Capital mobilisation through the Indian capital markets hit a record Rs 1.92 lakh crore in July 2026, significantly exceeding the 12-month average of Rs 1.12 lakh crore, according to the latest SEBI Bulletin. Equity fundraising accounted for Rs 1.14 lakh crore, or around 59% of total capital mobilisation during the month, highlighting strong corporate fundraising activity through both public and private routes.
Private-placement fundraising was a major driver of the sharp increase, surging 201% month-on-month to Rs 93,951 crore in July.
The sharp rise in private placements was led by qualified institutional placements (QIPs), which raised Rs 29,469 crore during July. This marked a 12-month high for QIP fundraising. Preferential allotments contributed an additional Rs 64,482 crore during the month. Overall, Rs 93,951 crore was raised through 127 private-placement issues in July, comprising nine QIPs and 118 preferential allotments.
The amount raised was also 164% higher than the Rs 35,637 crore mobilised through the route in July 2025. SEBI said the strong QIP activity mirrored the momentum in public offerings, with companies actively tapping multiple routes to raise capital.
Public offering activity also witnessed a substantial pickup during July.
A total of 13 mainboard IPOs raised Rs 18,349 crore, marking the highest monthly fundraising through mainboard IPOs since December 2025. The SME segment added to the fundraising momentum, with 20 IPOs raising Rs 888 crore. Five rights issues contributed another Rs 508 crore.
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Within the mainboard IPO segment, capital-market firms accounted for 43% of IPO proceeds, while industrial manufacturing companies cornered 21% of the funds raised. The sectoral distribution highlights the continued appetite among financial and industrial companies to tap the primary market for expansion and growth capital.
SEBI's analysis also highlighted an interesting trend in IPO listing-day performance. For mainboard IPOs, higher subscription levels did not necessarily translate into proportionately higher listing gains. Listing returns showed a non-linear relationship with subscription levels and appeared to plateau at around 40%.
The trend was different in the SME segment, where subscription levels showed a clearer relationship with listing performance. SME issues subscribed more than 150 times consistently outperformed, recording listing gains ranging between 40% and 90%.
However, issues with subscription levels below 20 times displayed extreme volatility. Their listing-day returns ranged from a loss of 20% to a gain of as much as 90%. The findings suggest that subscription data alone may not be sufficient to predict listing-day performance, particularly in the mainboard segment.
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