Which Upcoming IPOs Are Worth Watching This Month

Finding the right entry point into the equity market requires more than just capital; it requires timing and a keen eye for quality. As we move through January 2026, the primary market is buzzing with a renewed energy that suggests a record-breaking year ahead for listings. 

For any investor looking to diversify their portfolio, keeping a pulse on which upcoming IPOs are worth watching this month is the first step toward making informed decisions in a high-stakes environment.

The start of 2026 has brought a wave of liquidity back into the markets, and the IPO pipeline is currently sitting at an estimated value of over ₹4 lakh crore. 

This surge is driven by a mix of technology giants, renewable energy firms, and established financial institutions that have spent the last two years refining their unit economics. Investors are no longer just looking for growth; they are looking for sustainable profitability and clear market leadership.

The Landscape of Upcoming IPOs in January 2026

The current month is particularly interesting because it serves as a bridge between the SME-heavy end of 2025 and the mega-listings expected in the first half of 2026. 

Whether you are a retail investor or a seasoned professional, the diversity of the current offerings provides multiple entry points across different risk profiles.

This month has already seen major activity from names like Bharat Coking Coal and Shadowfax Technologies, setting a high bar for the remaining weeks.

1. Regulatory Speed and Market Efficiency

SEBI has recently cleared the way for several major companies, showing a pro-listing stance that reduces the waiting period between filing and listing. This efficiency allows companies to tap into favorable market conditions quickly, which is a significant factor when considering which upcoming IPOs are worth watching this month.

2. Sector Rotation Toward Sustainability

There is a clear shift toward "Green Energy" and "Enterprise AI," moving away from the purely consumer-focused models of the past. Investors are prioritizing companies that offer essential infrastructure or specialized B2B services, as these tend to have more resilient revenue streams during economic shifts.

3. Secondary Market Stability

With the main indices showing resilience, the "listing gain" sentiment remains high, encouraging companies to price their issues competitively. This stability provides a safety net for new listings, ensuring that there is enough liquidity to support large-scale public offerings without causing massive price volatility.

Top 10 IPOs to Watch: January 2026

When identifying which upcoming IPOs are worth watching this month, it is essential to categorize them by their market impact and sector relevance. We are seeing a significant trend where legacy players are spinning off their subsidiaries to unlock value. This month, several names stand out due to their massive issue sizes and strong parentage.

• Fractal Analytics (Mainboard): The most anticipated listing of the year. As India’s first pure-play AI unicorn to hit the public markets, its ₹4,900 crore issue is a litmus test for enterprise AI valuations.

• Bharat Coking Coal Ltd (BCCL): A blockbuster PSU spinoff from Coal India. This 100% Offer for Sale (OFS) closed in mid-January with a massive 143x subscription, signaling deep investor trust in "Old Economy" cash cows.

• Hero FinCorp Financial Services: A critical financial arm of the Hero Group. Its ₹3,668 crore issue aims to bolster Tier-1 capital for expanding its massive MSME and two-wheeler loan books.

• Clean Max Enviro Energy: Backed by Brookfield, this company recently adjusted its IPO size to $350–400 million (approx. ₹3,200–₹3,600 Cr) to align with current renewable sector valuations, targeting a late January or early February debut.

• Shadowfax Technologies: A key logistics player for the quick-commerce era. Its ₹1,907 crore issue closed on Jan 22, serving as a significant benchmark for tech-enabled supply chain firms.

• Amagi Media Labs: A cloud-native SaaS leader for broadcasting. Its ₹1,788 crore IPO was oversubscribed 30x, proving that high-margin SaaS models still command a premium.

• Gabion Technologies (SME): A niche player in the geotechnical space that launched in early January, targeting specialized infrastructure projects.

• Yajur Fibres (SME): A textile-focused issue that raised ₹120 crore, reflecting the continued retail appetite for the SME segment.

• Shayona Engineering (SME): Opening in the final week of January (Jan 27), this IPO focuses on heavy engineering and manufacturing.

• Hannah Joseph Hospital (SME): Also opening Jan 27, this healthcare listing highlights the trend of regional multi-specialty hospitals going public to fund expansion.

Detailed Comparison of Top Upcoming Listings

To better understand which upcoming IPOs are worth watching this month, it helps to look at the numbers side-by-side. The following table outlines the key metrics for the most prominent mainboard issues currently in focus for January 2026.

How to Apply for IPO and Maximize Your Chances

Knowing how to apply for an IPO effectively is just as important as knowing which companies to pick. The process has become incredibly streamlined thanks to UPI-based applications, but there are still strategic nuances that can improve your allotment probability. For a retail investor, the goal is often just to get a foot in the door during a highly oversubscribed issue.

1. Opening a Unified Demat and Trading Account

The first step is ensuring you have an active Demat account with a reputed broker. This account acts as the digital vault for your shares. Most modern platforms allow you to complete your KYC in minutes, enabling you to participate in the primary market almost immediately.

2. Using the UPI Mandate System

The most common way to apply for an IPO is through the ASBA (Applications Supported by Blocked Amount) process via UPI. When you place a bid, the funds are not debited from your account; they are merely blocked. This ensures you continue to earn interest on your savings until the allotment is finalized.

3. Bidding at the Cut-off Price

To increase your chances of allotment in a popular issue, always select the "Cut-off Price" option. This indicates that you are willing to buy the shares at whatever final price the company decides within its price band. If you bid a specific lower price and the final price is higher, your application will be automatically rejected.

4. Diversifying Applications Across PANs

Applying for multiple lots from a single account does not increase your chances of allotment in the retail category if the IPO is oversubscribed. A better strategy is to apply for an IPO using the accounts of different family members, as each PAN is treated as a unique applicant in the lottery process.

Evaluating IPO Quality: What to Look For

If you are trying to decide which upcoming IPOs are worth watching this month, you must look past the marketing brochures. A successful investment isn't just about getting an allotment; it's about the company's performance six months after the listing.

Always look at where the "Fresh Issue" money is going. If a company is using the funds to pay off high-interest debt or invest in R&D, it is generally a positive sign. However, if the majority of the issue is an "Offer for Sale" (OFS), it means existing promoters are cashing out, which requires more scrutiny of the remaining leadership.

Valuation is the ultimate deal-breaker. Even a great company is a bad investment if it is overpriced. Compare the Price-to-Earnings (P/E) ratio of the upcoming IPO with established listed peers in the same sector. If the new entrant is asking for a premium without a significantly higher growth rate, it may be a valuation trap.

Before an IPO opens to the public, large institutional investors (anchors) get a chance to buy in. A strong list of anchor investors, including reputable mutual funds and sovereign wealth funds, acts as a vote of confidence in the company’s business model and pricing.

Conclusion

The first month of 2026 has set a strong tone for the financial year. By identifying which upcoming IPOs are worth watching this month, you can position yourself in sectors that are primed for long-term growth, such as Enterprise AI, Green Energy, and robust Financial Services. The key is to balance the excitement of new listings with the discipline of fundamental analysis.

Always read the Draft Red Herring Prospectus (DRHP) to understand the underlying risks and ensure the company's goals align with your own investment horizon. Success in the IPO market belongs to those who do their homework rather than those who follow the crowd.

If you want to stay ahead of market trends and gain deeper insight into company valuations, discvr.ai offers tools built for the modern investor. Alongside advanced analytics, the platform also helps investors evaluate liquidity options like Loan Against Mutual Funds—allowing portfolios to stay invested while remaining financially flexible.