India is on course for a blockbuster IPO season in 2025. With $6.7 billion raised so far this year—already outpacing 2024’s $5.4 billion—and a fresh pipeline estimated at $18 billion in the second half, expectations are high for domestic listings from Tata Capital, LG Electronics India, Meesho, Groww, NSDL, and others IPO Watch+3Financial Times+3Silicon India+3. The NSE now ranks 4th globally for H1 CY25 IPO fundraising, with ₹51,150 crore from 119 IPOs—up from ₹37,682 crore in H1 2024 Fortune India.
This boom is driven by cuts in RBI interest rates, rising domestic investor confidence, and strong capital market sentiment .
🔍 Key Trends Driving the IPO Wave
- Diverse Industry Spread: From telecom and fintech to real estate, EVs, and hospitality.
- Big-ticket Deals: Major listings from LG, Tata Capital, Reliance Jio, Meesho.
- SME / SME REITs: Increasing interest in smaller companies and REITs.
- Sectoral Growth: Renewables, pharmaceuticals, hospitality are gaining traction Marksmen Daily+13Rediff+13Silicon India+13Upstox – Online Stock and Share Trading+4website+4IPO Platform+4The Economic Times.
📊 Notable Upcoming IPOs — Quick Overview
| Company | Sector | Issue Size (₹ crore / US $) | IPO Dates (Jul 2025 if known) |
|---|---|---|---|
| Property Share Investment Trust (PropShare Titania) | SME REIT (real estate) | ₹473 cr | July 21–25 ipoinsider.info+10IPO Central+10The Economic Times+10 |
| Anthem Biosciences | Pharmaceuticals | ₹3,395 cr | July 14–16 |
| Spunweb Nonwoven (SME) | Textiles | ₹61 cr | July 14–16 |
| Monika Alcobev | Liquor distribution | ₹165.6 cr | July 16–18 |
| Smartworks Coworking | Commercial real estate | ₹583 cr | July 10–14 |
| Travel Food Services (TFS) | Travel hospitality | ₹2,000 cr | July 7–9 |
| NSDL | Financial services infra | ₹3,000 cr (estimate) | July 24–28 |
| Sri Lotus Developers & Realty | Real estate | ₹792 cr | July ?? |
| GNG Electronics | Electronics manufacturing | ₹– | July 23–25 |
| Brigade Hotel Ventures | Hospitality | ₹900 cr | July 21–23 |
| PropShare Titania REIT | SME REIT | ₹473 cr | July 21–25 |
🚀 Major Upcoming Mega-IPOs
1. LG Electronics India
A large Offer-for-Sale IPO valued around ₹15,000 cr. This will be LG Corp’s Indian arm selling shares—no fresh capital infusion IPO Platform+13IPO Central+13IPO Central+13.
2. Tata Capital
Set to be a mammoth ₹15,000–18,000 cr issue (approx. $2 billion). SEBI approval expected soon; a key player in 2025 debates .
3. Reliance Jio
Poised to launch India’s largest-ever IPO (~₹40,000 cr), possibly in late 2025. It will include both OFS and fresh issue. Expected valuation ~US $120 billion IPO Central.
4. Meesho
E‑commerce unicorn preparing to file DRHP soon. IPO expected late 2025, size ~US $1 billion; online marketplace focused on Tier II/III India IPO Watch+1The Times of India+1.
5. ICICI Prudential AMC
Filed DRHP for a substantial ₹10,000 cr IPO covering 10% stake. Will deepen presence of AMC listings The Times of India.
6. WeWork India Management (Embassy JV)
SEBI approved their IPO via selling existing shares (33 m by Embassy Group + 10.3 m by Jitu Virwani) Reuters.
🛎️ Sector-Wise IPO Watch
A. Financial Services & AMCs
- ICICI Prudential AMC: ₹10,000 cr – DRHP filed The Economic Times+2Silicon India+2The Times of India+2.
- SK Finance: NBFC from Jaipur, IPO approved by SEBI IPO Central+2Wikipedia+2IPO Central+2.
- NSDL: Central securities depository; preparing ₹3,000 cr–₹3,100 cr IPO .
B. Infrastructure & Real Estate
- PropShare Titania: SME REIT, ₹473 cr; opens July 21–25 tradetarget.in+15IPO Central+15The Economic Times+15.
- Smartworks Coworking: ₹583 cr; July 10–14 IPO Central+1IPO Watch+1.
- Brigade Hotel Ventures: ₹900 cr hospitality IPO The Times of India+5IPO Central+5Rediff+5.
C. Pharma & Chemicals
- Anthem Biosciences: ₹3,395 cr; July 14–16 goodreturns.in+4NewsBytes+4IPO Central+4.
- Other approvals: HDB Financial, Vikram Solar, Kent RO, Karamtara, Vidya Wires, etc. IPO Central+3goodreturns.in+3The Economic Times+3.
D. Manufacturing & Tech
- Spunweb Nonwoven: SME IPO ₹61 cr; July 14–16 IPO Watch+3NewsBytes+3IPO Central+3.
- GNG Electronics: ₹–; July 23–25 IPO Central.
🗓️ Near‑Term IPO Calendar (Jul 2025)
| Dates | IPOs |
|---|---|
| Jul 7–9 | Travel Food Services (₹2,000 cr) Reuters+3IPO Central+3Upstox – Online Stock and Share Trading+3 |
| Jul 10–14 | Smartworks Coworking (₹583 cr) |
| Jul 14–16 | Anthem Biosciences (₹3,395 cr) & Spunweb Nonwoven (₹61 cr) |
| Jul 16–18 | Monika Alcobev (₹165 cr) |
| Jul 21–23 | Brigade Hotel Ventures (₹900 cr) |
| Jul 21–25 | PropShare Titania REIT (₹473 cr) |
| Jul 23–25 | GNG Electronics (₹–) |
| Jul 24–28 | NSDL (₹3,000 cr est.) |
✅ Why These IPOs Matter
- Market Diversification: Beyond conventional IPO seekers, real estate REITs (PropShare), coworking (Smartworks), and hospitality (Brigade Hotels) broaden investor options.
- Retail Participation: IPOs like Anthem and Monika Alcobev include retail-friendly lot sizes (~₹12k–₹15k) Chittorgarh+3NewsBytes+3IPO Watch+3.
- High‑Profile Debuts: Jio, Tata Capital, Meesho, and LG India expected to bring global capital attention and uplift market sentiment.
- Sectoral Resilience: Even amid global headwinds, India raised ₹51,150 cr in H1 CY25—up 36% vs 2024 Upstox – Online Stock and Share Trading+6Financial Times+6Silicon India+6Financial Times+4Fortune India+4Silicon India+4.
💡 Investor Checklist Before Applying
- Assess Valuation: For instance, Anthem’s price band is ₹540–570, totaling ₹3,395 cr NewsBytes+1IPO Central+1.
- Track SEBI Filings: DRHP/Sebi approval status indicates genuine IPO intention.
- Subscription Strategy: Usually one lot minimum (~₹12–15k), but can invest more across categories IPO Watch+5The Financial Express+5Wikipedia+5.
- Market Sentiment & Timing: Rate cuts, RBI policy, and post-earnings trends influence listing success.
- Fundamental Fit: Study each company’s financials, track record, and growth potential.
🔮 What’s Next in Late 2025 & 2026
- Meesho: IPO likely in late 2025, ~US $1 billion Financial TimesMarksmen Daily.
- Reliance Jio: Expected end-2025 mega-listing, ₹40,000 cr, ~US $120 b valuation .
- BlueStone Jewellery, Ather Energy, Groww, Zepto, Fab India: All in preparatory DRHP-stage ipogyan.in+5NDTV Profit+5IPO Central+5.
- Startups & SEBI Approvals: 65+ companies are awaiting clearance—a potential ₹5 lakh cr pipeline for FY26 The Financial Express.
📝 Final Take
With a robust mix of large‑cap giants like Reliance Jio, growth‑staged startups like Meesho, and innovative REIT/SME plays, India’s IPO market is entering an unprecedented era. For investors, the coming months are an exciting opportunity—but due diligence remains key.
- Short-term plays: PropShare Titania, Monika Alcobev, Smartworks.
- Medium-term bets: NSDL, ICICI Prudential AMC.
- Long-run potential: Jio, Meesho, LG India.
Stay informed on DRHP filings, SEBI approvals, and price band announcements. With rising domestic investor participation and policy tailwinds, India’s IPO market promises to be one of the most dynamic investment arenas in 2025–26.