Asia and Gulf IPOs: Hong Kong to Tadawul — 2026-10-26
India’s IPO market reached a historic milestone this week as Reliance Jio Platforms’ ₹30,213 crore offering secured 22.19x oversubscription, setting the stage for its October 28 listing. Meanwhile, regulatory tightening in Hong Kong has led to postponed listings and heightened scrutiny, while Saudi Arabia’s Tadawul and Dubai’s financial markets are preparing for significant new listings including DIP Holding and energy sector bond issuances.
Asia and Gulf IPOs: Hong Kong to Tadawul — 2026-10-26
Top developments
India’s Jio Platforms IPO Breaks Records with Massive Oversubscription
Reliance Jio Platforms’ ₹30,213 crore (approx. $3.6 billion) mega-IPO closed on October 23 with an overall subscription of 22.19 times, surpassing Hyundai Motor India’s 2024 record to become India’s largest-ever IPO. Institutional investors (QIBs) subscribed 70 times over, while retail investors showed strong interest with the grey market premium (GMP) hovering around ₹250 per share, signaling potential listing gains of over 22% when the stock debuts on October 28.
Hong Kong IPO Momentum Slows Amid Regulatory Scrutiny
Despite Hong Kong’s IPO market being on track for a record year, momentum has slowed as stricter regulatory oversight leads to delays. At least three companies have postponed their listings since early July due to stricter reviews and weak investor demand, with the Hong Kong regulator warning banks against inflated demand figures. This regulatory tightening is testing the resilience of the city’s IPO revival, with some stocks stumbling on debut.
UAE Prepares for First Major IPO of 2026 with DIP Holding
Dubai Investments has announced plans to list 20% of its subsidiary, DIP Holding, on the Dubai Financial Market in what will be the UAE’s first major IPO of 2026. The offering involves 1.74 billion shares, with a minimum subscription of AED 5,000, marking a significant step in the region’s capital market development. Additionally, Abu Dhabi National Energy (TAQA) priced $1.75 billion in bonds, reflecting continued strong demand for Gulf energy sector debt.
Korea’s KRX Sees Mixed Performance for New Listings
South Korea’s KOSDAQ market saw mixed results for new listings this week, with AI infrastructure firm Ellis Group falling 29% on its debut despite raising over ₩10 trillion in subscription funds. Conversely, other sectors like AI and semiconductors continue to attract investor interest, with multiple companies undergoing demand forecasts. The volatility highlights the divergent performance of tech-focused IPOs in the Korean market.
Local view
India: Economic Times Highlights Jio’s Record Subscription
Economic Times Hindi reports that Jio Platforms’ IPO received overwhelming support, with QIBs subscribing 70 times over. The focus now shifts to allotment status and the grey market premium, which stands at ₹250, indicating strong investor confidence ahead of the October 28 listing. Local media emphasizes the historic nature of this offering for India’s capital markets.
Hong Kong: 21st Century Business Herald Notes Tighter Rules
21st Century Business Herald (21财经) highlights that regulatory scrutiny for Hong Kong IPOs has intensified, leading to a wave of withdrawals and delays. The outlet notes that foundation investor subscriptions are cooling, and companies are being more cautious about listing timing due to market volatility and stricter compliance requirements.
Korea: Edaily Details Upcoming KOSDAQ Listings
Edaily reports that the coming week will see T&E Korea, Intellibix, and Creitz listing on the KOSDAQ, while Xenon undergoes institutional demand forecasts. The local market is watching these AI and tech-related listings closely to gauge whether the sector can maintain its momentum despite recent volatility.
Context & numbers
- India IPO Size: Jio Platforms raised ₹30,213 crore, surpassing Hyundai Motor India’s ₹27,870 crore record from 2024.
- Hong Kong IPO Volume: HKEX raised HK$210.2 billion in H1 2026, a 92% year-on-year surge, though recent momentum has slowed.
- UAE IPO Details: DIP Holding is offering 1.74 billion shares, representing 20% of the company, with a minimum subscription of AED 5,000.
- Korea Subscription: Yeonggwang raised ₩3.29 trillion in subscription funds with a competition ratio of 684.73:1 for its upcoming listing.
On the radar
- October 28: Jio Platforms listing on Indian exchanges (NSE/BSE).
- October 26-30: Five mainboard and four SME IPOs in India aiming to raise ₹2,780 crore, including EAAA India Alternatives and BLS Polymers.
- November 3: Potential suspension of ZhiShu Technology Group (01159) in Hong Kong if listing regulations are not met.
- Upcoming Korea Listings: T&E Korea, Intellibix, and Creitz set to debut on KOSDAQ next week.
This content was collected, curated, and summarized entirely by AI — including how and what to gather. It may contain inaccuracies. Crew does not guarantee the accuracy of any information presented here. Always verify facts on your own before acting on them. Crew assumes no legal liability for any consequences arising from reliance on this content.
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