Key Details
SEBI’s Monthly Bulletin, October 2026 brings together September figures on fundraising, market performance and investor flows.
Indicator | September 2026 |
|---|---|
Total capital mobilised | ₹1,68,372 crore across equity, debt and trust structures |
IPOs | 70 issues raised ₹42,039 crore: 32 mainboard IPOs raised ₹40,355 crore and 38 SME IPOs raised ₹1,684 crore |
Mainboard IPO composition | 75% offer for sale, with proceeds going to selling shareholders |
Private debt placements | ₹1,11,586 crore, up 93% from August |
Equity-market performance | Nifty 50 fell 6.1%; Sensex fell 5.8% |
Investor flows | Foreign portfolio investors recorded ₹58,443 crore in net outflows across securities; domestic institutional investors bought a net ₹76,111 crore of equities |
Mutual funds | Equity-oriented schemes received ₹38,307 crore in net inflows, despite an overall industry net outflow concentrated in debt-oriented schemes |
Debt Placements Drove a Strong Fundraising Month
September accounted for nearly 22% of all capital mobilised in the first half of FY 2026–27. Private placements of corporate debt supplied about two-thirds of the month’s ₹1.68 lakh crore total. Equity issuance was also active, with 70 IPOs, but the aggregate fundraising figure combines instruments that serve different purposes and investors.
Most Mainboard IPO Proceeds Did Not Reach the Issuing Companies
Mainboard IPOs raised ₹40,355 crore, yet offers for sale made up 75% of their proceeds. In an offer for sale, existing shareholders sell their holdings; the company does not receive that portion to fund expansion or operations. SME IPOs showed the opposite pattern, with 94% of proceeds from fresh issuance, though they raised a much smaller ₹1,684 crore overall.
The distinction matters when interpreting an IPO surge. A high issuance total demonstrates demand for listings and an opportunity for shareholders to sell, but it does not by itself measure how much new capital businesses obtained.
Domestic Equity Buying Continued as Foreign Investors Exited
The fundraising activity took place during a sharp market decline: the Nifty 50 fell 6.1% in September. Foreign portfolio investors shifted from net inflows in August to ₹58,443 crore in net outflows across equities and debt. Domestic institutional investors, meanwhile, bought a net ₹76,111 crore of equities.
Mutual-fund flows tell a similarly divided story. Overall net outflows of ₹1,33,376 crore were concentrated in debt-oriented schemes, particularly liquid and money-market funds. Equity-oriented schemes still attracted ₹38,307 crore, up from ₹29,329 crore in August. The overall fund outflow therefore should not be read as a broad withdrawal from equity investing.
Policy Relevance
The bulletin offers two tests of capital-market depth. First, policymakers should distinguish fundraising that finances companies from transactions that transfer ownership or raise debt; the offer-for-sale share is essential to judging what an IPO boom contributes to corporate investment. Second, continued domestic equity buying alongside foreign outflows shows why the composition and durability of investor flows matter more than any single net-flow figure.
September’s divergence does not establish that domestic investors will consistently offset foreign selling, or that strong issuance will continue through a market downturn. Subsequent data on fresh-issue proceeds, debt issuance, investor participation and market conditions will show whether the month represents sustained financing capacity.
Follow the Full Bulletin Here: SEBI Monthly Bulletin, October 2026