AI major Fractal and renewables firm Clean Max among big-ticket offerings lined up for the month
The primary equity markets are gearing up for a busy start to 2026 with several companies reportedly preparing to tap investors this month for over Rs 18,000 crore, headlined by artificial intelligence firm Fractal Analytics and renewable energy major Clean Max Enviro Energy Solutions.
Bharat Coking Coal Ltd (BCCL), the wholly-owned Coal India subsidiary, will get the ball rolling on January 9 with what will be the first mainboard listing of the year. The country’s largest coking coal producer is offloading a 10 per cent stake through sale of 46.57 crore shares, which is expected to mop up around Rs 1,300 crore, market sources said.
Fractal Analytics, which will be India’s first pure-play enterprise AI company to go public, is looking at a second-week January launch for its Rs 4,900-crore issue after getting the green light from SEBI. The company has structured the offering as a fresh issue of Rs 1,279.3 crore and an offer for sale of Rs 3,620.7 crore by investors including TPG Capital and Apax Partners. Set up in 2000, Fractal works with over 100 Fortune 500 firms providing AI-driven analytics and turned around from a Rs 54.70-crore loss in FY24 to post a Rs 220.60-crore profit in FY25 — a jump of over 500 per cent. The money raised will go towards paying off debt, ramping up research work and opening new offices.
Clean Max Enviro Energy Solutions, the country’s biggest provider of renewable energy to commercial and industrial clients, is readying a Rs 5,200-crore public float — Rs 1,500 crore through fresh shares and Rs 3,700 crore as offer for sale. The company helps corporates switch to clean power through turnkey development and maintenance of renewable energy plants, a business that’s picking up as firms chase sustainability goals. Proceeds from the fresh issue will clear debt at the company and its units.
Hero FinCorp, the NBFC arm of the Hero Group, has SEBI’s nod for a Rs 3,668-crore issue split between a Rs 2,100-crore fresh issue and Rs 1,568-crore offer for sale. The AA+-rated firm has built a strong franchise financing two-wheelers in smaller towns and cities across the country.
Hospitality player Prestige Hospitality Ventures from the Prestige Group stable has also got the regulatory go-ahead for a Rs 2,700-crore listing to fund debt repayment and expansion.
Among smaller listings, Gabion Technologies India is bringing a Rs 29.16-crore SME issue (Jan 6-8) at Rs 76-81 a share, while textile firm Yajur Fibres has lined up a Rs 120-crore offering (Jan 7-9) priced at Rs 168-174 per share.
Bankers said January is typically slow for IPOs, but the line-up of quality names spanning AI, green energy, finance and hospitality could draw good investor interest if market sentiment holds up through the month.
