India’s new-age IPO market witnessed notable growth last year, driven by rising confidence among investors and a positive macroeconomic ecosystem. The year 2024 was the year of initial public offerings, with companies like Swiggy, Bajaj Housing, Hyundai Motors India, NTPC Green Energy, and OLA Electric raising funds from the market. This year, India’s IPO boom is likely to continue with industry leaders like Flipkart, PhysicsWallah, HDFC Credila, and LG India getting ready to enter the market.
So, stay tuned!
Biggest IPOs of 2025: Here is the Quicklist of Companies
The Indian IPO landscape is expecting another growing year with numerous industry giants preparing for their public debuts.
The South Korean electronic giant LG Electronics has already filed its Draft Red Herring to Prospectus to SEBI last year, showing its focus to launch a significant IPO. This IPO will mainly be on Offer for Sales, where the existing shareholders, mainly the parent company LG, will sell a part of their stakes to the public.
Hexaware Technologies is another company gearing up for a major public offering. It is believed to be one of the largest IT services sectors in the last few years and is expected to capture investors’ major attention.
Flipkart’s IPO is going to be one of the largest in India’s history; it will capture the interest of numerous investors. Flipkart is backed by global leaders like Google and Walmart and has been a key player in the Indian market for years. Although the exact time for its IPO is still not clear, it is expected that the company is planning to go public.
The quick-commerce startup Zepto has emerged as an industry leader in the Indian market. It is renowned for the instant delivery of groceries and other essentials. The company has recently raised major funding from investors and has shown excellent growth potential. The IPO of Zepto seems promising, enabling investors to be part of this dynamic sector.
Tata Passenger Electric Mobility is a subsidiary of Tata Motors and is playing a crucial role in the electric vehicle market in India. Its IPO timeline is yet to be finalized; its public offering is expected to come. This IPO will empower the company’s manufacturing capabilities, invest in advanced technologies, and empower its industry position.
NSDL (National Securities Depository Ltd) has a significant role to play in India’s capital markets by maintaining electronic records of securities. Experts believe that the IPO can generate notable interest from investors worldwide.
Ather Energy is a leading electric two-wheeler manufacturing company in India. It is well-known for offering cutting-edge and high-performance scooters. The company filed its Draft Red Herring Prospectus with SEBI last year. The company leaders expect that the IPO will help them raise funds to empower the company’s expansion initiatives, including increasing its manufacturing capacity, making a significant investment in R&D of new products, and also making strong charging setups.
The Key Highlights of IPO 2025
- Unlike the past three years, when tech companies moved for public offering, this year, tech-enabled startups are going for public listing. For example, PhysicsWallash is aspiring to emerge as the country’s first edtech platform to the public and also holds a significant position in offline coaching.
- In the same way, coworking companies like WeWork, Table Space, and Smartworks use technology to enable business work through their services, but in terms of the business model, they are mostly the same as their traditional counterparts.
- Here, companies need to find the difference between tech-enabled companies and pure tech firms before setting the valuation premium and the growth potential.
- It is expected that Lightspeed will earn profits from some of its major portfolio startups like OYO, Zepto, PhysicsWallah, and Zetwerl. Several other VCs are hoping for significant outcomes this year.
The IPO market in India is set for remarkable growth. There might be a few temporary dips and market cycles, but the country’s strong economic momentum and growth across sectors ensure that the appetite for Indian equity has never been greater. Presently, India’s IPOs have become national as well as international agendas.