Best Upcoming IPO India 2026 to Invest: Dates, GMP, Analysis & Big Names

The Indian IPO market in 2026 has been moving at a pace that most investors have not seen in years. New issues are launching every week, subscription numbers are breaking records, and retail participation is at an all-time high.

But choosing the best upcoming IPO India 2026 to invest in is not just about checking the grey market premium and hitting apply. You need to look at the company's financials, what the IPO money is being used for, and how the subscription trends are shaping up.

This article covers the best upcoming IPO India 2026 to invest in — from IPOs open right now in June to big names like Reliance Jio, Zepto, and PhonePe expected later this year.

June 2026 Upcoming IPO List

Here is a snapshot of the best upcoming IPO India 2026 to invest in this month, based on live data from BSE, NSE, and registrar filings.

Company	Type	Price Band	Open	Close	Listing	GMP
Turtlemint Fintech	Mainboard	TBA	Jun 19	Jun 23	Jun 29	—
Advit Jewels	Mainboard	TBA	Jun 23	Jun 25	Jul 01	₹95
Clay Craft India	SME	₹193–₹203	Jun 17	Jun 19	Jun 24	₹60 (+29.6%)
Diksha Polymers	SME	₹112	Jun 17	Jun 19	Jun 24	₹0
Liotech Industries	SME	₹321	Jun 17	Jun 19	Jun 24	₹0
Leapfrog Engineering	SME	₹21–₹23	Jun 17	Jun 19	Jun 24	₹0

GMP figures are from the unofficial grey market and change daily. They do not guarantee the actual listing price.

Turtlemint Fintech Solutions IPO

Turtlemint is one of the top picks when looking at the best upcoming IPO India 2026 to invest in from the Mainboard category. Founded in 2015, it has grown into India's largest insurtech distribution platform. It connects insurance companies, certified advisors called PoSPs, and end customers — and also distributes mutual funds and loan products.

As of September 2025, the platform had over 603,000 registered Digital Partners. Among similar platforms in India, Turtlemint held a 15.97% share of the total PoSP advisor base — the highest in the segment.

Revenue grew from ₹419.9 crore in FY23 to ₹662.7 crore in FY25. The company is not yet profitable — it reported a net loss of ₹194.1 crore in FY25, which was nearly flat compared to the previous year.

IPO proceeds will go toward technology team salaries (₹193 crore), cloud infrastructure (₹25.6 crore), and marketing (₹39 crore). ICICI Securities, JM Financial, Jefferies India, and Motilal Oswal are the lead managers.

Detail	Information
Founded	2015
Sector	Insurtech / Insurance Distribution
Revenue FY25	₹662.7 crore
Net Loss FY25	₹194.1 crore
Digital Partners	603,000+ (Sep 2025)
Listing Date	Jun 29, 2026 (BSE & NSE)
Lead Managers	ICICI Securities, JM Financial, Jefferies, Motilal Oswal

Advit Jewels IPO

Advit Jewels is a Jaipur-based fine jewellery manufacturer operating under the heritage brand "Rambhajo since 1921." The company specialises in Kundan, Polki, diamond, and studded pieces — necklaces, earrings, rings, bangles, and custom bridal orders.

The business is primarily B2B, supplying dealers, showrooms, and jewellery retailers across Maharashtra, Delhi, Gujarat, Punjab, Rajasthan, West Bengal, and several other states. The manufacturing facility in Jaipur spans 6,450 sq. ft. with 3D printers, casters, and in-house quality testing.

Revenue nearly doubled from ₹69.45 crore in FY24 to ₹124.94 crore in FY25. Net profit grew from ₹14.71 crore to ₹25.37 crore in the same period.

The GMP stood at ₹95 as of June 13, 2026, signalling strong informal demand. The price band has not been announced yet, and the listing is scheduled for July 1 on both BSE and NSE.

Detail	Information
Brand	Rambhajo since 1921
Revenue FY25	₹124.94 crore
Net Profit FY25	₹25.37 crore
GMP	₹95 (Jun 13, 2026)
Allotment Date	Jun 29, 2026
Listing	Jul 01, 2026 (BSE & NSE)
Registrar	Bigshare Services Pvt. Ltd.

Clay Craft India IPO

Clay Craft India was incorporated in July 1994 and is based in Rajasthan. The company manufactures bone china crockery and ceramic tableware — plates, cups, saucers, mugs, tea sets, and customised pieces for the HoReCa segment.

As of March 2026, the company had approximately 5,770 SKUs and 1,392 employees. It has spent over three decades building a strong presence in the institutional and hospitality tableware space.

The issue is a 100% fresh issue with no Offer for Sale component — all proceeds go directly to the company. The money will be used to build a new manufacturing facility in Manda, Rajasthan.

The price band is ₹193–₹203 per share, with a lot size of 600 shares. Retail investors must apply for a minimum of two lots, which means a minimum investment of ₹2,43,600 at the upper band. The GMP as of June 14 was ₹60, implying an expected listing price of around ₹263 — roughly 29.6% above the issue price.

Detail	Information
Founded	July 1994
Issue Size	₹110.11 crore (100% Fresh Issue)
Price Band	₹193–₹203 per share
Lot Size	600 shares
Min. Retail Investment	₹2,43,600 (2 lots)
GMP	₹60 (+29.6%)
Listing Date	Jun 24, 2026 — NSE SME

Big IPOs Expected Later in 2026

Beyond the June calendar, the second half of 2026 is shaping up to deliver some of the biggest listings this country has ever seen. If you are tracking the best upcoming IPO India 2026 to invest in for the long term, these are the names to watch. These listings do not have confirmed open dates yet — timelines depend on SEBI approvals and market conditions.

Company	Sector	Expected Issue Size	Status (Jun 2026)
Reliance Jio	Telecom / Digital	₹33,000–₹38,000 crore	DRHP expected; H2 2026 or H2 FY27
Zepto	Quick Commerce	₹8,010 crore (fresh)	SEBI approved May 8, 2026
PhonePe	Fintech	~₹10,000–₹12,000 crore	SEBI approved
OYO (Prism)	Travel	₹6,650 crore	DRHP filed
NSE	Stock Exchange	TBA	Regulatory clearance pending

Reliance Jio could become India's largest-ever IPO. The valuation range sits between ₹10.8 lakh crore and ₹14.1 lakh crore. Even a 2.5–3% public float at those numbers means ₹33,000–₹38,000 crore could be raised in a single issue.

During the FY26 earnings call in April 2026, Reliance Industries management called the IPO "imminent." However, reports suggest geopolitical tensions and internal valuation targets may push the actual listing to H2 FY27. Akash M. Ambani was appointed Managing Director in May 2026, which signals leadership continuity ahead of the listing.

Zepto received SEBI's formal approval on May 8, 2026. The company has filed an updated DRHP outlining a ₹8,010 crore fresh issue. As of March 2026, it had 47.97 million annual transacting users, processed 2.33 million orders per day, and operated 1,139 dark stores across 66 cities. Goldman Sachs, Morgan Stanley, and JM Financial are the appointed bankers, and a July 2026 listing window is being discussed in the market.

What to Check Before Applying for the Best Upcoming IPO India 2026 to Invest In

Evaluation Parameter	What to Look For
GMP Trend	Stable or rising during the subscription period
QIB Subscription	2x+ for SME; 5x+ for Mainboard
Use of Proceeds	Business expansion or capex over promoter OFS exit
Revenue Trend	Consistent year-on-year growth
Profitability	Profitable or a clear path to profitability
Peer Valuation	Issue P/E reasonable vs listed sector peers
Anchor Investors	Reputed mutual funds or FIIs in the anchor round

The GMP trend matters more than the actual number. A GMP that holds steady or rises through the subscription period shows genuine demand — a GMP that spikes on Day 1 and fades is a different story.

QIB category subscription is the most important data point to track. Mutual funds and FIIs do their own fundamental research before bidding. Strong QIB participation is one of the clearest signals of a quality issue.

Always check where the IPO proceeds are going. A company using funds for factory expansion or technology investment is in a very different position from one where promoters are primarily taking money off the table through an OFS.

Mainboard IPO vs SME IPO — Key Differences

Mainboard IPOs list on the main BSE and NSE exchanges. Retail lot sizes typically require ₹14,000–₹15,000 per application, SEBI eligibility requirements are stricter, and post-listing liquidity is generally much better.

SME IPOs list on BSE SME or NSE Emerge. Minimum lot sizes are higher — often ₹1 lakh to ₹2.5 lakh per application. Clay Craft India is a current example, where the minimum retail application is ₹2,43,600.

Returns in SME issues can be higher, but so can the volatility. Post-listing liquidity is thinner, and price swings in the first few weeks are often wider than Mainboard issues.

For investors new to the IPO space, starting with Mainboard issues makes more sense. SME investing works better when you have higher capital comfort and a stronger risk appetite.

Frequently Asked Questions

1. What is GMP in an IPO and should you apply based on it?

GMP stands for Grey Market Premium — it reflects the price at which IPO shares are traded informally before the official listing. It is not regulated by SEBI and carries no guarantee. GMP is a useful sentiment indicator, but it should never be the only reason to apply. Fundamentals and subscription data matter equally.

2. How does IPO allotment work for retail investors?

When an IPO is oversubscribed in the retail category, SEBI mandates a lottery-based allotment system. Each applicant gets one lot or nothing — applying for more lots does not increase your allotment chances. The best approach is to apply with UPI and ensure your bank mandate is approved on time.

3. Which is better — Mainboard IPO or SME IPO for the best upcoming IPO India 2026 to invest in?

Both serve different investor profiles. Mainboard needs less capital, has better liquidity, and carries comparatively lower risk. SME requires more capital per application but can deliver higher listing gains. If you are new to IPO investing, Mainboard is the more practical starting point.

4. When will Zepto and Reliance Jio IPO open?

Zepto received SEBI approval in May 2026 and a July 2026 listing window is being discussed in market circles. Reliance Jio has confirmed the IPO is imminent but reports suggest the listing may come in H2 FY27. Both are worth tracking closely as dates get confirmed.

5. What do you need to apply for an IPO in India?

You need a PAN card, a bank account linked to a UPI ID or net banking with ASBA facility, and a Demat account. Platforms like Zerodha, Upstox, and Groww make the Demat account setup easy. Applications can only be submitted during the IPO subscription window — once it closes, no new applications are accepted.

This article is for informational purposes only and does not constitute investment advice. IPO investing involves market risk. Always read the Red Herring Prospectus before investing and consult a SEBI-registered financial advisor. GMP data is unofficial and not regulated by SEBI.