Monthly IPO Roundup: November 2026 -- October's Biggest Listings

October 2026 belonged to Asia again. In Mumbai, Jio Platforms completed the largest IPO in India's history and surged nearly 27% on debut. In Manila, GCash parent Mynt raised a Philippine-record Php 60.9 billion in a listing so popular that 140,000 of its own app users bought shares through the wallet itself. Both listings landed while the U.S. new-issue market delivered a familiar diet of small biotech deals and one African fintech.

The U.S. had no mega-listing of its own in October, but it got the paperwork for one. Anthropic made its IPO filing public on October 26 under the ticker ANT, and Renaissance Capital's October market update framed its expected mid-November debut as the main event of the season.

This is our November 2026 IPO roundup, covering October's activity. For September's listings, including Shein's flat Hong Kong debut and NSE India's $46 billion listing, see Monthly IPO Roundup: October 2026. For the deal side of October, see Monthly M&A Roundup: October 2026, where Paramount Skydance completed its $110 billion Warner Bros. Discovery takeover.

Jio Platforms: India's Largest IPO Ever Debuts Up 27%

Listed: October 28, 2026 Exchange: BSE/NSE, Mumbai Raised: Approximately $3.2 billion First-day move: +27%

Jio Platforms, the digital services arm of Reliance Industries, completed India's largest-ever IPO on October 28. Shares priced at 1,119 rupees and closed their debut session up nearly 27%. The listing crowns a decade-long build that attracted Meta and Google as minority investors and gives public markets direct exposure to India's largest telecom and digital platform business.

For brand ownership watchers, the debut creates a new publicly traded giant with its own consumer stack spanning telecom, broadband, streaming, and retail-adjacent services. See the Reliance company profile for how Jio sits inside Mukesh Ambani's empire.

Mynt (GCash): A Philippine-Record IPO Bought Through the App Itself

Listed: October 20, 2026 Exchange: Philippine Stock Exchange (GCASH) IPO price: Php 6.60 Raised: Php 60.9 billion (approximately $970 million) Market cap at listing: Php 441.5 billion (approximately $7 billion)

Mynt, the operator of the GCash mobile wallet, priced the largest IPO in Philippine history, beating Monde Nissin's roughly Php 52.2 billion record from 2021. The base offer of 8.03 billion shares at Php 6.60 raised about Php 53 billion, climbing to Php 60.9 billion once the 1.2 billion share overallotment was exercised. Only about Php 10.6 billion was fresh capital; the rest was secondary shares from 14 selling investors.

The demand mechanics were unusual. Orders exceeded allocations by 165.5%, more than 20 cornerstone investors including BlackRock, Citadel, Fidelity International, and the IFC committed roughly $500 million (about 60% of the base deal), and 140,725 GCash subscribers invested about Php 1.1 billion directly through the GCash app. President Ferdinand Marcos Jr. rang the opening bell. Shares finished their debut at Php 6.71, up 1.7%, making Mynt the seventh-largest company on the PSE.

Mynt is backed by Globe Telecom, Ant Group, and Ayala Corp. It became the Philippines' first unicorn in 2020, reached profitability in 2021, and doubled its valuation past $5 billion in a 2024 funding round. The IPO gives public investors a pure play on Philippine digital payments, lending, savings, and insurance.

Anthropic Files Publicly: The Mid-November Main Event

Filed publicly: October 26, 2026 Ticker: ANT Status: Expected to price mid-November

The most consequential October IPO event was a filing, not a debut. Anthropic publicly filed for its IPO on October 26, and Renaissance Capital's monthly update called its expected mid-November listing the main event of the season. As we covered in September, the prospectus targets a valuation of up to $2 trillion, on fiscal 2025 revenue of $4.6 billion against a $42 billion net loss and $518 billion in committed cloud and infrastructure obligations.

If Anthropic prices anywhere near target it will be the largest IPO in history, surpassing SpaceX's June 2026 debut at a $1.77 trillion valuation. The public filing also lands while OpenAI holds a confidential June filing and a 2027 timeline, making Anthropic the first of the two frontier AI labs to reach public markets. For how confidential versus public filings work, see our stock market guide for brand and consumer enthusiasts.

U.S. Listings: A Biotech Grab Bag

October's American new issues were almost entirely small biotechs with mixed results.

Lycia Therapeutics was the outlier, jumping two-thirds on debut for the month's best first-day return. The rest split between modest pops and immediate fades, echoing September's pattern of cautious pricing and weak aftermarket demand for early-stage drugmakers.

OPay (NYSE: OPAY) priced at the end of the month. The African fintech and payments company listed on the NYSE on October 30, marketing ADSs at $19 to $21 for a deal sized around $320 to $386 million. It is the month's only non-biotech U.S. listing of note and a rare Africa-focused consumer fintech on a U.S. exchange.

Source: GetBreakaway October 2026 IPO tracker, MetaCap, IPOStream.

Asia Beyond the Records

Elice had a weak debut in what has been a punishing window for AI-adjacent listings in South Korea, a reminder that the AI premium now applies selectively rather than automatically.

India's primary market stayed busy behind Jio, and the Philippines' record raise suggests Southeast Asia's IPO window is open wider than it has been in years. Between Jio's $3.2 billion and GCash's nearly $1 billion, Asia hosted two of the year's ten largest listings in a single month.

SPACs and Alternative Routes

October's blank-check activity was ordinary: several $100 million SPAC IPOs (BHAV Acquisition II, SPACCircle, TCGX Acquisition II, Frazier Life Sciences II, Pine Tree, Southport II) listed at the standard $10. May Mobility's $1.4 billion de-SPAC agreement with ACP Holdings Acquisition Corp, announced in September, remained pending as of October 31.

For background, see our guide on what a SPAC is and which brands have used one to go public.

October 2026 IPO Summary

Source: PSE, Rappler, Milbank, CNA, GetBreakaway, MetaCap, IPOStream, Renaissance Capital. Data as of October 31, 2026.

What to Watch: The November and December Pipeline

[Anthropic](/companies/anthropic) (ANT) is the headline. Its expected mid-November debut would be the largest IPO in history if it prices near the reported $2 trillion target.

Discord remains a candidate for a late-2026 listing, though no pricing date was confirmed as of October 31.

Bending Spoons already listed on Nasdaq in July at $29 per share and finished its first day up nearly 40%, so its long-awaited debut is behind us. The AOL and Evernote owner's performance is a useful comp for consumer-software listings.

OpenAI reaffirmed a 2027 timeline and is likely to watch how Anthropic trades before committing to dates.

May Mobility should complete its de-SPAC before year-end if the September timeline holds.

For the full list of brands and companies expected to go public this year, see IPO Watch: Brands Going Public in 2026.

FAQ

What was the biggest IPO of October 2026?

Jio Platforms' approximately $3.2 billion listing on October 28, which set the all-time record for an Indian IPO and rose nearly 27% on its debut. Mynt's Php 60.9 billion (~$970 million) Philippine IPO on October 20 was the second-largest by proceeds and set that country's all-time record.

Did Anthropic go public in October 2026?

Not yet. Anthropic publicly filed its IPO paperwork on October 26 under the ticker ANT. Renaissance Capital expects the listing around mid-November. The prospectus targets a valuation of up to $2 trillion, which would make it the largest IPO in history.

How did GCash's IPO compare to previous Philippine records?

Mynt's GCash IPO raised Php 60.9 billion including the fully exercised greenshoe, surpassing Monde Nissin's roughly Php 52.2 billion 2021 record. The stock closed its first day at Php 6.71, up 1.7% from the Php 6.60 offer, giving it a market cap near $7 billion and making it the seventh-largest company on the Philippine Stock Exchange.

How did U.S. IPOs perform in October 2026?

Mixed. Small biotechs dominated the calendar. Lycia Therapeutics gained 66.7% on debut for the month's best performance, while Iambic, City Therapeutics, and Amaero also finished green. Retension fell 12.3%, Bambusa fell 6.3%, Aspen Neuroscience slipped, and TRex Bio closed flat. OPay, an African payments company, was the only notable non-biotech U.S. listing.

Related Reading

• Monthly IPO Roundup: October 2026
• Monthly IPO Roundup: September 2026
• Monthly M&A Roundup: October 2026
• IPO Watch: Brands Going Public in 2026
• What Is a SPAC and Have Any Brands Used One to Go Public
• Reliance company profile
• Browse all News & Updates

Sources

1. Philippine Stock Exchange: Mynt, Inc. raises P60.9B in historic stock market debut -- https://www.pse.com.ph/mynt-inc-raises-p60-9-b-in-historic-stock-market-debut/ (October 20, 2026) 2. Rappler: GCash debuts on stock market with record P60.9-B IPO -- https://www.rappler.com/business/gcash-mynt-stock-market-debut-pse-listing-october-20-2026/ (October 20, 2026) 3. Milbank: Advises Mynt on the Largest IPO in Philippine History -- https://www.milbank.com/en/news/milbank-advises-mynt-on-the-largest-ipo-in-philippine-history.html (October 20, 2026) 4. CNA: GCash owner Mynt edges higher in record Philippine IPO amid Asian sell-off -- https://www.channelnewsasia.com/business/philippines-gcash-mynt-shares-ipo-6474091 (October 20, 2026) 5. Renaissance Capital: October IPO Market Update -- https://www.renaissancecapital.com/IPO-Center/News/122531/renaissance-capital%E2%80%99s-october-ipo-market-update (November 2026) 6. GetBreakaway: October 2026 IPOs, every listing and first day -- https://getbreakaway.com/ipo/2026-10 7. MetaCap: 2026 IPOs, full list of new stock listings -- https://metacap.si/ipos/2026/ 8. IPOStream: US IPO week, OPay, Bambusa, Aspen and Lycia's debut -- https://ipostream.com/p/opay-leads-this-weeks-ipos-oct-28-2026 (October 28, 2026) 9. Reuters: Jio Platforms completes India's largest IPO (October 28, 2026) 10. Reliance Industries: Investor relations -- https://www.ril.com/

All brand ownership data verified through WhoBrands.com research methodology. Last updated: November 6, 2026.