Harsh Batra
India’s IPO market took centre stage this week, with Reliance’s Jio Platforms opening its $3.2 billion offering to investors.
The listing drew anchor-book bids topping $25 billion, and Reliance tapped much of its workforce to help push the record raise over the line, even as commentators questioned whether Jio’s appeal extends to India’s younger investors.
Jio wasn’t alone. Paras Healthcare raised ₹652.5 crore via its anchor book ahead of a ₹1,450 crore listing, Zetwerk’s IPO was subscribed more than three times on its final day, and Fusion CX’s issue was covered 4.4 times by Day 3.
M&A activity was quieter by comparison, with the tracker logging 17 deals this week. Read on to discover all the latest on IPOs, deals, and rumours.
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Weekly summary | October 22, 2026
This week’s headline wasn’t a deal, but a listing. Reliance’s Jio Platforms opened India’s largest-ever IPO, aiming to raise $3.2 billion, and drew anchor-book bids topping $25 billion.
Elsewhere, the tracker logged 17 M&A transactions. Healthcare and energy led the field, with four deals apiece: Sagility’s US arm bought Tennessee-based Chirok Health for $32.35 million, Mapmygenome completed its acquisition of Canada’s dnaPower, and Switzerland’s Cotecna picked up Hyderabad’s Energon Labs.
On the energy side, Transrail Lighting entered solar generation with a ₹20 crore stake in NOPL Pace Green, KPI Green’s Sun Drops Energia lifted its DMGEL holding to 88.37%, and Chambal Fertilisers and Jindal Stainless both took stakes in renewable project SPVs.
It was also a bumper week for India’s IPO market. Jio wasn’t alone: Paras Healthcare, Zetwerk and Fusion CX all drew strong subscriptions, SEBI cleared four fresh listings including Cult.fit, and Carlsberg and VVDN Technologies both edged closer to filing their own India offerings.
Rumour mill
- Paul John may retain 10-20% stake in John Distilleries after Sazerac takeover
- Grauer & Weil Enters Solar JV MoU with RENA
- Can Venture Catalysts, LVX beat the benchmark in exit from restaurant chain?
- Volume shockers: Jana Small Finance tumbles 14%; Federal Bank soars 5%
- KKR to invest over ₹6,000 crore in Petronas India RE arm
- Indiqube Spaces Board Reshuffle, Approves ₹35 Crore Investment
- Exclusive: MakeMyTrip in talks to acquire Quick Ride through redBus
- Dachepalli Publishers H1 FY27 Revenue Up 72%
- Avalon Technologies Incorporates Zollner JV Subsidiary
- Adroit Infotech Announces Majority Stake Acquisition in Verso Altima
Regulatory
Job moves
- Mahindra Manulife Insurance appoints Nilesh Kothari as CFO
- 3M India announces resignation of Non-Executive Non-Independent Director
- IndusInd General Insurance appoints Sharad Mathur as MD & CEO
- HP Telecom Appoints Dr Garima Mishra as CEO
- Bank of America’s Sonali Sharma joins Barclays India as Managing Director and Head of Legal
- Celloraa Energy Appoints Mr. Anil Bhadauria as Chief Executive Officer as Company Advances 1.2 GW TOPCon Solar Cell Manufacturing Facility in Surat, Gujarat
- Archana Balaraman joins Tata Consumer Products as SVP & Business Head, Organic India
- Next HDFC CEO’s 1st task: A new team amid exits of veteran executives
- Intimation of resignation of Non-Executive Non-Independent Director of the Company
- HDFC Bank deputy MD Kaizad Bharucha to step down on December 31
- Axis Bank appoints former HDFC Bank veteran Rahul Shukla to head Commercial, Bharat Banking
- Magicbricks names ex-CarDekho executive Mayank Jain as CEO, effective Oct 1
- Fairfax ropes in Deepak Parekh, Paresh Sukthankar as advisers to IDBI Bank
- Vodafone Idea appoints Manoj Murali as COO
- Magicbricks appoints Mayank Jain as CEO
- Federal Bank appoints Cognizant’s Rajesh Varrier as independent director
- Datamatics Appoints Dr. Rajesh Gharpure as President & Chief Operating Officer to Accelerate AI-led Growth.
IPOs
- Paras Healthcare IPO opens for subscription
- IPO-bound Sathya Agencies plans to strengthen presence in Karnataka
- Investors flood to Jio IPO on day one of India’s largest offering
- International Finance Corporation-backed Crystal Crop Protection cuts IPO size
- HD Fire Protect shares list at 23% premium; expert highlights key factors to watch
- Fox & Mandal advises Tenty Limited on proposed IPO
- EAAA India Alternatives fixes price band for Rs 1,200 IPO; issue opens on October 26
- Carlsberg Said to Near Public Filing for $700 Million India IPO
- SFC Environmental Technologies IPO to open on October 27, plans to raise fresh capital of Rs 150 crore
- Paras Healthcare mobilises Rs 652.5 crore via anchor book, Rs 1,450-crore IPO to open on October 21
- OYO parent PRISM to cut IPO fresh issue by nearly half to Rs 3,350 crore: Sources
- Seshachal Technologies EGM Approves Preferential Issue, Investment
- India’s Jio lures marquee investors to IPO anchor book, bids top $25 billion
- Zetwerk’s IPO subscribed over 3 times on final day
- Jio’s $3.2 Billion IPO Tests Ambani Appeal With India’s Gen Z
- IIFCL, two Coal India units to list on D Street in FY27: Dipam Secretary
- Hunger Pangs IPO: Burma Burma operator files DRHP, plans Rs 150 cr through fresh issue
- Kanga & Co acts on Shankesh Jewellers ₹367 crore IPO
- Cult.fit gets Sebi nod for Rs 3,500-4,000 crore IPO
- Ambani Taps Massive Reliance Workforce to Boost Jio’s Record IPO
- SEBI Approves Four IPOs Including Cult.fit, Sohan Lal Commodity Management
- Fusion CX IPO Day 3: Issue subscribed 4.4 times. Check GMP, other details
- VVDN Technologies Said to Consider Up to $300 Million India IPO
Fundraising
- Healthtech startup Curebay raises Rs 100 crore funding led by IvyCap Ventures
- GrowthCap Ventures Backs LogiXair to Build India’s Autonomous Aerial Cargo Network
- The Pant Project raises Rs 109 crore in Series B led by Mirae Asset
- Even Healthcare raises $50 mn in Khosla Ventures-led Series B funding
- Ashish Kacholia leads Greenzo Energy funding round, taking valuation past ₹1,000 crore
- ETtech Deals Digest: Boldfit, GreenCell lead as weekly funding hits $232 million, down 45% on-year
- Exclusive: CapGrid kicks off pre-Series B round at 50% valuation premium
- Alpha Alternatives raises over Rs 6,000 crore for first infrastructure fund
- AI startup Simplismart: AI startup Simplismart in talks to raise $40-50 million; valuation may triple
