Indian startup IPOs to watch in Q4 2026: Jio, OYO, Zetwerk and more

Startup NewsIshaan VardhanOct 4, 20265 min read

India’s startup IPO calendar enters the last quarter of 2026 with one listing days away and several large issues cleared by the regulator but not yet priced. AceVector, the parent of Snapdeal and Unicommerce, is due to list on 5 October. Jio Platforms, OYO parent Prism and Zetwerk all hold approval from SEBI, the market regulator, but have not announced dates.

The quarter has started well. Digital lender Moneyview listed on 1 October at ₹55 a share, 61.76% above its issue price of ₹34, after a ₹1,091.68 crore IPO, according to HDFC Sky. (One crore is 10 million rupees.) Inc42’s IPO tracker counted 13 startups listed in 2026 as of 27 September.

This is a news summary, not investment advice. Read the offer document and speak to a registered adviser before you invest.

The pipeline at a glance

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Listing this week: AceVector

AceVector’s ₹420 crore IPO was open from 25 to 29 September at a price band of ₹30-32 a share. It combined ₹287 crore of new shares with a ₹133 crore offer for sale (OFS), in which existing shareholders sell part of their stake. According to HDFC Sky, the issue was subscribed 5.07 times by the close of the third day. Non-institutional investors bid for 8.53 times their quota, institutional buyers 3.42 times and retail investors 4.82 times. AceVector raised ₹189 crore from anchor investors on 24 September, shares were allotted on 30 September, and trading on BSE and NSE is set to begin on 5 October.

SEBI-approved and waiting

Jio Platforms

Reliance’s digital arm filed its draft red herring prospectus (DRHP) on 19 June. It plans a fresh issue of up to 27 crore shares and no OFS, and will use part of the money to repay borrowings at Reliance Jio Infocomm, according to Groww. SEBI issued its observations on 28 August, according to Kotak Neo. Citing Bloomberg, Kotak Neo reported that Jio planned investor roadshows in the US, Singapore, Hong Kong, London and West Asia ahead of a November listing, with a raise of up to $4 billion for about 2.9% of the company. No price band or dates had been announced as of 4 October.

OYO (Prism)

Prism filed confidentially at the end of December 2025 and received SEBI’s approval for a ₹6,650 crore issue in early June, according to India TV. The report said the IPO could value the company at $7-8 billion. Inc42’s tracker shows Prism filed its updated draft, the public version of a confidential filing, in July. OYO has shelved listing plans twice before.

Zetwerk

The manufacturing company received SEBI approval on 9 July, according to Angel One. It plans a ₹2,600 crore fresh issue plus a sale of up to 9.68 crore shares by existing investors. Outlook Business, citing Moneycontrol, reported in August that Zetwerk had begun roadshows and was aiming to launch by the end of September, though that could slip to mid-October. ₹1,250 crore of the proceeds is earmarked for repaying company debt and ₹550 crore for debt at its subsidiaries. No price band had been announced as of 4 October.

Filed or preparing to file

• Razorpay: filed a confidential draft on 12 June, aiming to raise about $316 million in new shares within an overall target of $600-700 million, according to The Paypers.
• PhonePe: revived its IPO plans after the government set out a new fee framework for UPI merchant payments. It is targeting a February-March 2027 listing at a valuation of about $10 billion, with only existing shareholders selling, according to Inc42.
• CarDekho: parent company Girnar Software planned to file for a ₹3,000-3,500 crore IPO in the July-September quarter, probably through the confidential route, Inc42 reported in July, citing The Economic Times. We could not confirm a filing as of 4 October.
• Battery Smart: the battery-swapping startup is expected to file its draft in September or October, Inc42 reported in August, citing PTI. It has raised more than $200 million and runs more than 1,500 swap stations in over 75 cities. We could not confirm a filing as of 4 October.

Inc42’s tracker also lists SEBI approvals for audio platform Kuku, mobile games maker PlaySimple and lender Fibe, none of which had announced dates. Follow new filings in our startup news.

How to track an IPO

Every Indian IPO leaves a paper trail that anyone can follow:

1. Draft red herring prospectus (DRHP). The company’s first offer document, filed with SEBI and published on SEBI’s website for public comment. It covers the business, its finances, its risks and the planned issue size. Under the confidential route, the company files privately first and publishes an updated draft (UDRHP) only after SEBI has reviewed it.
2. SEBI observations. This is the “nod” you see in headlines. The company can then launch within a fixed validity window, but it is not obliged to.
3. Red herring prospectus (RHP). Filed shortly before launch, the RHP adds the bidding dates. It is still a “red herring” because the final price is not yet fixed.
4. Price band. The company announces the minimum and maximum price a few days before bidding opens. Anchor investors bid the day before the public.
5. Bidding, allotment and listing. Bidding usually lasts three working days. Shares are allotted soon after and normally start trading about three working days after the issue closes. Subscription figures are published live on the BSE and NSE websites.

Why it matters

A Jio issue of up to $4 billion in November would test how much capital Indian markets can absorb alongside the smaller startup deals. Moneyview’s strong debut and AceVector’s oversubscription suggest investors will buy into profitable, fairly priced issues. For founders and early employees, a working IPO window makes exits more realistic, and makes later-stage investors more willing to write cheques.