As the Indian stock market continues to thrive, the spotlight is shifting towards the upcoming IPOs that are set to hit the markets in 2025. With a diverse range of companies from sectors like fintech, telecom, infrastructure, and electric vehicles preparing to go public, investors are eagerly awaiting the current IPOs that could offer significant opportunities. From established giants like Reliance Jio to emerging startups like Zepto and Swiggy, these IPOs are expected to shape the market landscape in 2025. Here’s a look at some of the most anticipated upcoming IPOs in India and why they should be on your radar this year.
Major Upcoming IPOs in India for 2025
1. Reliance Jio Infocomm
- Sector: Telecom & Digital Services
- Estimated Valuation: ₹10 lakh crore (~$120 billion)
- Expected Launch: Q2–Q3 2025
- Details: As the telecom arm of Reliance Industries, Jio is set to be India’s largest-ever IPO. The company boasts over 479 million subscribers and is backed by global investors like KKR and General Atlantic .
2. Ather Energy
- Sector: Electric Vehicles (E-scooters)
- IPO Size: $352 million
- Status: IPO concluded on April 30, 2025
- Details: Ather Energy’s IPO was oversubscribed, with institutional investors leading the demand. The company plans to utilize the funds for expanding its manufacturing capacity and R&D .
3. PhonePe
- Sector: Fintech & Digital Payments
- Expected Valuation: $15 billion
- Expected Launch: 2025
- Details: Walmart-owned PhonePe is preparing for its IPO, having shifted its headquarters back to India. The company has appointed four investment bankers for the listing .
4. Zepto
- Sector: Quick Commerce
- IPO Size: $800 million–$1 billion
- Expected Launch: 2025
- Details: Zepto, a quick commerce startup, plans to file its Draft Red Herring Prospectus (DRHP) by April 2025. The company aims to tap into the growing demand for rapid delivery services .
5. JSW Cement
- Sector: Cement & Infrastructure
- Expected Launch: January 2025
- Details: JSW Cement is awaiting regulatory approval for its IPO, which is expected to launch in January 2025. The company is a significant player in India’s cement industry .
6. LG Electronics India
- IPO Size: ₹15,000 crore
- Expected Launch: March 2025
- Details: LG Electronics India plans to list over 10 crore shares through an Offer for Sale (OFS), marking one of the largest consumer electronics listings in recent years .
7. Tata Capital
- Sector: Financial Services
- Expected Launch: 2025
- Details: Tata Capital plans to raise around ₹15,000 crore through its public offering, which may include 23 crore new shares alongside an offer for sale by existing shareholders.
8. OfBusiness
- Sector: B2B E-commerce & Financing
- IPO Size: Up to $1 billion
- Expected Launch: Late 2025
- Details: OfBusiness has hired major investment banks like Axis Capital, JPMorgan, and Citi for its planned IPO. The company offers raw materials to businesses and exports food and apparel .
📊 Sectoral Insights
- Technology & Fintech: Companies like PhonePe and Zepto are capitalizing on the digital transformation in India, offering innovative solutions in payments and rapid delivery services.
- Infrastructure & Manufacturing: JSW Cement and LG Electronics India are tapping into the growing demand for infrastructure development and consumer electronics.
- Electric Vehicles: Ather Energy’s successful IPO reflects the increasing interest in sustainable transportation solutions.
- Telecom: Reliance Jio’s upcoming IPO underscores the significance of digital connectivity in India’s growth story.
🔍 How to Stay Informed
To track these IPOs and stay updated on application dates, price bands, and allotment status, consider visiting:
Would you like assistance in setting up alerts for these IPOs or guidance on how to apply once they open for subscription?
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