After a rollercoaster year in 2024, India’s IPO market is gearing up for an eventful 2025. With a mix of well-established giants and high-growth startups making their way to Dalal Street, investors are eagerly watching for the next big opportunity. Despite global volatility, the Indian stock market has shown resilience, fueling optimism for upcoming IPOs in 2025.
Industry experts believe that companies are no longer just focusing on raising capital but are also prioritizing financial stability, innovation, and ESG (Environmental, Social, and Governance) factors to attract discerning investors. According to experts, the narrative has shifted from growth at all costs to sustainable, profitable expansion.
With that in mind, here are five of the most anticipated IPOs of 2025 that investors should keep an eye on:
1. LG Electronics India IPO
One of the most awaited IPOs of the year, LG Electronics India, is finally making its market debut. The South Korean electronics giant has received final approval from SEBI and is preparing for a full Offer for Sale (OFS).
- IPO Size: Yet to be disclosed
- Lead Managers: Morgan Stanley India, J.P. Morgan India, Axis Capital, BofA Securities, and Citigroup Global Markets.
- What to Watch: LG Electronics India has a strong brand presence in the Indian market, making this a highly anticipated listing. However, since it is an OFS, all proceeds will go to the parent company rather than for business expansion.
2. JSW Cement IPO
India’s booming real estate sector is driving cement demand, and JSW Cement is ready to capitalize on the trend. Backed by the JSW Group, the company has received SEBI approval to raise ₹4,000 crore through its IPO.
- IPO Structure: Fresh issue of ₹2,000 crore + OFS of ₹2,000 crore
- Why It Matters: JSW Cement is expanding aggressively and could benefit from India’s infrastructure push. Investors should look at profitability trends and expansion plans before making a decision.
3. Tata Capital IPO
After the success of Tata Technologies’ IPO, Tata Capital is set to become the next big financial entity from the Tata Group to go public. Reports indicate that the IPO could be worth over ₹15,000 crore, making it one of the largest listings of the year.
- Investment Banks: 10 banks have been hired to manage the issue.
- Potential Valuation: One of the biggest IPOs from the Tata Group in recent years.
- Investor Interest: Given the strong reputation of Tata Group and the growth of the NBFC sector, this IPO is expected to see significant demand.
4. boAt IPO
boAt, India’s leading consumer electronics brand, is making a second attempt at going public after shelving its plans in 2022 due to unfavorable market conditions. This time, the company is targeting a ₹2,000 crore IPO.
- Expected Valuation: Over $1.5 billion
- Market Position: Strong presence in the wearables and audio electronics segment.
- What to Watch: Investors should monitor profitability trends as the company has been focusing on expansion while competing in a highly competitive market.
5. NSDL IPO
The National Securities Depository Ltd (NSDL), India’s largest depository, is preparing for a ₹3,000 crore IPO. The offering will be a complete OFS, with existing stakeholders like NSE, IDBI Bank, and HDFC Bank reducing their stakes.
- Key Concern: The IPO timeline is tight as regulatory deadlines approach.
- Industry Importance: As a critical player in India’s financial market infrastructure, NSDL’s IPO is likely to attract significant institutional interest.
The Road Ahead for IPOs in 2025
While market volatility has led to a cautious approach from promoters and investment bankers, a strong economic recovery and improved market sentiment are expected to drive a resurgence in IPO activity. Investors should stay informed and evaluate IPOs based on valuations, growth potential, and market conditions.
Other Upcoming IPOs to Watch:
- Reliance Jio – Potentially the biggest IPO in India’s history
- Zepto – Quick commerce startup aiming for a multi-billion-dollar valuation
- Ather Energy – Riding the electric vehicle boom
- PhonePe – Fintech giant backed by Walmart, eyeing a blockbuster debut
- HDB Financial Services – A long-awaited NBFC listing
With multiple high-profile IPOs lined up, 2025 could be a landmark year for the Indian stock market. Whether you’re a retail investor or an institutional player, keeping an eye on these listings could lead to exciting investment opportunities.
Disclaimer: This article is for informational purposes only and should not be considered as investment advice.
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