Large issues drive IPO capital to $12.5bn as Nifty falls 14%

September 2026 stood out as the strongest month, with 34 main‑board IPOs raising approximately ₹39,380 crore – the highest monthly total for the year. Roughly three‑quarters of the money was raised through Offer‑For‑Sale (OFS) transactions, meaning most of the cash went to existing shareholders rather than directly to the issuing companies.