Introduction
As the Indian stock market gears up for another exciting year, 2025 is set to witness several high-profile Initial Public Offerings (IPOs). Investors are eager to capitalize on these opportunities as leading companies across diverse sectors prepare to go public. Whether you are a seasoned investor or a newcomer to the market, understanding the upcoming IPOs can help you make informed investment decisions. In this article, we will provide a deep dive into the top 10 upcoming IPOs in India for 2025 and explore their potential impact on the stock market.
List of the Top 10 Upcoming IPOs in India 2025
| Company | Sector | Expected IPO Date | Estimated Issue Size | Key Highlights |
|---|---|---|---|---|
| Reliance Jio | Telecommunications | Q3 2025 | ₹50,000+ Cr | India’s leading telecom provider with a strong digital ecosystem. |
| Tata Passenger Electric Mobility | Electric Vehicles | Q2 2025 | ₹15,000 Cr | Strong market leader in India’s booming EV sector. |
| Imagine Marketing (boAt) | Consumer Electronics | Q3 2025 | ₹2,000 Cr | Market leader in audio accessories and smart wearables. |
| Ather Energy | Electric Two-Wheelers | Q2 2025 | ₹3,000 Cr | High-growth EV manufacturer with expanding production capacity. |
| National Securities Depository Limited (NSDL) | Financial Services | Q1 2025 | ₹5,000 Cr | Key infrastructure player for securities and depository services. |
| PhonePe | Fintech | Q4 2025 | ₹10,000 Cr | Leading UPI and digital payments provider in India. |
| Zepto | E-commerce & Quick Commerce | Q3 2025 | ₹4,000 Cr | Rapidly growing quick delivery startup with strong backing. |
| JSW Cement | Cement Manufacturing | Q2 2025 | ₹7,500 Cr | Part of JSW Group, focusing on India’s infrastructure growth. |
| OfBusiness | B2B E-commerce & Financing | Q4 2025 | ₹8,000 Cr | Fast-growing lending platform for small businesses. |
| Travel Food Services (TFS) | Food & Beverage | Q2 2025 | ₹1,500 Cr | Leading travel F&B service provider with nationwide presence. |
Detailed Overview of Each IPO
1. Reliance Jio IPO
- Sector: Telecommunications
- Why it’s promising: As India’s largest telecom provider, Jio has revolutionized the sector with affordable data services. The IPO will help Jio expand its 5G network and digital services, including JioFiber, JioMart, and its digital streaming platforms.
- Investment Potential: Strong brand, large user base, and consistent revenue growth make this a highly anticipated IPO.
2. Tata Passenger Electric Mobility IPO
- Sector: Electric Vehicles (EVs)
- Why it’s promising: Tata Motors has been at the forefront of India’s EV transition. The funds from this IPO will be used for expanding its EV portfolio, R&D in battery technology, and establishing charging infrastructure.
- Investment Potential: High demand for EVs and government support for sustainable mobility provide a strong foundation for growth.
3. Imagine Marketing (boAt) IPO
- Sector: Consumer Electronics
- Why it’s promising: boAt is India’s leading brand in personal audio devices and wearables. The IPO will help it expand product lines, enter new markets, and strengthen R&D.
- Investment Potential: Strong brand recall, expanding market share, and increasing revenues make boAt a promising consumer-tech investment.
4. Ather Energy IPO
- Sector: Electric Two-Wheelers
- Why it’s promising: Ather is one of India’s top electric scooter brands, competing with Ola Electric and TVS. The IPO funds will be used for production expansion and dealer network growth.
- Investment Potential: The rising adoption of electric two-wheelers makes this IPO a key opportunity in the green mobility segment.
5. National Securities Depository Limited (NSDL) IPO
- Sector: Financial Services
- Why it’s promising: NSDL plays a crucial role in India’s securities market infrastructure. The IPO will strengthen its financial position and expand digital depository services.
- Investment Potential: As a major player in stock and bond markets, NSDL’s IPO will attract institutional and retail investors alike.
6. PhonePe IPO
- Sector: Fintech
- Why it’s promising: A dominant player in India’s digital payments market, PhonePe processes billions of transactions monthly. The IPO will fuel expansion into financial services and lending.
- Investment Potential: The growing fintech ecosystem and increasing digital adoption make this IPO attractive.
7. Zepto IPO
- Sector: E-commerce & Quick Commerce
- Why it’s promising: Zepto’s 10-minute grocery delivery model has seen rapid adoption. The funds will help the company expand to new cities and strengthen its supply chain.
- Investment Potential: The quick-commerce boom makes Zepto a disruptive player in the online grocery segment.
8. JSW Cement IPO
- Sector: Cement Manufacturing
- Why it’s promising: India’s infrastructure and housing sector is booming, creating high demand for cement. JSW Cement is positioned as a strong player in this space.
- Investment Potential: A strong balance sheet, government infrastructure push, and growing construction demand make this a stable long-term investment.
9. OfBusiness IPO
- Sector: B2B E-commerce & Financing
- Why it’s promising: OfBusiness helps small businesses procure raw materials and access credit. Its tech-driven financing solutions have fueled rapid growth.
- Investment Potential: A unique business model catering to MSMEs makes OfBusiness a high-growth investment opportunity.
10. Travel Food Services (TFS) IPO
- Sector: Food & Beverage
- Why it’s promising: TFS operates F&B outlets at major airports, railway stations, and highways. The IPO will support expansion into new locations and franchising.
- Investment Potential: The revival of travel and tourism post-pandemic provides a strong growth trajectory for TFS.
Why Should You Invest in IPOs?
Investing in IPOs can be lucrative, as early-stage investments in growing companies can yield high returns. However, it is essential to research company fundamentals, market trends, and financial performance before making investment decisions.
If you want to learn, how to analyze an IPO, then click here.
FAQs
1. What is an IPO?
An IPO (Initial Public Offering) is when a private company offers its shares to the public for the first time, allowing investors to buy company stock.
2. How can I apply for an IPO in India?
You can apply for an IPO through stockbrokers or banking apps via the ASBA (Application Supported by Blocked Amount) process.
3. Are IPOs always profitable?
Not necessarily. While many IPOs offer high returns, some may underperform. It’s important to analyze company fundamentals before investing.
4. When will these IPOs be listed on the stock exchange?
Most IPOs in this list are expected to be listed in 2025, but exact dates will be announced closer to the listing.
5. Can retail investors invest in IPOs?
Yes, retail investors can invest in IPOs. There are specific quotas reserved for retail investors in most IPOs.