Brokerage firm sees potential equity supply of $60 billion to $80 billion across sectors in the remaining nine months of the financial year 2026. As per its projections, the telecom sector is likely to witness the highest inflow, while the auto and components is likely to see the least.
Government | For the remaining nine months of the ongoing financial year 2026, Jefferies is of the view that with PSU stake sale down such as that of IDBI Bank and defence and rail companies can lead the inflow of equity by around $3 billion.
IT | The brokerage sees around $3 billion to $4 billion potential equity supply in the IT sector in the remaining nine months of this fiscal. It sees PE exits over time and small IPOs coming in.
Telecom | Jefferies sees the highest potential equity supply in the telecom sector of around $15 billion to $20 billion. A large IPO such as the possible Jio one as well as promoter exits will lead the inflow, as per the brokerage.
Banks | The brokerage sees PSU banks and small lenders leading the potential inflow of $6 billion to $8 billion in the remaining nine months of FY26.
Non-banking financial companies (NBFCs) | Jefferies has projected $4 billion to $5 billion potential equity supply in NBfCs for the remaining fiscal. It said fresh listings and private equity (PE) investor exits are likely in the remaining nine months of FY26.
NLFs | Jefferies sees the second highest potential equity supply in NLFs for the remaining period of FY26. It has projected $10 billion to $12 billion inflow in the mentioned period, saying large listings in capital market companies being the key driver.
Internet | Jefferies has forecast a potential equity supply of $10 billion to $12 billion for the internet sector as well in the remaining nine months of FY26. It said e-commerce IPO and PE exits are likely to drive the supply.
Consumer staple and disc | The brokerage has estimated a $3 billion to $4 billion equity supply in consumer staples for the rest of FY26. It said largely foreign promoter sell downs are likely the drivers for the inflow.
Auto and components | This sector is set to witness the least equity inflow of $1 billion, as per Jefferies. It has projected sell downs by PE investors and foreign promoters.
Materials and energy | Jefferies sees a $3 billion equity supply in the materials and energy sector, with renewable energy being the key driver.
Pharma | The brokerage sees a $3 billion potential equity supply in the pharma sector as well. It has projected largely stake sell downs to drive the inflow.
Infra/transport | Even split among logistics, among other drivers could lead to around $3 billion equity supply in the sector, as per Jefferies.
Property | Lastly, Jefferies sees a $3 billion potential equity supply in the property sector as well for the remaining nine months of FY26. REITs, flexi-space and small developers are likely to be the drivers for the same equally, as per the brokerage.
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