fact, more than 96 companies have already secured SEBI approval and another 100+ are awaiting clearance, together targeting more than ₹2.5 lakh crore in fundraising this year.
While exact opening dates and pricing bands are not yet fixed, several potential IPOs are being tracked based on Draft Red Herring Prospectuses (DRHPs) filed with SEBI and industry estimates. Issue sizes below are expected figures and could be confirmed only when the final offer documents (RHP) are filed.
Upcoming IPO in February 2026
Fractal Analytics Limited
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Sector: AI & Advanced Analytics
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Business: A global leader in artificial intelligence, predictive analytics and data-driven decision solutions, serving Fortune 500 clients in BFSI, retail, healthcare, consumer goods and more.
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IPO Type: Mix of Fresh Issue and Offer for Sale
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Estimated Issue Size: ~₹4,900 crore (industry estimate)
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Status: Draft filed; expected mid-February 2026 launch window.
CIEL HR Services Limited
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Sector: HR Services & Staffing
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Business: Provides integrated human resources solutions including staffing, recruitment, HR consulting and digital workforce platforms across multiple sectors (based on DRHP image).
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IPO Type: Fresh Issue + Offer for Sale
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Estimated Issue Size: Fresh issue ~₹335 crore + OFS of up to 4,739,336 shares † (per DRHP and market sources)
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Status: SEBI approval expected to lapse in mid-February 2026 if not launched soon.
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Total IPO: Includes both new capital and sell-down by existing investors.
Paramesu Biotech Limited
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Sector: Bio-Agriculture & Specialty Chemicals
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Business: Supplies eco-friendly crop protection solutions and bio-inputs for sustainable agriculture (per DRHP image).
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IPO Type: Fresh Issue + OFS
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Estimated Issue Size: ~₹600 crore total (Fresh ~₹520 crore + OFS ~₹80 crore)
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Status: Draft filed; timing expected around February 2026.
PNGS Reva Diamond Jewellery Limited
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Sector: Diamond Jewellery Retail
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Business: Diamond and gemstone jewellery designer and retailer with presence in domestic and international markets (from your provided image).
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IPO Type: Likely Fresh Issue
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Estimated Issue Size: Industry chatter suggests ~₹400+ crore (unconfirmed until RHP filing; market sources)
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Status: Draft filed; potential February 2026 timeline.
Skyways Air Services Limited
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Sector: Air Freight & Logistics
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Business: Provides air-freight forwarding, logistics and supply chain services across India and globally (from image details).
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IPO Type: Fresh Issue + possibly some OFS
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Estimated Issue Size: ~₹600–700 crore (market expectation)
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Status: Expected in early February 2026 once DRHP progresses.
Indo-MIM Limited
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Sector: Precision Engineering / MIM Technology
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Business: World-leading metal injection molding (MIM) manufacturer making high-precision parts for aerospace, medical, automotive and defense.
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IPO Type: Fresh Issue + OFS
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Estimated Issue Size: ~₹5500 Crore
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Status: Draft expected to transition to RHP through February 2026.
Why February 2026 Is Important
SEBI usually allows 12 months from the observation letter to launch an IPO — otherwise companies have to re-file documents. Several firms in this group are approaching that window, making February 2026 a key month for pushing through listings before approvals expire.
Market Outlook Post-Budget
The 2026 IPO calendar is shaping up to be one of India’s most active ever, with a diverse mix of technology, industrial, consumer, financial and services companies lining up to go public. Beyond the six companies above:
Major listings like National Stock Exchange (NSE) and Reliance Jio are also moving ahead with approvals and draft filings in progress, and could launch later in 2026.
Investors should expect more RHP filings soon, after which each IPO’s issue size, price band and subscription schedule will be announced officially.
None of the IPO dates above are confirmed yet. These are tentative expectations based on SEBI filings, regulatory timelines and market analyst estimates. Final details will be known only once each company files its Red Herring Prospectus and SEBI issues its observations/approval.
Also Read – SEBI APPORVED IPO LIST
Also Read – DRHP File IPO List