What happened

An analysis of initial public offering data up to 8 July 2026 shows that promoters and venture/private equity investors accounted for most of the money raised through offer-for-sale (OFS) portions of listings in the current calendar year. The share of OFS proceeds attributed to these sellers stood at 84%, compared with 95.5% in the same period of 2025.

An initial public offering is meant to raise capital, but a large share of recent issues has still gone to existing sellers rather than to fresh business funding. The analysis also notes that the mix of sellers has shifted across recent years, while more than half of listing proceeds still continue to come from OFS.

Why the issue matters