As 2026 knocking, the Indian primary market shows no signs of slowing down. A strong pipeline of diverse public issues is set to drive investor interest this month. From AI and renewable energy to mining and hospitality, the upcoming IPOs in January 2026 span multiple high-growth sectors and are expected to attract both institutional and retail investors.
Market Recap: Momentum Carries Into January
December 2025 proved to be a highly active month for India’s capital markets. The mainboard segment saw significant action with the successful listings of players like Meesho (INR 5,421.20 crore) and ICICI Prudential AMC (INR 10,602.65 crore), Corona Remedies (INR 655.37 crore), which set a positive tone with healthy subscription levels.
With this backdrop, the IPO calendar for January 2026 is expected to maintain market enthusiasm. The list of forthcoming IPOs in January 2026 includes some of the most anticipated public offerings that have been waiting for the right market window.
Fractal Analytics
Fractal Analytics, a global leader in artificial intelligence and data science, is heading to the public markets with one of the most tech-forward IPOs of the year. The company provides strategic AI solutions to Fortune 500 companies, helping them power every human decision in the enterprise.
The company received SEBI approval in late 2025 for its INR 4,900 crore issue. The offering will be a mix of fresh issue and an offer for sale (OFS). As India’s first major pure-play AI listing, Fractal is one of the most closely followed IPOs in January 2026, especially as global interest in generative AI continues to peak.
Hero FinCorp IPO
Hero FinCorp, a key player in the NBFC sector and the lending arm of Hero MotoCorp, offers loans across retail, SME, and vehicle finance segments. With a massive captive customer base and a growing digital footprint, the company is scaling its loan book rapidly.
The upcoming issue is estimated at INR 3,668 crore. Proceeds from the fresh issue component will be used to augment the company’s Tier-1 capital base to meet future business requirements. Its deep distribution network and the backing of the “Hero” brand make it one of the more attractive forthcoming IPOs in January 2026.
Bharat Coking Coal IPO
Bharat Coking Coal (BCCL), a prominent subsidiary of the PSU giant Coal India, is set to go public in the first half of January. This move is part of the government’s strategic disinvestment plan for the mining sector.
The INR 1,300 crore IPO will offer a chance for investors to own a piece of India’s essential coking coal infrastructure. Given the company’s critical role in the domestic steel industry and its consistent operational performance, BCCL is seen as a stable value play among the January 2026 Indian IPOs.
Clean Max Enviro IPO
Backed by marquee investors, Clean Max Enviro Energy is a leading renewable energy provider for the commercial and industrial (C&I) sector. The company operates a large portfolio of solar and wind farms across India and Southeast Asia.
The company has secured SEBI clearance for its INR 5,200 crore IPO. The funds are earmarked for expanding their renewable energy capacity and debt repayment. With the global shift towards ESG-compliant investments, Clean Max is a strong contender among energy-focused IPOs in January 2026.
Prestige Hospitality Ventures
A dedicated hospitality arm of the Prestige Group, this company develops and operates luxury hotels under global brands such as Sheraton, Hilton, and Conrad. The firm is looking to capitalise on the sustained boom in the Indian tourism and business travel sectors.
The INR 2,700 crore IPO will be a mix of fresh issue + OFS, with funds planned for new hotel developments and reducing existing debt. Investors seeking exposure to high-end real estate-backed hospitality may find this a solid opportunity within the upcoming IPOs in January 2026.
PMEA Solar Tech Solutions IPO
PMEA Solar Tech is a leading manufacturer of solar tracking systems and mounting structures. With the government’s aggressive solar targets, PMEA has scaled its manufacturing capacity to meet the rising demand for utility-scale solar projects.
PMEA Solar IPO is expected to be a mix of fresh issue (INR 600 crore) and OFS (1,12 crore
shares). Given the high-margin nature of solar trackers compared to static structures, PMEA Solar Tech is positioned as a niche player in the renewable energy supply chain among the upcoming IPOs in January 2026.
Varindera Constructions
Varindera Constructions is a key player in the EPC (Engineering, Procurement, and Construction) space, focusing on integrated infrastructure projects for the defense sector, airports, and institutional buildings. The company secured IPO approval from SEBI on 23 January 2025 which is going to expire next month.
The company’s IPO is slated to be around INR 1,200 crore. With a robust order book and a track record of executing complex projects for the Military Engineer Services (MES), Varindera Constructions offers a specialized route for investors to tap into India’s infrastructure story.
SMPP Limited IPO
In the defense segment, SMPP is one of the most anticipated names. The company specializes in the design and manufacture of defense solutions, including bulletproof jackets, ballistic helmets, and tank ammunition.
The company secured approval for its INR 4,000 crore IPO on 29 January 2025, which is also going to expire next month. SMPP IPO includes a fresh issue (INR 580 crore) and an OFS (INR 3,420 crore). As India pushes for ‘Atmanirbhar Bharat’ in defense, SMPP’s strong export order book and domestic contracts make it a high-interest play for investors looking for forthcoming IPOs in January 2026.
Conclusion
Upcoming IPOs in January 2026 reflects India’s evolving economic story — from state-backed mining and traditional finance to cutting-edge AI and green energy. Whether it’s a tech disruptor like Fractal Analytics or a stable PSU like BCCL, the forthcoming IPOs in January 2026 offer something for every investor type.
As always, investors should review DRHPs, track SEBI approvals, and monitor grey market trends before committing capital.
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