Jio and Tata EV Among the Big Names Set to Go Public This year India's IPO market is set to witness a host of listing activity in 2025, with companies collectively aiming to raise over INR 1.5 lakh crore from public listing.
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India's initial public offering (IPO) market is set to witness a host of listing activity in 2025, with companies collectively aiming to raise over INR 1.5 lakh crore from public listing. Industry leaders such as Flipkart and Reliance Jio are among the prominent names preparing for the mega-IPOs reflecting the robust investor appetite for high-growth sectors like e-commerce, telecommunications, and electric vehicles (EVs).
Mahavir Lunawat, Managing Director of Pantomath Capital said that they had predicted that IPO fundraising in 2025 would surpass INR 1 lakh crore – a target that has already exceeded expectations.
"With the continued momentum in the markets, we now project that equity raised through IPOs will cross Rs 2 lakh crore in the year 2025. This milestone is a testament to the resilience of India's capital markets, the confidence of investors, and the critical role IPOs play in fueling economic growth," said Lunawat.
Ankur Bansal, Managing Director of Blacksoil said that 2025 will be a defining year for growth-stage companies, driven by the strengthened focus on profitability and IPOs.
"Capital efficiency will take center stage, with new success stories emerging from businesses that avoided overcapitalization and prioritized building sustainable models. In the D2C sector, consolidation and the shift to omnichannel strategies will reshape the landscape, as companies balancing online and offline growth position themselves for long-term success," said Bansal.
Here we take a look at the big IPOs set to hit the bourses this year:
Flipkart
Walmart-owned e-commerce platform Flipkart's IPO is expected to take place by the end of 2025, with the company securing the necessary approvals to shift its domicile from Singapore to India. According to reports, the company could be valued at well over USD 36 billion post-listing.
LG India
South Korea-based consumer electronics company LG Electronics India has filed its draft red herring prospectus (DRHP) with marker regulator Securities and Exchange Board of India (SEBI) for its maiden issue. The listing is potentially the fifth-largest IPO after Hyundai Motors, Life Insurance Corporation, Paytm, and Coal India, valued at INR 15,000 crore.
According to the DRHP, the IPO will consist fully of an offer for sale (OFS) by the promoter selling shares, LG Electronics Inc., which will sell 15 percent of the equity capital, or 101.8 million shares.
Reliance Jio
Already dubbed what could be the biggest-ever IPO in the Indian market's history, Mukesh Ambani is said to be gearing up for the Reliance Jio listing, looking to raise close to INR 35,000-40,000 crore. The telecom arm of Reliance Industries Ltd (RIL) is valued at USD 120 billion and is expected to go live on the market in the second half of 2025.
The listing is said to comprise the sale of existing shares and the purchase of new shares, alongside a pre-IPO placement for a closed group of investors.
Tata Motors Subsidary
Tata Passenger Electric Mobility Limited (TPEML), the electric vehicle (EV) arm of Tata Motors, is expected to raise close to INR 8,000-16,000 crore through IPO in the 2025-26 fiscal year taking the valuation between USD 1-2 billion.
TPEML is a subsidiary of Tata Motors, known for its market leadership currently in India's EV segment with over 80 per cent market share.
