Is the IPO frenzy slowing down? If you thought 2024 was packed with blockbuster listings, 2025 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.
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 changed how India shops, this year’s IPO lineup is nothing short of thrilling.
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 ever flat-screen TV. LG Electronics India has got the final nod from SEBI and is all set for its IPO. The offer is a complete OFS (Offer for Sale), meaning all proceeds go to its South Korean parent company.
LG Electronics has been a part of Indian homes for decades, 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.
NSDL
NSDL, India’s largest depository, is finally going public. As per various reports, the NSDL IPO will be a full-fledged OFS, which means that the existing shareholders will divest their stakes instead of the company raising fresh capital. “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),” said the NSDL official to PTI.
The IPO will be an OFS, with major stakeholders like NSE and IDBI Bank offloading their shares. The only question now: Will it launch in March or April?
Tata Capital
Tata Group is back with another big IPO. After the success of Tata Technologies IPO, another Tata company is set to enter the stock market- Tata Capital.
As per Moneycontrol report, the company have already roped in 10 investment banks to manage the listing. Tata Capital could be the biggest Tata IPO ever. The company has already brought in 10 investment banks to manage the listing, and it is anticipated that the IPO could be worth Rs 15,000 or more.
boat
The audio giant’s second attempt at IPO, boAt changed the game in India’s audio and wearables market, offering trendy, affordable smart gadgets. Back in 2022, the company was all set to go public but pulled back due to unfavourable market conditions.
Now, boAt is making a second attempt, with a Rs 2,000 crore IPO in the works. With the Indian wearable market booming, as per reports, it is expected that the company will 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 cash in. Backed by the JSW Group, the company has received final approval from SEBI for a Rs 4,000 crore IPO, which will be 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. According to reports, Reliance Jio is targeting a Rs 40,000 crore IPO with a valuation of around $120 billion.
With its huge subscriber base, dominance in 5G, and expansion into digital services, Jio’s IPO could be the hottest listing of the decade. Although, as of now, the company has not officially announced an official statement on it.
Zepto
Zepto, the fast-growing quick-commerce platform, is eyeing a Rs 7,000-Rs 8,800 crore IPO, as per reports.
After shifting its base back to India, Zepto is expected to file its DRHP by April 2025. With a presence in the grocery delivery space and a valuation of nearly $3.6 billion, this issue is also the talk of the town, with anticipation building around its launch this year.
Ather Energy
India’s EV revolution is in full swing, and Ather Energy wants in.. Backed by Tiger Global, the company has received SEBI approval for its IPO. The offering will include a Rs 3,100 crore fresh issue along with an OFS.
As per report, this EV maker is also expected to launch its public offering in the coming months.
PhonePe
Owned by Walmart, PhonePe has been one of India’s biggest fintech success stories. Now, it’s gearing up for an IPO, though details are still under wraps.
With UPI transactions hitting record highs and PhonePe dominating the digital payments space, this much anticipated public issue is also expected on this year, as per reports.
HDB Financial Services
After years of speculation, HDFC Bank’s NBFC subsidiary, HDB Financial Services, is finally launching its IPO. With a potential Rs 12,500 crore offering, it could be India’s largest ever NBFC listing.