Is the IPO Frenzy Slowing Down? A Look Ahead to 2025
If you thought 2024 was packed with blockbuster listings, brace yourself for 2025, which is gearing up to be even bigger. Some of India’s most well-known brands and industry giants are preparing to hit Dalal Street in the coming months, and investors are waiting with bated breath. The excitement surrounding the IPO (Initial Public Offering) market is palpable, with a lineup that promises to be nothing short of thrilling.
From Reliance Jio, which could launch India’s biggest IPO ever, to LG Electronics India, finally making its market debut, and Zepto, the startup that revolutionized shopping in India, the upcoming IPOs are set to capture the attention of investors and analysts alike.
Here’s a Closer Look at the Most Anticipated IPOs of 2025
LG Electronics India
Imagine owning a piece of the company that made your first flat-screen TV. LG Electronics India has received the final nod from SEBI (Securities and Exchange Board of India) and is all set for its IPO. The offer will be a complete Offer for Sale (OFS), meaning all proceeds will go to its South Korean parent company.
LG Electronics has been a staple in Indian homes for decades, providing everything from televisions and refrigerators to air conditioners and smartphones. Now, the South Korean consumer electronics giant is bringing its Indian arm to the stock market, and investors are eager to see how this will unfold.
NSDL
India’s largest depository, NSDL (National Securities Depository Limited), is finally going public. Reports suggest that the NSDL IPO will also be a full-fledged OFS, with existing shareholders divesting their stakes instead of the company raising fresh capital. An NSDL official stated, “Our dates are expiring next month. We are rushing against time to get things done fast. We will try (to launch the IPO before that).”
Major stakeholders like NSE (National Stock Exchange) and IDBI Bank are expected to offload their shares. The only question now is whether it will launch in March or April.
Tata Capital
The Tata Group is back with another big IPO. Following the success of Tata Technologies’ IPO, Tata Capital is set to enter the stock market. Reports indicate that the company has already roped in 10 investment banks to manage the listing, and it is anticipated that the IPO could be worth ₹15,000 crore or more.
boAt
The audio giant boAt is making its second attempt at an IPO after pulling back in 2022 due to unfavorable market conditions. The company, which has changed the game in India’s audio and wearables market, is now planning a ₹2,000 crore IPO. With the Indian wearable market booming, boAt is expected to launch its IPO in the financial year 2025-2026.
JSW Cement
The real estate boom in India is fueling demand for cement, and JSW Cement is ready to capitalize on this trend. Backed by the JSW Group, the company has received final approval from SEBI for a ₹4,000 crore IPO, which will consist of a mix of fresh shares and an OFS. This cement maker is also expected to launch its IPO this year.
Reliance Jio
This could be India’s biggest IPO ever. Reports indicate that Reliance Jio is targeting a ₹40,000 crore IPO with a valuation of around $120 billion. With its vast subscriber base, dominance in 5G technology, and expansion into digital services, Jio’s IPO could be the hottest listing of the decade. However, the company has yet to make an official announcement regarding the IPO.
Zepto
Zepto, the fast-growing quick-commerce platform, is eyeing a ₹7,000 to ₹8,800 crore IPO. After shifting its base back to India, Zepto is expected to file its Draft Red Herring Prospectus (DRHP) by April 2025. With a presence in the grocery delivery space and a valuation of nearly $3.6 billion, this IPO is generating significant buzz.
Ather Energy
As India’s electric vehicle (EV) revolution gains momentum, Ather Energy is looking to make its mark. Backed by Tiger Global, the company has received SEBI approval for its IPO, which will include a ₹3,100 crore fresh issue along with an OFS. Reports suggest that this EV maker is also expected to launch its public offering in the coming months.
PhonePe
Owned by Walmart, PhonePe has emerged as one of India’s biggest fintech success stories. The company is gearing up for an IPO, although details are still under wraps. With UPI transactions hitting record highs and PhonePe dominating the digital payments space, this much-anticipated public issue is expected to launch this year.
HDB Financial Services
After years of speculation, HDB Financial Services, HDFC Bank’s non-banking financial company (NBFC) subsidiary, is finally launching its IPO. With a potential ₹12,500 crore offering, it could become India’s largest-ever NBFC listing.
Conclusion
The IPO landscape in India is set for an exhilarating year ahead, with a diverse range of companies preparing to make their market debut. From established giants like Reliance Jio and LG Electronics to innovative startups like Zepto and Ather Energy, the upcoming IPOs promise to offer investors a wealth of opportunities. As the excitement builds, all eyes will be on Dalal Street to see how these listings unfold and what they mean for the future of investing in India.