Upcoming IPOs in January 2026: Hero Fincorp, Fractal Analytics & BCCL
The IPO market is set for a strong start in 2026. After an active December, January is expected to see several large mainboard IPOs from different sectors like AI, finance, defence, infrastructure, and renewable energy.
Together, these IPOs may raise more than ₹23,000 crore, making January one of the busiest months for primary market investors.
1. Expected Mainboard IPOs in January 2026
The table below shows the major IPOs expected this month. Issue sizes are approximate and based on DRHP filings and market reports.
| Company | Estimated Issue Size | Sector |
|---|---|---|
| Clean Max Enviro | ₹5,200 crore | Renewable Energy |
| Fractal Analytics | ~₹4,700 crore | AI & Analytics |
| SMPP Limited | ₹4,000 crore | Defence Manufacturing |
| Hero Fincorp | ~₹3,700 crore | NBFC / Finance |
| Prestige Hospitality | ₹2,700 crore | Hotels & Hospitality |
| Bharat Coking Coal (BCCL) | ₹1,300 crore | Mining / PSU |
| Varindera Constructions | ₹1,200 crore | Infrastructure |
| PMEA Solar Tech | ₹600 crore + OFS | Solar Components |
2. Early GMP Updates
Most January IPOs are still waiting for final dates and price bands. Because of this, official GMP numbers are not active yet.
Early market discussions suggest stronger interest in AI, defence, and finance sector IPOs.
| IPO Name | Price Band | Market Interest | Status |
|---|---|---|---|
| Hero Fincorp | TBA | Positive | Awaiting Dates |
| Fractal Analytics | TBA | High Interest | Confidential Filing |
| BCCL | ₹25 – ₹28 | Moderate | DRHP Filed |
3. Sector Highlights
- AI & Tech: Fractal Analytics could set valuation benchmarks for AI companies in India.
- Renewable Energy: Clean Max Enviro and PMEA Solar show strong ESG and green-energy focus.
- Defence: SMPP Limited benefits from rising defence manufacturing under Make in India.
- Finance: Hero Fincorp attracts attention due to the Hero Group brand trust.
January 2026 IPO FAQs
Which are the biggest IPOs expected in January 2026?
Some of the biggest IPOs expected in January 2026 include Clean Max Enviro, Fractal Analytics, Hero Fincorp, SMPP Limited, Prestige Hospitality, and Bharat Coking Coal (BCCL). Together, these IPOs may raise over ₹23,000 crore.
How much money is expected to be raised through IPOs in January 2026?
January 2026 IPOs are expected to raise more than ₹23,000 crore, making it one of the most active months for India’s primary markets in recent times.
Which sectors will dominate IPOs in January 2026?
Key sectors dominating January 2026 IPOs include AI & Analytics, Renewable Energy, Defence Manufacturing, NBFC & Finance, Infrastructure, and Hospitality, reflecting diversified investor interest.
What is the GMP for January 2026 IPOs?
Most January 2026 IPOs are still awaiting final dates and price bands, so official GMP numbers are not active yet. GMP activity usually starts closer to the IPO opening date.
Which January 2026 IPOs are attracting the highest market interest?
Early market discussions suggest higher interest in Fractal Analytics (AI sector), Hero Fincorp (finance), and SMPP Limited (defence manufacturing) due to strong sector tailwinds and scalable business models.
Should retail investors prepare early for January 2026 IPOs?
Yes. Retail investors should ensure their Demat account, bank mandate, PAN details, and UPI limits are ready in advance, as multiple large IPOs opening together can increase competition and impact allotment chances.
Disclaimer: Information is based on DRHP filings and market sources. Final details may change after SEBI approval.