Prospek IPO 2026: Griya Idola, Vidio, hingga Bank Jakarta bakal go public?

Rancak Media – JAKARTA — The Indonesia Stock Exchange (IDX) aims to have 50 companies listed by 2026. Speculation is rife regarding a lineup of companies poised to undertake an initial public offering (IPO), ranging from Griya Idola to Bank Jakarta.

According to IDX data, 2025 saw 26 new issuers successfully conduct IPOs, raising a total of Rp18.11 trillion. This year, more companies are actively preparing for their own IPOs, with the IDX setting an ambitious goal of 50 new listings by 2026. For the current year, the IDX is specifically targeting at least six large-scale, or “lighthouse,” companies to debut on the stock market.

IDX President Director Iman Rachman stated that the companies identified as “lighthouse” candidates are currently in the technical preparation phase. However, he made a crucial observation: the current queue of these prominent companies does not yet include any State-Owned Enterprises (BUMNs). This suggests that the landscape for large-scale IPOs this year will likely be dominated by the private sector.

“There should be none [from BUMNs] yet; so far, there has been no process,” Iman clarified during an interview at the IDX Building in Jakarta on Friday, January 2, 2026.

Referring to the latest data from the IDX, there are currently nine companies in the pipeline for listing. Two of these companies fall into the small-scale category, possessing assets under Rp50 billion.

Additionally, one company is in the medium-scale category, with assets ranging between Rp50 billion and Rp250 billion. A significant six IPO pipeline companies are classified as large-scale, holding assets exceeding Rp250 billion.

The IPO landscape in 2026 is projected to be considerably more vibrant. Harry Su, Managing Director of Research & Digital Production at Samuel Sekuritas Indonesia, anticipates a moderate increase in corporate actions throughout the year.

This projected surge, according to Su, is attributed to a stable macroeconomic environment, the potential for interest rate reductions, and robust government investment initiatives. He specifically predicts IPOs will be the most frequently executed corporate activity, noting the Bursa’s target of 50 new issuers listing in 2026.

Beyond IPOs, Su also forecasts a rise in merger and acquisition activities, particularly within the finance, energy, and digital sectors. He attributes this increase to a growing need for consolidation and capital expansion across these industries.

Similarly, BRI Danareksa Sekuritas anticipates a more dynamic IPO trend in 2026 compared to the previous year. However, they emphasize that certain prerequisites must be met to foster an appealing ecosystem for prospective listed issuers.

Chory Agung, an analyst at BRI Danareksa Sekuritas, bases his optimistic projection for the 2026 primary stock market on the strengthening global IPO trends despite prevailing market volatility. The EY Global IPO Trends 2025 report indeed indicates an optimistic outlook for IPOs across global markets in 2026. Nevertheless, investors are expected to become increasingly selective in their choices, prioritizing profitability, robust governance, and the monetization of advanced technologies like AI.

“Indonesian IPOs are expected to be more active in 2026 compared to 2025, but will still depend on the quality of the issuers and broader market conditions,” Agung told Bisnis recently.

Rumored IPOs

Amidst the projected surge in IPO activity for 2026, numerous rumors are circulating about companies preparing to go public. Strong market speculation, for instance, points to PT Elang Mahkota Teknologi Tbk. (EMTK) potentially taking its streaming platform, Vidio, public.

This rumor gained traction following the listing of PT Superbank Indonesia Tbk. (SUPA) on the IDX in late 2025. Bernadus Wijaya, CEO of Sucor Sekuritas, noted that Vidio IPO rumors have been circulating since mid-2025. He believes that if realized, Vidio’s offering would occur at an opportune moment.

“2026 will be an interesting year because the tendency for interest rates to decline will lead investors to favor growth stocks, with the technology sector being one of them,” he stated late last year on December 29, 2025.

PT Barito Pacific Tbk. (BRPT), an issuer affiliated with Prajogo Pangestu, is also reportedly considering taking its property subsidiary, PT Griya Idola (GI), public. David Kosasih, Director of Barito Pacific, affirmed that while the company currently has no immediate plans to list Griya Idola, they are not ruling out the possibility in the future. He stressed that the Barito Group always ensures its subsidiaries are thoroughly prepared before becoming publicly listed companies.

“So, our group will truly prepare the company we intend to bring public to ensure everything is ready,” David explained during an online public expose late last year on November 12, 2025.

PT Summarecon Investment Property, a subsidiary of PT Summarecon Agung Tbk. (SMRA), is another entity rumored to be contemplating an IPO. This is not entirely new information, as SMRA’s financial report at the end of June 2024 revealed an expenditure of Rp11.13 billion for the subsidiary’s IPO costs.

Not to be overlooked, the retail and Fast-Moving Consumer Goods (FMCG) company PT Orang Tua Group is also on the IPO radar. The producer of popular brands like Tango and Teh Gelas stated that its initial public offering plan is still in the preparatory stages.

Harianus Zebua, Head of Corporate and Marketing Communication for Orang Tua Group, elaborated that these preparations encompass document completeness, financial structure, management readiness, and company valuation.

“The plan to go public is still in the preparation stage, with a timeframe we cannot yet confirm,” he stated in mid-May 2025.

Bank Jakarta is also rumored to be pursuing an IPO. According to Bisnis records, the bank, previously known as Bank DKI, has long discussed this plan. In 2024, Amirul Wicaksono, who then served as the Acting President Director of Bank DKI, mentioned that the bank had obtained an IPO principal permit in Q1 2023. However, he noted that the IPO timeline must align with supportive conditions, and a lack of such conditions led to the postponement of the plan at that time.

The Bank Jakarta IPO plan was reiterated during the launch of the company’s new name and logo. Agus H. Widodo, then President Director of Bank Jakarta, explained that the bank was internally preparing the IPO process, though its execution would heavily depend on market conditions.

“Perhaps early next year [2026], but I cannot promise. Essentially, if market conditions are supportive, we are ready,” he told Bisnis.com during Bank Jakarta’s rebranding launch in mid-2025, on June 22.

Agus further explained that the targeted funds from the IPO are estimated to reach Rp3 trillion, aligning with Bank Jakarta’s ambition to upgrade its classification from Commercial Bank Group Based on Core Capital (KBMI) 2 to KBMI 3.

“Roughly [Rp3 trillion is the targeted funds from the IPO],” Agus confirmed. Notably, the target funds from the IPO have remained unchanged from the previous year’s plan.

In other news, PT Titan Infra Sejahtera, a coal infrastructure service provider, has expressed openness to conducting an IPO. Eddy Rizal Umar, Compliance Director at Titan Infra Sejahtera, stated that the company is exploring the option of going public.

“We are just preparing. We are observing the flexibility of the situation,” Eddy remarked during a Titan Infra Sejahtera media gathering in Jakarta last year, on September 9, 2025.