5 Big Upcoming IPOs to Watch After NSE: Jio, OYO & More

Mumbai, Sept 23: Investors tracking upcoming IPOs have several large public issues to watch after the NSE IPO which is scheduled to list on the BSE on September 24. Jio Platforms, PhonePe, Mahanadi Coalfields, Avaada Electro and OYO are among the five biggest proposed IPOs in the current pipeline, with estimated issue sizes ranging from ₹6,650 crore to ₹35,000 crore.

Together, these five proposed issues have an estimated size of around ₹71,250 crore. However, the companies are at different stages of the IPO process, and their final issue sizes and launch dates can change.

5 Big Upcoming IPOs

Company	Estimated Issue Size	Current Status
Jio Platforms	₹35,000 crore	SEBI approved
PhonePe	₹12,000 crore	Awaiting SEBI approval
Mahanadi Coalfields	₹10,000 crore	Awaiting SEBI approval
Avaada Electro	₹7,600 crore	SEBI approved
OYO (Oravel Stays)	₹6,650 crore	SEBI approved

Jio Platforms IPO

Estimated issue size: ₹35,000 crore

Jio Platforms has the largest proposed issue among the five companies. It filed its IPO papers on June 19, 2026, and received SEBI approval on August 28, 2026.

The proposed Jio IPO comprises up to 27 crore fresh equity shares. The company plans to use part of the proceeds to repay debt.

The exact IPO date, price band and final issue size have not yet been officially announced. Separate market reports have indicated that Jio is targeting a possible November launch, but the timing remains subject to change.

PhonePe IPO

Estimated issue size: ₹12,000 crore

PhonePe is planning an IPO estimated at around ₹12,000 crore, making it the second-largest issue among the five companies on the list.

The digital payments and financial services company filed its draft IPO papers with SEBI on September 24, 2025. It is currently awaiting regulatory approval.

The final issue size and IPO timeline will depend on subsequent regulatory and company announcements.

Mahanadi Coalfields IPO

Estimated issue size: ₹10,000 crore

Mahanadi Coalfields has a proposed IPO size of around ₹10,000 crore. The company filed its draft papers with SEBI on September 3, 2026, and is currently awaiting regulatory clearance.

Mahanadi Coalfields operates in the mining, minerals and metals sector.

The proposed issue is an offer for sale by promoter Coal India, according to the company’s draft papers.

Avaada Electro IPO

Estimated issue size: ₹7,600 crore

Avaada Electro has a proposed IPO size of approximately ₹7,600 crore.

The company filed its IPO papers on October 20, 2025, and received SEBI approval on April 15, 2026. It operates in the power generation and supply sector.

While the regulatory approval is already in place, the company has not yet announced a final subscription schedule in the information cited here.

OYO IPO

Estimated issue size: ₹6,650 crore

Oravel Stays, the company behind the OYO brand, has a proposed IPO size of around ₹6,650 crore.

The company filed its IPO papers on January 1, 2026, and received SEBI approval on June 2, 2026. Its business covers hotels, resorts, restaurants and tourism.

The final date and issue terms  for OYO IPO are yet to be announced.

India’s IPO Pipeline Stands at ₹4.27 Lakh Crore

The five companies are part of a much larger IPO pipeline.

According to Prime Database data cited by The Economic Times, 147 companies that have received SEBI approval could raise up to ₹2,79,713 crore through IPOs.

Another 75 companies that have filed draft papers and are awaiting SEBI approval could potentially raise ₹1,47,040 crore.

Together, the two groups represent a potential IPO pipeline of ₹4,26,753 crore, or around ₹4.27 lakh crore.

The approved pipeline includes names such as Jio Platforms, Oravel Stays and Zepto, while PhonePe and Razorpay are among companies in the draft-filing pipeline.

What to Know Before These IPOs Launch

A SEBI approval does not mean that an IPO will immediately open for subscription. Companies with approved issues still need to decide their launch schedules and complete the required steps.

For companies that have only filed draft papers, regulatory approval is still pending.

The estimated issue sizes mentioned above are also not final and may change before the respective IPOs open.

Conclusion

The NSE IPO is not the end of the current IPO rush. Jio Platforms, PhonePe, Mahanadi Coalfields, Avaada Electro and OYO are among the biggest proposed issues waiting in the pipeline, with a combined estimated size of ₹71,250 crore.

For investors following upcoming IPOs, the next key developments will be the official launch dates, price bands, final issue sizes and subscription schedules announced by these companies.