Chennai, January 10, 2026
India’s Capital Markets See Historic Expansion, Investor Confidence at Record High
India’s capital markets have witnessed unprecedented growth over the past decade, with investor confidence reaching new highs, according to Securities and Exchange Board of India (SEBI) Chairman Tuhin Kanta Pandey.
Speaking on Saturday at the 15th International Capital Market Convention 2026, organized by the Association of National Exchange Members of India (ANMI) in Chennai, Pandey said that companies have raised ₹1.7 trillion (₹1.7 lakh crore) through 311 initial public offerings (IPOs) in the first nine months of the current financial year alone.
Investor Base More Than Triples Since 2020
Highlighting the growing depth of India’s markets, the SEBI chief said the number of unique investors has surged sharply in recent years.
FY 2020: 43 million investors
Current level: 137 million investors
Pandey noted that the pace of capital formation reflects rising retail participation, with total equity mobilization already exceeding ₹3.8 trillion in the current financial year.
Mainboard IPOs Show Strong Momentum
According to National Stock Exchange (NSE) data for calendar year 2025, mainboard IPO fundraising rose 8% year-on-year, with companies raising ₹1.72 trillion.
In terms of both volume and value, Maharashtra, Delhi-NCR, and Karnataka emerged as the leading contributors to IPO activity, underlining the geographic concentration of market participation.
SEBI Eases Compliance for Small Stock Brokers
To improve ease of doing business, SEBI has announced major changes to its framework for handling technical glitches in electronic trading systems, particularly benefiting smaller stock brokers.
Key Features of the New Framework
Revised Eligibility: The enhanced technical glitch framework will now apply only to stock brokers with more than 10,000 registered clients.
Reduced Compliance Burden: SEBI estimates that nearly 60% of stock brokers will fall outside this stricter framework, significantly lowering regulatory compliance requirements.
Relaxed Reporting Norms:
Reporting window extended from one hour to two hours
Introduction of a single reporting platform, replacing multiple exchange-specific reports
SEBI Pushes ‘Smart Regulatory Architecture’
Pandey said SEBI is building a “smart regulatory architecture” aimed at streamlining compliance and eliminating duplication.
Referring to the newly notified SEBI Stockbrokers Regulations, 2026, he explained that brokers are now permitted to diversify into activities regulated by other financial sector regulators, subject to defined safeguards.
The move is intended to encourage innovation while maintaining market integrity and investor protection.
