More than half of IPO-linked capital expenditure in India in the first quarter of 2026 went into technology, cloud and network infrastructure, reflecting a broader shift in how newly listed companies are deploying capital.
The trend was visible in the composition of initial public offering
(IPO) spending patterns. Data from Uniqus Consultech shows capex accounted for about 30% of the $18,778 crore raised across 18 mainboard IPOs in the quarter. Within that, more than 50% went into technology and related infrastructure, overtaking traditional allocations such as factories, warehouses and other physical assets.
Technology-linked capex in IPOs had historically remained limited, according to Raghuram K, partner for accounting and reporting consulting at Uniqus. Tech-related spending through IPO capex was minimal in the March quarter of 2025 and stood at around R170 crore in the same period of 2024, he said.
Source: Live Mint
