As of March 21, 2025, several prominent companies across various sectors in India are gearing up for their initial public offerings (IPOs). Here’s an overview of some of the most anticipated IPOs expected this year:
1. LG Electronics India
- Overview: The Indian subsidiary of South Korean electronics giant LG Electronics is preparing for a significant IPO.
- Expected Issue Size: Approximately ₹15,237 crore through an Offer-for-Sale (OFS) of 10.1 crore shares.
- Timeline: Anticipated in March 2025.
2. Reliance Jio
- Overview: Reliance Industries plans to list its telecom arm, Reliance Jio, marking one of India’s largest IPOs.
- Valuation: Estimated at over $100 billion.
- Timeline: Expected in 2025.
3. Zepto
- Overview: Quick commerce startup Zepto aims to bolster its market position through its public debut.
- Fundraising Target: Over $1 billion.
- Timeline: Expected to file draft papers by March or April 2025.
4. Ather Energy
- Overview: An electric vehicle (EV) manufacturer, Ather Energy plans to raise funds to expand its operations.
- Issue Details: Aiming to raise ₹4,500 crore through a mix of fresh issues and OFS.
- Timeline: Expected in early 2025.
5. National Securities Depository Ltd (NSDL)
- Overview: India’s largest depository is set to go public.
- Fundraising Target: ₹3,000 crore via an OFS.
- Timeline: Expected in early 2025.
6. JSW Cement
- Overview: Part of the JSW Group, JSW Cement plans to raise funds to expand its manufacturing capacity and reduce debt.
- Fundraising Target: ₹4,000 crore.
- Timeline: Expected in January 2025.
7. Tata Passenger Electric Mobility (TPEML)
- Overview: A subsidiary of Tata Motors, TPEML aims to strengthen its position in the electric vehicle market through its IPO.
- Timeline: Planned for 2025.
8. HDB Financial Services
- Overview: A subsidiary of HDFC Bank, HDB Financial Services plans to raise funds to enhance its financial base and comply with regulatory requirements.
- Fundraising Target: ₹12,500 crore via a mix of fresh issues and OFS.
- Timeline: Expected in 2025.
9. boAt (Imagine Marketing Ltd.)
- Overview: India’s leading audio and wearables brand, boAt, is set to launch its IPO to fund working capital and repay debt.
- Fundraising Target: $300–500 million.
- Timeline: Expected in 2025.
10. Avanse Financial Services
- Overview: The non-banking financial company (NBFC) plans to raise funds to expand its operations.
- Fundraising Target: ₹3,500 crore.
- Timeline: Expected in 2025.
11. Flipkart
- Overview: The e-commerce giant is preparing for a major IPO.
- Timeline: Expected in late 2025 or early 2026.
12. Hexaware Technologies
- Overview: An IT services company planning a significant public offering.
- Fundraising Target: ₹9,950 crore through an OFS.
- Timeline: Expected in 2025.
13. Travel Food Services (TFS)
- Overview: SSP Group, owner of Upper Crust, plans an IPO for its venture, TFS, in India.
- Timeline: Expected to be completed by spring 2025.
14. OfBusiness
- Overview: An Indian shopping website backed by SoftBank, OfBusiness plans to go public.
- Fundraising Target: Up to $1 billion.
- Timeline: Expected in late 2025.
15. Tata Capital
- Overview: Tata Capital is gearing up for a major IPO to comply with RBI regulations requiring upper-layer NBFCs to list by September 2025.
- Fundraising Target: Approximately $2 billion (₹15,000 crore) through a mix of primary and secondary share sales.
- Timeline: Expected in 2025.
