After a subdued 2024–25 where market caution dampened headline valuations and trading debuts, 2026 has re-ignited investor focus on India’s fintech ecosystem, not just as growth stories but as material public market opportunities. The year is shaping up for a cohort of fintech companies whose public listings could mobilize between ₹8,000 crore and ₹12,000 crore from Indian and global capital pools.&nbsp; That’s money that isn’t just about short-term listing pops; it may shape how digital finance and credit ecosystems scale in India’s next phase of financial inclusion and digital penetration. This isn’t speculative optimism, it's based on filings, regulatory approvals and pre-IPO positioning already visible in the primary market pipeline.&nbsp; 1.&nbsp; &nbsp;Phonepe At the top of the fintech list is <a href="https://www.planify.in/research-report/phonepe/">PhonePe</a>. In January 2026, India’s biggest digital payments platform secured regulatory clearance from the Securities and Exchange Board of India (SEBI) to launch a mega IPO targeted at around ₹12,000 crore through an Offer for Sale (OFS). This IPO isn’t just another listing; it represents a symbolic and strategic milestone for India’s fintech story: PhonePe owns one of India’s largest UPI payments volumes and a growing lending/wealth ecosystem. The planned issue leans on investor appetite for scale and profitability signals, rather than just user numbers. Analysts see this as a bellwether for other fintech IPOs, helping reset valuations after a cautionary dip in 2025. If PhonePe delivers anything close to ₹12,000 crore in mobilization&nbsp; it will dwarf most fintech listings in India’s history and will set the tone for the rest of the year. 2.&nbsp; &nbsp;Razorpay​ Not far behind PhonePe in investor attention is <a href="https://www.planify.in/research-report/razorpay/">Razorpay</a>. Sources reporting on its IPO preparation suggest the company is gearing up for a public debut targeting a ₹4,000–₹5,000 crore fresh issue, with merchant banks, including Kotak Mahindra and Axis Capital, involved in the early syndication process.&nbsp; Why Razorpay matters: It has evolved from a payments gateway into a full stack fintech platform, encompassing payroll, banking, lending and insurance services. Unlike some high-growth startups burning cash, Razorpay has focused on diversified monetization and regulatory compliance factors that public investors prize. Its IPO could contribute ₹4,000 crore+ to the fintech fundraising total for 2026. This kind of size matters because it signals not just a binary listing success, but institutional confidence in fintech profitability trajectories. 3.&nbsp; Aye Finance Early 2026 saw one of fintech’s most interesting pre-IPO signals, Aye Finance, an Alphabet-backed lending NBFC, successfully raised ₹454 crore from anchor investors ahead of its IPO, illustrating strong institutional backing ahead of its public market debut.&nbsp;​What makes Aye Finance stand out: It operates in the MSME lending space, a segment with substantial latent demand. Institutional anchor investments (including Goldman Sachs) suggest confidence in credit quality and growth fundamentals. While <a href="https://www.ayefin.com/">Aye Finance IPO</a> size is smaller than the mega fintech listings, it could contribute meaningfully perhaps ₹1,000–₹1,500 crore due to strong underwriter support and strategic positioning. The Mid-Sized Contenders Beyond the big names, a suite of companies, largely late-stage startups are expected to explore public listings in 2026. While not all have confirmed issue sizes yet, their presence hints at a broader fintech funding wave: OnEMI Technology Solutions (operator of Kissht): Filed IPO papers to raise ~₹1,000 crore with SEBI.&nbsp; Digital banking platforms and neo-banking plays like Niyo are rumored in the mid-2026 pipeline (though not publicly sized yet).&nbsp; Others such as PayU, PayNearby and Turtlemint have been flagged by market trackers as likely IPO candidates later in the year, focusing on payments, lending and insurance distribution.&nbsp; Collectively, these listings, if they materialize, could add another ₹2,000–₹3,000 crore to the fintech IPO tally, especially if some mid-sized listings attract strong institutional demand. What This Means for Investors and Markets The 2026 fintech IPO landscape is not just about raising capital it’s a structural moment for India’s financial infrastructure narrative: Public markets are rewarding sustainability over sheer growth, a key evolution from the earlier frothy cycles.&nbsp; Fintech companies are entering the public domain at a time when digital finance adoption is mainstream (thanks to UPI and embedded credit flows). Institutional confidence via anchor allocations and pre-IPO placements suggests a deeper appetite for quality fintech stories. Market Dynamics Ahead&nbsp; Even as these numbers excite, a few realities drawn from IPO market behaviour in recent months, underscore prudent caution: February 2026 IPO market data shows SME listings garnered strong subscription ratios while mainboard IPOs delivered modest listing gains, emphasizing selectivity.&nbsp; Valuations are being scrutinized; private market multiples don’t automatically transfer to public market pricing unless fundamentals profitability, regulatory compliance and governance are evident.&nbsp; In that sense, the real story going into fintech IPO season isn’t about hyperbole, it’s about quality and discipline. Conclusion&nbsp; The upcoming fintech IPO pipeline is less about hype and more about maturation. Payments giants, merchant platforms, and digital lenders are stepping into public scrutiny with stronger balance sheets and clearer governance frameworks. If market conditions remain supportive, 2026 could become the year fintech meaningfully reshapes India’s primary market landscape mobilizing ₹8,000–₹12,000 crore and redefining how technology-led finance is valued on Dalal Street.

he year is shaping up for a cohort of fintech companies whose public listings could mobilize between ₹8,000 crore and ₹12,000 crore from Indian and global capital pools.

Upcoming Fintech IPOs That Can Mobilize ₹8,000–₹12,000 Crore in 2026

India's logistics ecosystem is quietly expanding beyond trucking and warehouse operators. A new group of companies focused on global shipping, forwarding and air freight cargo logistics will become an important backbone of international trade. One such company that is poised and gearing up to tap the public markets is <a target="_blank" href="https://www.planify.in/research-report/skyways-air-services-pvt-ltd/">Skyways Air Services Limited</a>, which is now decided and slated to go public on March 18, 2026. Skyways Group founded by 𝗦.𝗟 𝗦𝗵𝗮𝗿𝗺𝗮 has consistently ranked among India’s top air-freight forwarders, handling large export volumes for industries like pharma, electronics, retail, and fast-moving manufacturing.&nbsp; Mr. Yashpal Sharma is now the Chairman and Managing Director and has played a significant role in the company's growth. Skyways Air Services began its journey as a custom agent (CHA), a service provider that handles customs clearance for importers and exporters. Over the decades, the company has expanded into a full-service freight forwarding and logistics platform, helping companies move goods across international borders.&nbsp; The company has reported a significant increase in revenue over the last two financial years. <ul><li style="font-size:16px;color:#222222;background-color:transparent">FY25 Revenue: ₹2,270 crore</li><li style="font-size:16px;color:#222222;background-color:transparent">FY24 Revenue:&nbsp; ₹1,316 crore</li><li style="font-size:16px;color:#222222;background-color:transparent">FY25 Profit: ₹48 crore</li><li style="font-size:16px;color:#222222;background-color:transparent">FY24 Profit: ₹34 crore</li></ul> Export-oriented sectors such as pharmaceuticals, electronics, textiles, and engineering goods have increasingly relied on air cargo logistics to meet tight delivery schedules. Today, the company operates in an emerging segment often referred to as "asset-light logistics".&nbsp; And moreover, instead of owning planes aircrafts and ships, it manages the flow of cargo in coordination with airlines, shipping companies, freight and trucking networks and customs authorities.

Skyways Air Services Limited, which is now decided and slated to go public on March 18, 2026.

Upcoming Listing: Skyways Air Services IPO to Open on March 18, 2026

Skyways Air Services Limited, whose IPO is scheduled to open on March 18, 2026.

Skyways Air Services IPO to Open on March 18: Price Band, GMP, and Key Details

Financial Performance (Q3 FY26 vs Q3 FY25):&nbsp;<a target="_blank" href="https://www.planify.in/research-report/mohan-meakin-share-price/">Mohan Meakin Limited</a> reported stable operating performance for the quarter ended 31 December 2025 (Q3 FY26). Total Revenue increased by 9.5% year-on-year (YoY) to ₹902.49 Crore, compared to ₹823.92 Crore in Q3 FY25. Profit After Tax (PAT) rose significantly by 71.5% YoY to ₹70.16 Crore, compared with ₹40.91 Crore in Q3 FY25. The strong improvement in profitability reflects better operational efficiency and cost management during the quarter. Earnings Per Share (EPS) for the quarter increased to ₹82.46, compared with ₹48.08 in the corresponding quarter of the previous year. Operational Metrics (Q3 FY26 vs Q3 FY25):&nbsp;Operational performance during the quarter showed controlled cost growth alongside higher revenue. Total expenses increased to ₹808.19 Crore, compared with ₹769.05 Crore in Q3 FY25. Cost of raw materials and components consumed stood at ₹106.3 Crore, broadly in line with the ₹85.65 Crore reported in the same quarter last year. Employee benefit expenses rose to ₹16.5 Crore, compared with ₹13.3 Crore a year earlier, while finance costs increased to ₹0.21 Crore from ₹0.17 Crore in Q3 FY25. Despite these increases, the company maintained a healthy Profit Before Tax (PBT) of ₹93.9 Crore, reflecting strong operational performance and improved margins during the quarter. Strategic Developments:&nbsp;Mohan Meakin Limited is strategically shifting towards premiumization to enhance its operating profit margins (OPM) and appeal to a younger, higher-spending demographic. Historically known for its mass-market, budget-friendly brands like Old Monk rum, the company is diversifying its portfolio by introducing premium brands in the gin, vodka, and whiskey segments.

Mohan Meakin Limited – Quarterly Financial Performance Analysis (Q3 FY26 vs Q3 FY25)

Notice is hereby given that the Extra-Ordinary General Meeting (“EGM”) of the Members of <a target="_blank" href="https://www.planify.in/research-report/kineco-share-price/">Kineco Limited</a> will be held on Monday, March 02, 2026 at 4:00 P.M. (IST) at Plot No. 41, Pilerne Industrial Estate, Pilerne, Bardez, Goa – 403511 and through Video Conferencing (“VC”)/Other Audio-Visual Means (“OAVM”), to transact the following businesses: Special Business: To consider and, if thought fit, to pass, with or without modification(s), the following resolutions: <ul><li>Appointment of Group Chief Executive Officer and Executive Director Approval for appointment of Mr. Vivek Srivastava (DIN: 09294944) as Group Chief Executive Officer and Executive Director of the Company for a period of five (5) years commencing from January 01, 2026 to December 31, 2031, not liable to retire by rotation, along with the remuneration and terms approved by the Board of Directors pursuant to Sections 196, 197, 203 and other applicable provisions of the Companies Act, 2013. </li><li>Approval of Additional Corporate Guarantee Approval for providing an additional corporate guarantee of ₹7 crore (in addition to the existing guarantee of ₹5 crore) in favour of HDFC Bank Ltd. to secure the loan facility availed by Kineco Exel Composites India Private Limited, aggregating the total guarantee amount to ₹12 crore. </li><li>Approval of Transactions under Section 185 of the Companies Act, 2013 Approval for the Board of Directors to provide loans, guarantees, or securities up to an aggregate amount of ₹25 crore to subsidiaries, associate companies, joint ventures, or other entities in which directors are interested, subject to applicable provisions of the Companies Act, 2013.</li><li>Alteration of Articles of Association Approval for alteration of the Articles of Association of the Company to enable issuance of sweat equity shares and Employee Stock Option Plans (ESOPs) subject to provisions of the Companies Act, 2013. </li><li>Approval of ‘Kineco Employee Stock Option Plan 2026’ (ESOP 2026) Approval for introduction and implementation of the Kineco Employee Stock Option Plan 2026, authorizing the Board to grant up to 1,49,395 employee stock options, each convertible into one equity share of face value ₹10, to eligible employees of the Company. </li><li>Approval for Office or Place of Profit Approval for Mr. Prashant Naik (DIN: 01866113), Non-Executive Director of the Company, to hold an office or place of profit as an employee of the Company under the terms and remuneration approved by the Board.</li></ul>Instruction At Glance <table><tbody><tr><td><div>Company</div></td><td><div>Kineco Limited</div></td></tr><tr><td><div>Mode of Meeting</div></td><td><div>Physical Venue and VC / OAVM</div></td></tr><tr><td><div>EGM Day &amp; Date</div></td><td><div>Monday, March 02, 2026</div></td></tr><tr><td><div>EGM Time</div></td><td><div>4:00 P.M. (IST)</div></td></tr><tr><td><div>Venue</div></td><td><div>Plot No. 41, Pilerne Industrial Estate, Pilerne, Bardez, Goa – 403511</div></td></tr><tr><td><div>Cut-off Date for Voting</div></td><td><div>Monday, February 23, 2026</div></td></tr><tr><td><div>Remote E-Voting Period</div></td><td><div>From Thursday, February 26, 2026 (9:00 A.M.) to Sunday, March 01, 2026 (5:00 P.M.)</div></td></tr></tbody></table>

Notice of Extraordinary General Meeting of the Members of Kineco Limited

The Indian capital markets are gearing up for one of the most anticipated IPOs in the financial sector and especially falls under the asset management sector in 2026, the IPO of SBI Mutual Fund, which is poised to transform the wealth management landscape in India and increase investor participation in passive income generation. According to the latest official commentary, the company plans to file a draft Red Herring Prospectus (DRHP) by March 2026, marking the official start of the IPO process. And the listing moment the shares are scheduled to be listed on Indian exchanges by September 2026, that is among the financial market milestones of the year. Backstory: Why the SBI Mutual Fund IPO Matters SBI Mutual is not just another big IPO candidate however it is the flagship asset management venture of State Bank of India (SBI), India’s largest bank by assets and branch network that has capacity to fund around 94,000 crore borrowers who need finances for personal and business requirements,&nbsp; Its scale and reach and expansion of branches have made it one of the most widely owned mutual fund houses in India, catering to retail investors, institutions, high-net-worth individuals and pension schemes alike.&nbsp; Interestingly, <a target="_blank" href="https://www.planify.in/research-report/sbi-mutual-fund-share-price/">SBI Mutual Fund IPO</a> is not just another IPO candidate SBI Mutual is the flagship asset management business&nbsp; that is considered to be State Bank of India (SBI) India's largest bank by assets and branch network. Its size and scope make it one of the most widely held mutual funds in India catering to both retail and institutional investors, high net worth individuals and retirement plans.&nbsp; Unlike most new IPOs , IPOs this listing will have strategic and financial implications for the wider domestic savings ecosystem. The move follows SBI’s corporate roadmap to expand capital markets participation among Indian households, while unlocking shareholder value built over decades of mutual fund growth and distribution penetration through SBI’s vast branch network. This IPO is set to occur against the backdrop of a broader 2026 primary market boom where Indian markets could witness record deal flow and capital mobilisation across sectors from telecom and financial services to technology and consumer businesses.&nbsp; SBI Mutual Fund is not a small player. It is the largest standalone asset manager in India, managing a significant portion of mutual fund assets across schemes ranging from equity to fixed income, hybrid portfolios, ELSS tax-savers and ETFs. As of late 2025, the asset management arm commanded assets under management in excess of ₹12 lakh crore, with a quarterly average AUM of nearly ₹12 lakh crore and a market share in the mid-teens percentage range for the overall industry.&nbsp; SBI Mutual Fund IPO: Financials <div class="se-component se-image-container __se__float-center" style="width: 50%; min-width: 100%"><figure style="width: 50%;"><img src="https://testing-planify.s3.amazonaws.com/sun_editor/3e4e1f8f-e34b-49d8-b805-4e36b20cbed8.png" alt="" data-rotate="" data-proportion="true" data-size="50%," data-align="center" data-percentage="50," data-file-name="image.png" data-file-size="13055" data-origin="," style="width: 100%;"></figure></div> <div class="se-component se-image-container __se__float-center" style="width: 50%; min-width: 100%"><figure style="width: 50%;"><img src="https://testing-planify.s3.amazonaws.com/sun_editor/041cf3bb-2af8-41d0-8e01-5f90ab6d0548.png" alt="" data-rotate="" data-proportion="true" data-size="50%," data-align="center" data-percentage="50," data-file-name="image.png" data-file-size="10512" origin-size="752,452" data-origin="," style="width: 100%;"></figure></div>​ What the Offer Looks Like:&nbsp; Stake Sale, Not Fresh Capital ​Unlike many corporate IPOs aimed at raising fresh capital for expansion, the SBI Mutual Fund IPO is likely to be a pure offer for sale (OFS) by its promoters&nbsp; State Bank of India and global partner Amundi. According to filings and industry reports:<ul><li style="font-size:16px;color:#222222;background-color:transparent">SBI will divest approximately 6.3% of its stake.</li><li style="font-size:16px;color:#222222;background-color:transparent">Amundi India will carve out roughly 3.7% of its holding.</li><li style="font-size:16px;color:#222222;background-color:transparent">In total, around 10% of the company’s equity is expected to be offered to the public via the IPO.&nbsp;</li></ul>The company currently manages the funds very efficiently and has significant assets under management (AUM) of nearly&nbsp; ₹12 crore and has a strong market share in the Indian mutual fund industry.&nbsp; This deep footprint across billions in retail accounts and systematic investment schemes highlights why IPOs attract sustained market attention.&nbsp; Conclusion&nbsp; The <a href="https://timesofindia.indiatimes.com/business/india-business/sbi-mf-to-file-docs-for-listing-of-rs-13-5k-crore-ipo-by-mid-march/articleshow/128531612.cms">IPO of SBI Mutual Mutual Fund</a> has emerged as one of the most watched public market events of 2026 for India’s asset management sector. DRHP is expected to open a new chapter in the wealth management sector in India with its announcement scheduled for March and expected to be rolled out by September. Investors will watch closely not just the valuation, but the broader narrative retail participation, anchor demand, market timing and how this IPO fits into the larger 2026 equity markets milieu.Ultimately, this listing is not just about unlocking value for SBI and Amundi; it is about allowing ordinary investors to own a slice of India’s financial intermediation growth story.

SBI Mutual Fund  plans to file a draft Red Herring Prospectus (DRHP) by March 2026, marking the official start of the IPO process.

SBI Mutual Fund IPO 2026: DRHP Filing in March, Listing by September

steel producers are preparing to tap public markets together with cumulative fundraising expectations in the range of ₹5,000–₹7,000 crore.

Steel Sector IPOs to Mobilize ₹5,000–₹7,000 Crore in 2026

Financial Performance (Q3 FY26 vs Q3 FY25):&nbsp;<a target="_blank" href="https://www.planify.in/research-report/parag-parikh-financial-advisory/">Parag Parikh Financial Advisory</a> Services Ltd reported a robust financial performance in Q3 FY26, with Total Income increasing by 66.42% year-on-year (YoY) to ₹169.35 crore, compared to ₹101.8 crore in Q3 FY25. This strong top line growth reflects expansion in the company’s core asset management and advisory operations, supported by higher fee income and investment-related gains.&nbsp;The company delivered substantial profitability growth, with Profit Before Tax rising to ₹131.12 crore, up from ₹84.53 crore in the corresponding quarter last year. Profit After Tax (PAT) also increased significantly to ₹98.64 crore, compared to ₹50.98 crore in Q3 FY25, reflecting strong operating leverage and improved earnings momentum. Operational Metrics (Q3 FY26 vs Q3 FY25):&nbsp;​PPFAS’s revenue growth was primarily driven by strong performance across its fee-based income streams. Fee and commission income rose sharply to ₹151.62 crore in Q3 FY26, compared to ₹101.18 crore in Q3 FY25, highlighting sustained growth in assets under management and advisory mandates.&nbsp;Net gain on fair value changes also increased significantly to ₹17.59 crore, up from ₹0.54 crore in the previous year, further supporting overall income growth. Despite higher employee and operating expenses in line with business expansion, the company maintained strong profitability, reflecting the scalability and efficiency of its asset-light business model. Strategic Developments &amp; Outlook:&nbsp;PPFAS continues to benefit from structural tailwinds in the asset management industry, supported by rising investor participation and growth in managed assets. The company’s strong increase in fee-based income and fair value gains highlights improving operational momentum and earnings visibility. With its scalable platform, strong profitability profile, and consistent growth in core income streams, PPFAS remains well-positioned to sustain its financial performance. Continued expansion in its asset management and advisory businesses is expected to support long-term revenue growth and enhance shareholder value.

Parag Parikh Financial Advisory Services: Q3FY26 Earnings Analysis

Financial Performance (Q3 FY26 vs Q3 FY25):&nbsp;​<a target="_blank" href="https://www.planify.in/research-report/frick-india-limited/">Frick India</a> Ltd reported a steady financial performance in Q3 FY26, with Total Income increasing by 7.64% year-on-year (YoY) to ₹136.97 crore, compared to ₹127.58 crore in Q3 FY25. This top line growth reflects stable demand for the company’s industrial refrigeration and air conditioning systems and continued execution across its core business segments. The company reported a Profit Before Exceptional Items and Tax of ₹14.36 crore, compared to ₹13.70 crore in the corresponding quarter last year. However, Profit After Tax (PAT) declined to ₹8.28 crore, compared to ₹10.49 crore in Q3 FY25, primarily due to the impact of an exceptional expense of ₹3.22 crore recorded during the quarter related to labour code provisions Operational Metrics (Q3 FY26 vs Q3 FY25):&nbsp;​Frick India’s revenue growth was driven by continued strength in its core manufacturing operations. Revenue from Operations increased to ₹133.91 crore in Q3 FY26, compared to ₹125.12 crore in Q3 FY25, reflecting stable order execution and demand momentum. Other Income also improved to ₹3.06 crore from ₹2.45 crore in the previous year, supporting overall income growth.&nbsp;On the cost front, total expenses increased to ₹122.62 crore, compared to ₹113.88 crore in Q3 FY25, primarily due to higher material consumption and employee-related costs in line with business expansion. Despite the exceptional expense impact, the company maintained operational profitability, highlighting the resilience of its core business model. Strategic Developments &amp; Outlook:&nbsp;Frick India continues to strengthen its operational capabilities while adapting to regulatory changes, including the implementation of new labour codes, which resulted in a one-time exceptional expense during the quarter. The company remains focused on improving efficiency, executing its order book, and enhancing profitability. With its established presence in industrial refrigeration and continued demand from core industrial sectors, Frick India remains well-positioned to sustain stable revenue growth over the long term. Its strong manufacturing capabilities and industry positioning are expected to support continued operational performance and shareholder value creation.

Frick India Q3FY26: Steady Revenue Growth, Profit Impacted by One-Time Expense

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