IPO rush loses retail spark: Investors demand better valuations, listing gains

Mumbai: Retail investors are turning increasingly selective in the primary market this year. Data compiled by ET showed retail bidders did not even fully subscribe to the quota of stock earmarked for them in nearly a third of the 42 mainboard share listings, while the equity portion dedicated to this category was fully subscribed in only 30 offerings.

Furthermore, only 16 of the 42 initial public offerings (IPO) of 2026 have seen retail subscriptions exceed five times the quota. That makes up 38% of issues, down sharply from 63% in 2025, and 68% in 2024.