Upcoming IPOs in 2025: Top Companies to Watch and Invest In

As we progress through 2025, the Indian stock market is poised to witness a series of significant Initial Public Offerings (IPOs). These upcoming IPOs present promising opportunities for investors aiming to diversify their portfolios and capitalize on India's dynamic economic landscape. This article delves into some of the most anticipated IPOs slated for 2025, offering insights into each company's background, financial health, and potential investment appeal.

1. Reliance Jio IPO

Reliance Jio, the telecommunications arm of Reliance Industries, has been a transformative force in India's digital landscape since its inception. With a subscriber base exceeding 479 million, Jio has established itself as a market leader, offering a range of services from mobile connectivity to broadband and digital platforms.

The much-anticipated IPO is expected to debut on the Mumbai Stock Exchange in 2025, with an estimated valuation surpassing $100 billion. This monumental offering aims to surpass previous records, potentially becoming India's largest IPO to date. Investors are keenly watching this development, given Jio's robust financial performance and its pivotal role in India's digital revolution.

2. Tata Capital IPO

Tata Capital, the financial services subsidiary of the esteemed Tata Group, is gearing up for its public offering to comply with regulatory mandates for non-banking financial companies (NBFCs). The IPO is projected to raise approximately ?15,000 crore through a combination of fresh equity issuance and an offer for sale by existing shareholders.

This strategic move is poised to enhance Tata Capital's market presence and provide investors with an opportunity to align with a reputable brand known for its diversified financial services portfolio.

3. PhonePe IPO

PhonePe, a leading digital payments platform backed by Walmart, has been instrumental in advancing cashless transactions across India. With a user base exceeding 590 million and a commanding 48.4% share of the Unified Payments Interface (UPI) market as of January 2025, PhonePe has demonstrated significant growth and profitability.

The company achieved profitability in the fiscal year 2024, reporting a consolidated profit of ?1.97 billion. The upcoming IPO, expected in 2025, seeks to capitalize on this momentum, offering investors a stake in India's burgeoning fintech sector.

4. Ather Energy IPO

Ather Energy, a pioneer in the electric two-wheeler industry, is slated to launch its IPO in 2025. The company has received approval from the Securities and Exchange Board of India (SEBI) and plans to raise funds through a fresh issue of shares worth ?3,100 crore, complemented by an offer-for-sale of 2.2 crore shares.

As the demand for sustainable transportation solutions escalates, Ather Energy's IPO presents a compelling opportunity for investors interested in the green energy and electric vehicle sectors.

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5. JSW Cement IPO

JSW Cement, a rapidly expanding entity within the JSW Group, is preparing for its IPO with an anticipated approval from SEBI by January 2025. The company has been augmenting its production capacity and market reach, positioning itself as a formidable player in the cement industry.

The IPO aims to fuel further expansion and reduce debt, offering investors exposure to the infrastructure and construction sectors, which are pivotal to India's economic development.

6. OfBusiness IPO

OfBusiness, a SoftBank-backed enterprise procurement platform, has carved a niche by supplying raw materials such as steel and textiles to businesses, alongside exporting food and apparel to international clients. The company reported a profit after tax of $72.6 million on a revenue of $2.3 billion for the fiscal year ending March 2024.

With plans to raise up to $1 billion, the IPO is slated for late 2025. This offering provides an avenue for investors to engage with a profitable enterprise operating at the intersection of technology and traditional industries.

7. Zepto IPO

Zepto, a prominent player in the quick commerce sector, is preparing to raise over $1 billion through its IPO in 2025. The company has received approval to relocate its headquarters to India from Singapore, signaling its commitment to the Indian market.

As consumer preferences shift towards rapid delivery services, Zepto's IPO offers investors a chance to participate in the evolving e-commerce landscape.

8. LG Electronics India IPO

LG Electronics India is expected to launch its ?15,000 crore IPO in March 2025. The offering will consist of an offer for sale by the Korean parent company, with no fresh issue component.

This IPO provides an opportunity for investors to gain exposure to a well-established brand with a diverse product portfolio in the consumer electronics sector.

9. Travel Food Services (TFS) IPO

SSP Group, the owner of Upper Crust, has announced plans for an IPO in India for its subsidiary, Travel Food Services (TFS). The IPO is targeted for spring 2025, with SSP Group planning to increase its stake in TFS to 50.01% before the offering.

This IPO offers investors an opportunity to invest in the travel and food services industry, which is poised for growth as travel activities resume post-pandemic.

10. HDB Financial Services IPO

HDB Financial Services, a subsidiary of HDFC Bank, plans to raise ?12,500 crore via a mix of fresh issues and offer-for-sale. The listing is driven by RBI's mandate requiring NBFCs classified in the "upper layer"

Disclaimer: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. It is for educational purposes only.