Upcoming IPOs in 2025: Major Players, Exciting Sectors, and Full List of Anticipated Public Offerings

Complete List of Upcoming IPOs in India for 2025: Discover the latest IPOs from companies such as LG Electronics, Zepto, Ather Energy, and others. Keep abreast of these significant market debuts!

12/28/20244 min read

As we approach 2025, India's IPO market is poised for unprecedented growth. Following a remarkable performance in 2024, where 76 companies raised ₹1.3 trillion, projections indicate that equity raised through IPOs will surpass ₹2 trillion in 2025. This surge is driven by a robust pipeline of over 35 companies that have received SEBI approval and an additional 55 awaiting the green light. Here’s an in-depth look at the most anticipated IPOs of 2025, including LG Electronics, Zepto, Ather Energy, NSDL, and more.

Big Players Enter the IPO Arena

LG Electronics India IPO

The South Korean electronics giant, LG Electronics, is preparing for a significant IPO in 2025. The company plans to raise ₹15,237 crore through an Offer-for-Sale (OFS) of 10.1 crore shares. This offering is expected to make a substantial impact in the consumer electronics market.

Hexaware Technologies IPO

Hexaware Technologies is set to make a notable entry into the public market with a ₹9,950 crore IPO, entirely through an OFS backed by its parent company, Carlyle Group. This will mark one of the largest public offerings in the IT services sector in recent years.

NSDL (National Securities Depository Ltd) IPO

NSDL, India’s largest depository, is slated to go public in early 2025, aiming to raise ₹3,000 crore via an OFS. This IPO is anticipated to attract significant attention from investors, given NSDL's pivotal role in India's financial infrastructure.

E-Commerce IPOs to Watch

Zepto IPO

Zepto, a leading quick commerce startup, is planning to raise over USD 1 billion through its IPO. This move positions Zepto alongside major players like Zomato and Swiggy, highlighting the rapid growth and investor interest in India's e-commerce sector.

Flipkart IPO

E-commerce giant Flipkart, backed by Walmart and Google, is expected to launch its IPO by late 2025 or early 2026. This highly anticipated offering could be one of the largest in India's history, reflecting Flipkart's dominant position in the market.

Spotlight on Electric Vehicles, Cement, and More

Ather Energy IPO

Following the successful IPO of Ola Electric, Ather Energy is targeting a raise of ₹4,500 crore through a combination of fresh issues and OFS. As a pioneer in the EV sector, Ather's public offering is expected to draw substantial investor interest.

JSW Cement IPO

JSW Cement plans to raise ₹4,000 crore to expand its manufacturing capacity and reduce debt. The IPO is expected to launch in January 2025, marking a significant development in the construction materials industry.

Tata Passenger Electric Mobility (TPEML) IPO

TPEML, a subsidiary of Tata Motors, is planning an IPO in 2025 to strengthen its position in the electric vehicle market. This move underscores Tata's commitment to sustainable mobility solutions.

Financial Services IPOs in the Limelight

Avanse Financial Services IPO

The non-banking financial company (NBFC) aims to raise ₹3,500 crore, with allocations for retail investors (35%), non-institutional investors (15%), and qualified institutional buyers (50%). This IPO reflects the growing demand for diversified financial services in India.

Hero FinCorp IPO

Hero MotoCorp’s financing arm plans to raise ₹3,600 crore through a mix of fresh issues and OFS, focusing on debt reduction and expansion. This offering highlights the increasing importance of financial services in supporting automotive sales.

Canara Robeco IPO

Canara Bank’s mutual fund arm is set to dilute 13% of its stake through its IPO. This move is anticipated to enhance the company's capital base and expand its market reach.

HDB Financial Services IPO

A subsidiary of HDFC Bank, HDB Financial Services plans to raise ₹12,500 crore, positioning itself as a significant player in the financial services sector. This IPO is expected to attract considerable interest from investors seeking exposure to India's growing financial market.

Subsidiaries of Major Corporations

Several prominent companies are preparing to list their subsidiaries:

Reliance Jio IPO: Anticipated to target a valuation exceeding USD 100 billion, potentially making it the largest IPO in India's history. This offering underscores Reliance's dominance in the telecommunications sector.
HDB Financial Services IPO: Aims to solidify its position in the banking, financial services, and insurance (BFSI) sector, reflecting HDFC Bank's strategy to expand its financial services footprint.

What to Expect in 2025

With a strong investor appetite for new public offers, India has emerged as a leader in IPO volume, hosting twice as many issues as the US and 2.5 times more than Europe. The momentum is expected to continue in 2025, with IPOs coming from new-age sectors such as quick commerce, electric vehicles, and auto-tech. This robust pipeline indicates a dynamic investment environment, offering diverse opportunities for investors and signaling sustained growth in India's capital markets.