Best Stocks to Buy Before IPO in India 2026 - Top Unlisted Shares to Watch

The best stocks to buy before IPO in India in 2026 that investors are actively researching include NSE, SBI Fund Management, OYO, Zepto, Hero FinCorp and InCred Holdings. These are not automatic buy recommendations. They are high-interest pre-IPO names worth studying because they combine scale, sector relevance, IPO visibility, or private-market demand.

That said, "best stocks to buy" is the wrong starting question. A better one is: which private companies have strong business quality, reasonable valuation, visible IPO progress, and risks you can actually understand?

Which Are the Best Stocks to Buy Before IPO in India in 2026?

The best stocks to buy before IPO in India in 2026 that investors are tracking include NSE, SBI Fund Management, OYO, Zepto, Hero FinCorp and InCred Holdings. This list was selected based on business scale, IPO visibility, sector relevance, public-market interest, and the volume of investor discussion around each company.

None of these names should be treated as a ranked buy list. They are research starting points for investors who want exposure to India's private markets before companies list on NSE or BSE.

Why Invest in Stocks Before an IPO?

Pre-IPO investing lets you participate in a company's growth before it becomes publicly traded on stock exchanges. Every investment carries risk, but quality businesses can reward patient investors who enter during the private stage.

Here are the main reasons investors look at pre-IPO shares:

Early participation in business growth. Companies often spend years building scale before listing. Buying during the private stage means you are not waiting until after the IPO opens to the broader market.

Access to high-growth businesses. Many of India's fastest-growing companies stay private for extended periods. Sectors like fintech, quick commerce, hospitality, asset management, and capital markets are expanding quickly.

Portfolio diversification. Carefully selected unlisted shares can add private-market exposure beyond mutual funds and listed equities. Private and public markets do not always move in sync.

IPO listing potential. Companies with strong fundamentals often attract attention during their IPO process. Listing gains are never guaranteed, and private-market prices can already reflect IPO expectations.

Before exploring any name, compare company data, live availability, and risk disclosures on the Precize unlisted shares screener. If you are new to how private shares work, our guide to unlisted vs listed shares in India explains liquidity, price discovery, and disclosure gaps in plain language.

How to Choose the Right Pre-IPO Stock

Not every company planning an IPO is a good investment at any price. Evaluate each opportunity like a business owner, not a grey-market trader.

Strong business fundamentals. Look for sustainable revenue growth, improving profitability, scalable operations, and experienced management.

Large market opportunity. Businesses in expanding industries generally have more long-term runway.

Competitive position. Market leaders with pricing power, customer loyalty, and operational efficiency tend to hold up better through cycles.

Financial performance. Review revenue growth, EBITDA margins, profitability, cash flows, and balance sheet strength. For lenders, also check asset quality and capital adequacy.

IPO readiness. Companies that have filed a Draft Red Herring Prospectus (DRHP), received SEBI observations, or publicly confirmed listing plans offer more visibility than names with only informal IPO talk.

Use this order of IPO visibility strength:

1. Board approval or public IPO intent.

2. DRHP or confidential filing.

3. SEBI observations or approval.

4. Updated DRHP or red herring prospectus.

5. Price band, issue dates, and exchange filings.

Top 6 Stocks to Buy Before IPO in India 2026

1. NSE (National Stock Exchange)

The National Stock Exchange (NSE) is India's largest stock exchange and one of the world's leading exchanges by trading volume. It has shaped India's capital markets through electronic trading, transparent price discovery, and technology-driven infrastructure.

NSE operates across equity trading, derivatives, currency markets, debt securities, exchange-traded funds, and market data services. Its diversified revenue streams and dominant market share make it one of the most sought-after unlisted companies in India.

Why investors are watching NSE:

• Leadership in India's equity and derivatives markets.

• Rising retail participation, demat accounts, and SIP flows.

• Revenues from listing fees, market data, clearing, and technology.

• Strong profitability and cash generation.

• Potentially large public listing after years of anticipation.

Recent public reports suggest NSE received a SEBI no-objection certificate for its listing process and that the board approved an IPO through an offer for sale (OFS). Final timing depends on filings, observations, and market conditions. Official market data can be checked on the NSE India website.

For a dedicated listing update, read Precize's note on the NSE IPO and OFS structure. Buying unlisted NSE shares today does not automatically guarantee OFS participation rights.

Key risks: High private-market valuation, listing timeline uncertainty, regulatory overhangs, and dependence on market volumes.

NSE may be one of the cleaner business-quality stories in the unlisted market, but price matters. A great business can still become a poor investment if bought at an unrealistic valuation.

2. SBI Fund Management

SBI Fund Management is one of India's largest asset management companies (AMCs). It manages mutual fund schemes across equity, debt, hybrid, and passive categories, backed by the trusted SBI brand and a wide distribution network.

India's mutual fund industry has grown sharply over the past decade. Rising financial awareness, SIP investments, and expanding retail participation have pushed industry assets higher. As a leading fund house, SBI Fund Management is well positioned to benefit from these structural trends.

FY26 highlights investors should know:

• Revenue from operations grew 22.01% to ₹4,389 crore.

• Profit after tax (PAT) reached ₹3,067 crore, up 20.75%.

• Average mutual fund AUM climbed to ₹12.15 lakh crore.

• The company has filed its DRHP with SEBI.

Recent public comments suggest the listing may shift toward calendar year 2027, even though investor interest remains high in 2026. Verify final offer documents before making any decision.

Key risks: Market-linked earnings, AMC valuation sensitivity, and possible listing delay.

Asset management businesses benefit from operating leverage as rising AUM can support higher profitability. With India's mutual fund penetration still lower than many developed markets, long-term growth potential remains meaningful. Industry context is available through AMFI India.

3. OYO

OYO has evolved into one of the world's largest hospitality technology platforms, operating hotels, serviced homes, and vacation rentals across multiple countries. Rather than owning most properties, OYO follows an asset-light model by partnering with hotel owners and providing technology, branding, pricing tools, and distribution support.

Over recent years, the company has shifted toward improving profitability, operating efficiency, and premium hotel portfolio quality.

Why investors are watching OYO:

• Large consumer brand in budget and mid-market hospitality.

• Global hotel network with an asset-light operating model.

• Travel demand recovery across business and leisure segments.

• Reported SEBI approval progress for a proposed IPO.

• Improved focus on unit economics and operating discipline.

Key risks: Valuation volatility after earlier funding cycles, competitive hotel aggregation, and the need to sustain profitability.

For a deeper company-specific view, read Precize's OYO unlisted shares price and IPO update.

4. Zepto

Zepto is one of India's fastest-growing quick commerce companies, delivering groceries and everyday essentials within minutes through a network of dark stores. The company competes in a crowded market but has differentiated itself through operational efficiency, supply chain optimization, and customer experience.

Why investors are watching Zepto:

• Rapid expansion of quick commerce across major Indian cities.

• Growing urban consumer demand for convenience-driven shopping.

• Technology-enabled logistics and higher repeat customer base.

• Reported SEBI approval after a confidential IPO filing.

• Focus on balancing growth with improving contribution margins.

Key risks: Cash burn, intense competition from other quick-commerce and e-commerce players, and valuation sensitivity.

Quick commerce remains one of India's fastest-growing consumer internet segments. If Zepto continues to execute while improving profitability, it could become one of the country's most significant consumer technology IPOs. For filing and financial context, see Precize's Zepto IPO 2026 analysis.

5. Hero FinCorp

Hero FinCorp is one of India's leading non-banking financial companies (NBFCs), offering lending solutions across retail, MSME, and corporate segments. Products include two-wheeler loans, personal loans, secured and unsecured business loans, loan against property, and supply chain financing.

IPO status as of mid-2026:

• DRHP filed on 31 July 2024.

• SEBI observations received in May 2025.

• Updated DRHP filed in November 2025.

• Proposed issue size of about ₹3,668 crore (fresh issue plus OFS).

• IPO launch dates and price band still awaited.

Why investors are watching Hero FinCorp:

• Diversified lending portfolio beyond vehicle finance.

• Growing retail credit demand and MSME financing opportunity.

• Digital loan origination and strong Hero Group parentage.

• Advanced regulatory progress compared with many pre-IPO NBFCs.

Key risks: Credit quality cycles, NBFC regulation, and valuation at IPO.

6. InCred Holdings

InCred Holdings is a diversified financial services platform offering consumer lending, SME finance, education loans, wealth management, and institutional financial solutions. The company uses a technology-first approach with data analytics and digital processes for credit assessment and customer acquisition.

Why investors are watching InCred:

• Technology-led lending across multiple borrower segments.

• Diversified financial services beyond a single product line.

• IPO progression through confidential filing and Updated DRHP (UDRHP) in 2026.

• Proposed issue includes a fresh issue component plus an offer for sale (OFS).

• Exposure to India's underpenetrated credit and digital finance markets.

Key risks: Liquidity in the unlisted market, valuation discipline, asset quality cycles, and uncertainty around final IPO pricing and timeline.

InCred suits investors who want fintech and NBFC exposure with IPO visibility, but only after careful valuation work. Compare live availability through the Precize screener.

Risks of Investing in Pre-IPO Stocks

While pre-IPO investing offers access to companies before they list, the risks are real and often underestimated.

Lower liquidity. Unlisted shares cannot be sold instantly on stock exchanges. You may need to wait for a buyer or for the company to list before exiting.

IPO timelines can change. Companies may postpone, delay, or withdraw IPO plans due to market conditions, regulatory approvals, or internal decisions.

Valuation risk. Private market valuations reflect demand, company performance, and funding rounds. A higher purchase price does not guarantee strong future returns.

Limited public information. Disclosures may not be as extensive as those of listed companies, even for large private firms.

Market risk. Business performance and overall market conditions influence valuations before and after listing.

For these reasons, most investors should allocate only a limited portion of their portfolio to unlisted shares. The right allocation depends on your risk appetite, liquidity needs, and investment horizon. Common process questions are covered in our FAQs.

How to Invest in Pre-IPO Stocks in India

Investing in unlisted shares has become more accessible through regulated private-market platforms. A typical process looks like this:

1. Explore available unlisted companies and shortlist names aligned with your goals.

2. Review company financials, business fundamentals, and recent developments.

3. Compare valuation, liquidity, lot size, and transfer terms.

4. Complete KYC and place an order through a trusted platform.

5. Hold until liquidity opportunities arise, such as an IPO, buyback, or secondary sale.

On Precize, you can start with as little as ₹10,000, complete the process digitally, and receive shares in your demat account through CDSL (Central Depository Services Limited) or NSDL (National Securities Depository Limited), subject to availability.

Investors should always conduct thorough research and understand the risks before committing capital. For help with orders or platform questions, contact Precize Care. Platform support is not personal investment advice.

Final Thoughts

The best stocks to buy before IPO in India 2026 reflect how India's private markets are maturing. NSE represents market infrastructure. Zepto represents quick commerce. OYO represents hospitality technology. Hero FinCorp and InCred Holdings represent financial services innovation. SBI Fund Management represents the mutual fund growth story. Nayara Energy represents energy infrastructure. MSEI represents a speculative exchange turnaround.

Each opportunity carries a different risk profile. Before buying any unlisted share, check the latest company documents, live price, valuation, liquidity, transfer process, and IPO status. If the investment case depends only on hype, step back.

Quality unlisted shares can become meaningful wealth creators over time, but only when bought with discipline. Use research, not urgency, as your starting point.

To compare companies, documents, and availability explore unlisted companies on Precize. For ongoing IPO and private-market updates, browse the Precize blog. Stay updated with unlisted companies through our Precize Community. If this article was useful, you can share it with other investors through the Precize Referral Program.

FAQs on the Best Stocks to Buy Before IPO in India 2026

1. Which are the best stocks to buy before IPO in India in 2026?

The most widely followed pre-IPO companies in 2026 include NSE, SBI Fund Management, OYO, Zepto, Hero FinCorp and InCred Holdings. Evaluate each based on business fundamentals, financial performance, IPO visibility, valuation, and your own risk tolerance.

2. Are pre-IPO shares risky?

Yes. Pre-IPO investments involve limited liquidity, valuation uncertainty, delayed IPO timelines, and changing market conditions. Investors should evaluate these risks carefully and avoid allocating money they may need in the near term.

3. What should I consider before investing in pre-IPO companies?

Review business fundamentals, industry outlook, management quality, financial performance, competitive positioning, valuation, IPO readiness, and liquidity. Read official offer documents when available and compare live availability on a trusted platform.

4. Can retail investors invest in pre-IPO companies?

Yes. Retail investors can access eligible unlisted opportunities through regulated private-market channels, subject to applicable rules and availability. Investors can invest through Precize after completing the KYC.

Disclaimer: This content is for informational purposes only and does not constitute investment advice. Investing in unlisted shares involves risks including illiquidity and potential loss of capital. Past performance does not guarantee future results. Consult a qualified financial advisor before making investment decisions. Precize is not a stock exchange and is not regulated by SEBI. This is not a recommendation to buy or sell shares of any company mentioned in this article.