India’s potential mainboard IPO pipeline is estimated at around Rs 3.86 lakh crore in the second of 2026, nearly 3.5 times the Rs 1.10 lakh crore raised so far in the year, according to AIBI. Of this, potential IPOs worth Rs 2.43 lakh crore have received the Sebi approval, while another Rs 1.44 lakh crore is awaiting clearance, the report said.