The Exit Window

India has assembled the largest exit queue in its market's history: ₹4.7 trillion of intended share sales across 238 filings, opening onto a tape foreign investors sold at record pace for most of the year. The headline is an option book, not supply — what converts is what accepts the domestic bid's price. This report sizes the live window, prices the concession, and names who gets paid.

• ₹4.72trn: The H2 2026 IPO queue · 238 companies · ≤13% converts
• 61.2%: Of IPO proceeds that were offer-for-sale, Jan 25–Aug 26
• ₹8.5 L cr: Record DII net buying FY26 — the bid that prices the queue
• $5.78bn: CY26 IPO proceeds to Aug 3 · down 21% on 2025's pace

v1.1 · August 2026 · Capital Markets · Medium confidence · 55 min read.

Cite this: Gravitywell Research. "The Exit Window." Aug 2026. https://www.gravitywellresearch.xyz/research/india-exit-window

Source: Gravitywell Research, https://www.gravitywellresearch.xyz/research/india-exit-window