Upcoming IPOs: Reliance Jio to boAT – five most awaited public issues in 2025; check list here | Stock Market News

Upcoming IPOs: The primary markets had a slow beginning in 2025, with only a handful of mainboard issues launched so far this year.

Following a record-breaking fundraising spree and major listings in 2024, investors are now looking forward to several high-profile initial public offerings (IPOs) in the pipeline, hoping for a revival amid the subdued market activity since the year’s start.

IPO activity in 2025 has been subdued, with around 10 mainboard public offerings entering the market. Of the nine IPOs listed so far, six closed their debut day with gains despite fluctuations in the broader markets.

With the secondary market experiencing a slowdown, the launch of major IPOs in 2025 could help uplift investor sentiment.

Here’s a list of most anticipated IPOs in 2025 –

Tata Capital

Tata Capital, the non-banking financial services subsidiary of the Tata Group, is expected to enter the primary market soon. The company’s board has recently approved its initial public offering (IPO), which may consist of a fresh issuance of 23 crore equity shares along with an offer for sale (OFS) by existing shareholders. Reports suggest that the IPO size could be approximately ₹15,000 crore.

The listing of Tata Capital on stock exchanges is necessary to comply with the Reserve Bank of India’s (RBI) regulations for upper-tier non-banking financial companies (NBFCs).

Reliance Jio

According to reports, Reliance Jio Infocomm Ltd’s highly anticipated IPO is expected to be launched in the second or third quarter of 2025. As a subsidiary of Jio Platforms Ltd and the telecom division of Mukesh Ambani-led Reliance Industries, the company aims to raise ₹40,000 crore through its initial share sale, potentially making it India’s largest IPO to date.

Reports also indicate that the telecom giant is targeting a valuation of approximately $120 billion ( ₹10 lakh crore) for the offering. However, official details regarding the public issue are yet to be disclosed.

NSDL

National Securities Depository Ltd (NSDL), a depository firm, is aiming to roll out its highly anticipated ₹3,000-crore initial public offering (IPO) by next month, according to reports.

NSDL requires additional approvals beyond the existing draft red herring prospectus (DRHP), the official stated, emphasizing that one of these approvals has an approaching deadline.

LG Electronics

LG Electronics India, a leading electronics company, is reportedly set to launch its ₹15,000 crore IPO in March 2025. Its South Korean parent company plans to sell approximately 10.18 crore equity shares through an offer for sale, meaning the IPO will not include a fresh issue component. The company submitted its Draft Red Herring Prospectus (DRHP) to SEBI in December 2024.

boAT

Homegrown wearable and audio brand boAt is set to launch its IPO in the upcoming fiscal year (FY24) and aims to raise approximately ₹2,000 crore, according to media reports.

In November last year, the company appointed multiple bankers, including ICICI Securities, Goldman Sachs, and Nomura, to manage its IPO scheduled for the following year.

JSW Cement

JSW Cement is set to enter the primary market this year with a ₹4,000 crore public offering. The IPO will comprise a fresh issue of shares worth ₹2,000 crore and an Offer for Sale (OFS) segment of ₹2,000 crore. The company secured SEBI approval for the offering in January.

The funds raised will be utilized for expansion initiatives and debt reduction. This will be the largest IPO in the cement sector in four years, following Nuvoco Vistas Corporation’s ₹5,000 crore issue in 2021.

Zepto

Zepto, a quick commerce platform, is reportedly planning to raise approximately ₹7,000- ₹8,800 crore ($800 million to $1 billion) through its public offering in 2025.

As per reports, the company is expected to file the Draft Red Herring Prospectus with SEBI by April 2025. Recently, Zepto secured approval from the NCLT to relocate its domicile back to India.

Ather Energy

Ather Energy, a prominent electric two-wheeler manufacturer, is likely to launch its IPO next month. Backed by Tiger Global, the company secured SEBI’s approval for the offering in December 2024.

The IPO may include a fresh issue of shares worth ₹3,100 crore along with an offer-for-sale of 2.2 crore shares. Ather Energy, which specializes in electric two-wheelers, battery packs, and charging infrastructure, is expected to disclose further details about the public offering soon.

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