India’s stock market is gearing up for an exciting phase, with several high-profile companies preparing to go public in 2025. Initial Public Offerings (IPOs) offer investors a unique opportunity to participate in a company’s growth story from its early stages. From fintech and e-commerce to electric vehicles and telecom, a wide array of industries are expected to launch IPOs in the coming months.
What is an IPO?
An Initial Public Offering (IPO) is the process by which a private company offers its shares to the public for the first time, allowing investors to buy ownership in the company. IPOs serve multiple purposes:
- Raising capital for expansion, debt repayment, or technological advancements
- Enhancing the company’s brand visibility and credibility
- Providing early investors and promoters with an exit opportunity
For investors, IPOs present a chance to invest in high-growth companies before they become fully established in the stock market. However, IPOs also come with risks, including volatility and potential overvaluation.
Why Do IPOs Matter to Investors?
Investing in IPOs can be highly rewarding, but it also requires careful consideration. Many IPOs deliver substantial returns upon listing, while others struggle due to overpricing or market fluctuations. Key factors influencing IPO performance include:
- Market Sentiment: Bullish markets generally lead to strong IPO performances, while bearish conditions can negatively impact listings.
- Company Fundamentals: Revenue growth, profitability, and industry position determine the long-term success of an IPO.
- Industry Trends: Businesses operating in high-growth sectors like EVs, fintech, and digital services often attract significant investor interest.
Major Upcoming IPOs in India (2025)
India’s IPO pipeline for 2025 includes some of the country’s biggest names across multiple industries. Here’s a look at the most anticipated IPOs:
1. Zepto IPO
- Industry: Quick Commerce
- Expected Issue Size: Over $1 billion
- Significance: Zepto, a leader in India’s quick commerce segment, is set to file draft IPO papers by March or April 2025. The company plans to use the funds to strengthen its market position and expand its hyperlocal delivery network.
2. Ola Electric IPO
- Industry: Electric Vehicles (EV)
- Expected Issue Size: ₹7,500 crore
- Significance: As India shifts towards electric mobility, Ola Electric is at the forefront of the revolution. IPO proceeds will likely be used for manufacturing expansion, R&D, and charging infrastructure development.
3. Swiggy IPO
- Industry: Food Delivery & E-Commerce
- Expected Issue Size: ₹10,000 crore
- Significance: As one of India’s largest food delivery companies, Swiggy’s IPO will help it expand its services, including Instamart (its quick-commerce grocery delivery arm), while competing with Zomato.
4. FirstCry IPO
- Industry: E-commerce & Retail
- Expected Issue Size: ₹5,000 crore
- Significance: FirstCry, India’s largest online marketplace for baby products, is set to benefit from the booming e-commerce sector. The IPO is expected to attract strong investor interest due to the brand’s dominance in the niche retail segment.
5. MobiKwik IPO
- Industry: Fintech
- Expected Issue Size: ₹1,900 crore
- Significance: Competing with Paytm and PhonePe, MobiKwik offers digital payment solutions and Buy Now, Pay Later (BNPL) services. The IPO proceeds will support technology expansion and customer acquisition.
6. Tata Technologies IPO
- Industry: Engineering & IT Services
- Expected Issue Size: ₹4,000 crore
- Significance: A subsidiary of Tata Motors, Tata Technologies provides IT and product development services to the automobile and aerospace sectors. Given Tata’s brand strength, the IPO is expected to be highly subscribed.
7. HDB Financial Services IPO
- Industry: Financial Services (NBFC)
- Expected Issue Size: ₹12,500 crore
- Significance: A subsidiary of HDFC Bank, HDB Financial Services is going public to comply with RBI regulations. The IPO will be a mix of fresh issues and Offer for Sale (OFS), providing liquidity to existing investors.
8. Tata Capital IPO
- Industry: Financial Services
- Expected Issue Size: ₹15,000 crore (~$2 billion)
- Significance: Tata Capital is preparing for a significant IPO to meet RBI norms, aiming to raise capital through both primary and secondary share sales. This IPO will likely draw strong interest from institutional and retail investors.
9. JSW Cement IPO
- Industry: Infrastructure & Construction
- Expected Issue Size: To be determined
- Significance: JSW Cement is awaiting SEBI approval and is expected to go public by early 2025. As India’s construction and infrastructure sectors continue to grow, this IPO could be a key player in the industry.
10. LG Electronics India IPO
- Industry: Consumer Electronics
- Expected Issue Size: To be determined
- Significance: As one of India’s most trusted electronics brands, LG Electronics India’s IPO will attract attention from both retail and institutional investors. The company aims to strengthen its market leadership and manufacturing capabilities.
11. Ather Energy IPO
- Industry: Electric Vehicles (EV)
- Expected Issue Size: To be determined
- Significance: Ather Energy, a leading electric two-wheeler manufacturer, is expected to issue its IPO in 2025. The company is well-positioned to benefit from India’s EV boom.
12. National Securities Depository Limited (NSDL) IPO
- Industry: Financial Services
- Expected Issue Size: To be determined
- Significance: NSDL, a key player in securities depository services, plans to go public in 2025, further strengthening India’s financial market infrastructure.
13. Reliance Jio IPO
- Industry: Telecom & Digital Services
- Expected Issue Size: To be determined
- Significance: Reliance Jio’s IPO is among the most anticipated offerings. As India’s leading telecom company, Jio is expected to use the proceeds for 5G expansion, broadband services, and digital ecosystem growth.
Key Trends Driving India’s IPO Market
Several factors contribute to the growing number of IPOs in India:
- Economic Growth: India’s expanding economy is creating opportunities for companies to raise funds and scale operations.
- Retail Investor Boom: More individual investors are participating in stock markets, driving demand for IPOs.
- Digital & Tech Advancements: Companies leveraging technology, fintech, and e-commerce are seeing increased investor interest.
- Regulatory Compliance: RBI regulations are pushing non-banking financial companies (NBFCs) to go public.
Risks Associated with IPO Investments
While IPOs offer potential high returns, they also come with risks:
- Market Volatility: Stock price fluctuations can impact listing-day performance.
- Overvaluation: Some IPOs may be overpriced, leading to post-listing corrections.
- Lock-in Periods: Promoters and early investors may have a lock-in period, affecting stock liquidity.
Tips for Investing in IPOs
- Read the Red Herring Prospectus (RHP) for company insights.
- Evaluate financial performance, growth potential, and industry competition.
- Consider market trends and regulatory risks.
Final Words
India’s IPO landscape in 2025 presents a mix of opportunities across multiple sectors, from fintech and e-commerce to telecom and electric vehicles. While IPOs can be a valuable addition to an investment portfolio, thorough research and due diligence are essential.
Whether you’re a seasoned investor or a beginner, understanding each company’s fundamentals and long-term potential will help you make informed decisions and maximize returns.
