The SEBI Annual Report FY 2025-26 highlights initiatives to prepare capital markets for quantum-era cybersecurity risks while deepening cash equity liquidity. Public equity fundraising reached Rs 2.3 lakh crore amid 366 new company listings, supported by AI supervisory technology and upgraded investor verification systems.
MUMBAI — The Securities and Exchange Board of India (SEBI) released the SEBI Annual Report FY 2025-26 on Thursday, outlining a strategic push to advance cybersecurity frontiers for quantum-era risks while deepening India’s cash equities market to drive sustained capital formation. The regulatory disclosures come as market infrastructure institutions globally navigate emerging technological vulnerabilities and seek to safeguard institutional stability amid shifting macroeconomic conditions.
The annual document details comprehensive regulatory initiatives undertaken across the financial year, emphasizing market endurance, data governance, and expanded access to primary capital for domestic enterprises.
Quantum Cybersecurity Frontiers and Supervisory Tech
In the SEBI Annual Report FY 2025-26, the regulator highlighted proactive measures designed to shield the financial ecosystem from next-generation cyber threats, specifically preparing market infrastructure for quantum-era risks. SEBI noted that long-term technology roadmaps are being developed across stock exchanges, clearing corporations, and depositories to ensure post-quantum cryptographic readiness.
Alongside cyber resilience, the regulator expanded its deployment of supervisory technology (SupTech) tools. Key developments include the deployment of Project Sudarsan to track unsolicited financial advice on digital platforms, and SEBI R(AI)DAR, an artificial-intelligence platform designed to scan market advertisements for non-compliant claims.
To address information asymmetry in investment performance disclosures, SEBI established the Past Risk and Return Verification Agency (PaRRVA), providing independent digital audits for claims made by market intermediaries.
Deepening Cash Equities to Spur Capital Formation
According to the SEBI Annual Report FY 2025-26, deepening the cash equities market remains a central policy objective to support India's broader economic goals. Total capital raised through primary market avenues reached Rs 13.6 lakh crore during FY 2025-26.
Public equity fundraising—comprising Initial Public Offerings (IPOs), Follow-on Public Offers (FPOs), and rights issues—reached a record Rs 2.3 lakh crore, marking an 11.7 percent increase over the previous fiscal year. Main board IPOs accounted for Rs 1.8 lakh crore, up 8.9 percent, while the total number of newly listed companies expanded from 320 to 366.
Key Capital Market Figures
Total Primary Mobilization: Rs 13.6 lakh crore across equity, debt, and hybrid instruments.
Public Equity Fundraising: Rs 2.3 lakh crore raised via IPOs, FPOs, and rights issues.
New Company Listings: 366 total listings across main board and SME platforms.
InvITs and REITs AUM: Assets under management stood at Rs 6.4 lakh crore for InvITs and Rs 2.4 lakh crore for REITs.
Market Structure Reforms and Risk Mitigation
The SEBI Annual Report FY 2025-26 outlines several structural reforms aimed at balancing capital access with market stability. To prevent premature equity dilution by large-scale enterprises post-listing, SEBI extended the compliance timeline for the largest issuers to achieve a 25 percent minimum public shareholding to ten years.
In the alternative investment space, the regulator reduced the minimum investment threshold for Large Value Funds under Alternative Investment Funds (AIFs) from Rs 70 crore to Rs 25 crore, while introducing accredited investor-only schemes to streamline early-stage capital flows.
In commodities and energy, the framework for electricity derivatives was launched to allow power generation and distribution entities to hedge against price volatility. Furthermore, SEBI introduced validated UPI handles and the SEBI Check facility to allow retail investors to verify authorized financial counterparties in real time.
Official Sources Section
According to official regulatory filings and market reports published by the Securities and Exchange Board of India, the Annual Report was finalized in accordance with the SEBI Annual Report Rules, 2021. Data and policy guidelines were compiled in coordination with disclosures submitted to the National Stock Exchange of India Limited and BSE Limited, under fiscal frameworks overseen by the Ministry of Finance.
Quote Section
"According to officials, the policy reforms detailed in the SEBI Annual Report FY 2025-26 represent a strategic transition from merely expanding market access to ensuring long-term market endurance amidst rapid technological advancement and global macroeconomic evolution".
Why It Matters
The regulatory emphasis on post-quantum cybersecurity ensures that stock exchanges and depository institutions remain protected against emerging cryptographic threats that could compromise transaction integrity. For corporate issuers, deeper cash equity markets provide dependable long-term financing alternative to traditional commercial banking. For retail investors, enhanced digital verification tools and independent audits of financial claims offer greater protection against unauthorized advice and fraudulent financial schemes.
Key Facts at a Glance
SEBI's Annual Report focuses on preparing financial market infrastructure for quantum-era cybersecurity risks.
Public equity fundraising reached a historic Rs 2.3 lakh crore in FY 2025-26.
A total of 366 companies listed on Indian exchanges during the fiscal year.
Project Sudarsan and SEBI R(AI)DAR were introduced as AI-driven supervisory tools to monitor illegal financial promotions.
The minimum investment threshold for Large Value Funds in AIFs was lowered to Rs 25 crore.
Frequently Asked Questions
What is SEBI's strategy regarding quantum-era cybersecurity risks?
SEBI is developing multi-year technology roadmaps across market infrastructure institutions to upgrade encryption standards and prepare clearing corporations, exchanges, and depositories for quantum computing threats.
How much capital was raised through IPOs and equity issues in FY 2025-26?
Public equity fundraising through IPOs, FPOs, and rights issues reached a record Rs 2.3 lakh crore during FY 2025-26, representing an 11.7 percent year-on-year increase.
What tools has SEBI introduced to monitor unauthorized financial advice?
SEBI introduced Project Sudarsan to track unsolicited social media stock tips and SEBI R(AI)DAR to monitor financial advertisements using artificial intelligence.
How did SEBI adjust rules for large corporate issuers?
SEBI extended the timeline for the largest listed entities to meet the mandatory 25 percent minimum public shareholding requirement to ten years.
Source: Official regulatory publications from the Securities and Exchange Board of India, with secondary exchange reporting by the National Stock Exchange of India Limited and BSE Limited. Financial market policy coordination is administered under the Ministry of Finance.
