
This report covers Top 10 Mainboard IPOs of 2026 based on Qualified Institutional Buyers (QIBs) subscription levels, showcasing companies that attracted the highest demand from Qualified Institutional Buyers (QIBs).
Qualified Institutional Buyers (QIBs) are large, financially strong institutions that have the expertise to evaluate companies and invest in IPOs. QIBs include Mutual Funds, Foreign Portfolio Investors (FPIs), Alternative Investment Funds (AIFs), Banks and Insurance Companies, Provident & Pension Funds, Venture Capital Funds, Public & Development Financial Institutions (FIs/DFIs), State Industrial Development Corporations (SIDCs), Corporate Bodies, Family Offices, and similar institutional entities.
QIBs play a vital role in the IPO process. Their participation is often viewed as a strong vote of confidence in the company’s fundamentals, which can positively influence demand from other investor categories. During book-building, QIB bids are especially important because they help determine the fair price of the issue based on informed, research-driven valuations. In mainboard IPOs, a minimum of 50% of the issue size is reserved for Qualified Institutional Buyers (QIBs).
Anchor investors are a sub-category of QIBs who invest one day before the IPO opens to the public. Their early commitment provides confidence to the market and helps create positive momentum for the issue.
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