Upcoming IPOs With Shareholder Quota: Hero FinCorp, Reliance Jio, SBI Mutual Fund & More

India’s IPO pipeline for the coming months looks packed with some of the country’s most valuable and strategically important companies. From telecom giants and financial powerhouses to energy and infrastructure subsidiaries, several large names are preparing to go public.

What makes many of these IPOs even more attractive is the shareholder quota, a reserved portion of shares reserved for investors who already own shares of the parent company.

The table below shows the list of 11 upcoming IPOs in 2026 with expected shareholder quotas:

Explore other Upcoming IPOs on BSE and NSE

Overview of Each Upcoming IPO in 2026

Jio Platforms IPO

Jio Platforms is the digital and telecom arm of Reliance Industries and operates across mobile connectivity, broadband, cloud services, and digital platforms. The company has emerged as one of India’s largest digital ecosystems.

• Sector: Telecom & Digital Services
• Parent company: Reliance Industries
• IPO status: Under preparation
• Shareholder quota: Expected for Reliance shareholders

This IPO is likely to be one of the largest in India and could unlock significant value for existing Reliance investors.

Hero FinCorp IPO

Hero FinCorp is the financial services subsidiary of Hero MotoCorp, offering two-wheeler loans, MSME financing, and personal loans. The company has a strong presence in retail lending.

• Sector: NBFC
• Parent company: Hero MotoCorp
• IPO size: Around ₹3,668 crore
• Status: SEBI approval received
• Shareholder quota: Likely

Hero MotoCorp shareholders may be eligible to apply under the shareholder category.

SBI Mutual Fund IPO

SBI Mutual Fund is one of India’s largest asset management companies with a wide retail investor base and strong distribution through SBI branches.

• Sector: Asset management
• Parent companies: State Bank of India and Amundi
• IPO timeline: Expected in 2026
• Shareholder quota: Expected for SBI shareholders

The listing could be among the biggest AMC IPOs in India.

NLC India Renewables IPO

NLC India Renewables focuses on green energy generation and is part of the government’s renewable expansion plans.

• Sector: Renewable energy
• Parent company: NLC India
• IPO status: Planned
• Shareholder quota: Expected

Indian Gas Exchange (IGX) IPO

Indian Gas Exchange operates a digital platform for natural gas trading in India and complements IEX's electricity trading business.

• Sector: Energy exchange
• Parent company: Indian Energy Exchange (IEX)
• IPO timeline: Expected in December 2026
• Shareholder quota: Likely for IEX shareholders

EAAA India Alternatives IPO

EAAA India Alternatives manages alternative investment assets, including private equity, private credit, and real assets, under the Edelweiss Group.

• Sector: Alternative asset management
• Parent company: Edelweiss Financial Services
• Status: DRHP filed
• Shareholder quota: Possible

Coal India Subsidiaries IPOs

Coal India is planning to list multiple subsidiaries, potentially offering shareholder quota benefits across all issues.

Mahanadi Coalfields (MCL)

• Sector: Coal mining
• Status: Board approval received

South Eastern Coalfields (SECL)

• Sector: Coal mining
• Status: IPO clearance granted

CMPDI

• Sector: Mining consultancy
• Status: DRHP filed
  

Coal India shareholders may be eligible for shareholder reservations in these IPOs.

Belstar Microfinance IPO

Belstar Microfinance, a subsidiary of Muthoot Finance, focuses on providing microloans to underserved segments.

• Sector: Microfinance
• Parent company: Muthoot Finance
• IPO size: Around ₹1,300 crore
• Status: SEBI approval received
• Shareholder quota: Expected

What is a Shareholder Quota in an IPO?

A shareholder quota is a reserved portion of an IPO set aside for investors who already hold shares of the company’s listed parent entity. When a parent company brings its subsidiary to the public market, it may allocate a portion of the issue exclusively to its existing shareholders.

This category is separate from the regular retail segment, so eligible investors have an additional opportunity to apply for shares.

Why does a Shareholder Quota matter in an IPO?

• It can increase the probability of allotment, particularly in IPOs that see strong demand and high oversubscription.
• In most cases, holding even a single share of the parent company in your demat account before the record date is enough to qualify.
• Investors are often allowed to apply under both the shareholder quota and the retail category, improving overall chances without increasing risk.

Because of these benefits, shareholder quotas are closely monitored by investors when large, well-known groups plan IPOs of their subsidiaries.

Disclaimer: This news is solely for educational purposes. The securities/investments quoted here are not recommendatory.

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