Capital Axis.

India's loudest exit month of 2026 — record block volume, the busiest IPO month of the year — and just 5.3% of the realised value came from a completed exit. Three sponsors finished with a company; the rest trimmed.

The Fed held for a fifth straight meeting and the bond market tightened anyway, one of the sharpest inter-meeting moves in two decades. The bill went almost entirely to the one asset class that cannot exist without borrowing: July's AI drawdown was a funding event, not a demand event.

In one June week, four central banks turned hawkish even as oil collapsed. That was the month the disinflation era ended, and India, hit hardest, chose to diverge.

A ₹2.25 lakh crore foreign exodus meets a $210bn sovereign-compute pledge: the bifurcation that defines India's 2026.