Upcoming IPOs in India 2025: What Investors Should Watch

If you are into investing, you must be acquainted with the term IPO. IPO or Initial Public Offering happens when a company decides to go public from private, and thus investors get a chance to purchase the company shares for the first time. This decision to go public has many benefits for businesses. It helps them raise capital which they can then use to expand, innovate, and achieve other strategic goals. 

The present year, 2025, is going to be a milestone year for IPOs in India, as more than 100 companies decide to go public and hit the stock market. These firms aim to raise over ₹2 lakh crore and helping them achieve that is the current state of economy of India, characterized by strong domestic liquidity and thriving digital economy. The sectors set to dominate IPO activity in 2025 include technology, fintech, healthcare, and manufacturing. 

Major IPOs to Watch in 2025

1. Reliance Jio IPO

One of the most anticipated IPOs of the year is Reliance IPO, leading India’s telecom and digital services sector for years. The potential valuation is expected to exceed ₹9.3 trillion, so, this IPO presents a golden opportunity for investors. 

2. Zepto IPO

Zepto is one of the fastest growing quick-commerce startups of India and it is planning to go public by mid-2025. Zepto reported a 120% jump in operating revenue in FY24, which shows how much the demand for ultra-fast deliveries is growing in India. This IPO could be a major event in the e-commerce sector of India. 

3. Tata Capital IPO

Tata Capital, the financial services arm of the Tata Group, aims to raise ₹18,000 crore through its IPO. As one of the leading non-banking financial companies (NBFCs) of India, its public offering is expected to attract both retail and institutional investors. 

4. Ather Energy IPO

Ather Energy, one of leading Electric vehicle (EV) makers of India aims to raise ₹3,100 crore in its IPO. As India pushes for sustainable transportation, Ather going public is likely to attract strong investor interest.

5. Tata Passenger Electric Mobility (TPEML) IPO

TPEML is another key EV-sector IPO. With an 80% market share in India’s electric car segment, Tata Motor’s electric vehicle division plans to raise ₹1-2 billion to increase production capacity. 

6. Boat IPO

Boat, known for its affordable audio and wearable devices, is planning to raise ₹2,000 crore on its IPO. With an established strong foothold in India, the company is now eyeing global expansion. Investors keen on the fast-growing electronics market may be interested in this IPO. 

Key Sectors Driving the 2025 IPO Boom

1. Technology & Fintech

Friendly policies by the government and confidence of the investors is driving startups in AI, e-commerce, and fintech to lead the IPO wave.

2. Healthcare & Pharmaceuticals

The growing demand for medical innovation and digital health platforms is pushing pharma companies, biotech firms, and health-tech startups toward public listings.

3. Electric Vehicles (EVs)

India’s EV market is expanding rapidly, thanks to government incentives and increasing consumer adoption. Several EV makers and battery tech firms are looking to go public.

4. Financial Services

With India’s growing shift toward digital banking and financial inclusion, investors are eyeing IPOs from NBFCs and fintech startups.

How to Choose the Right IPO to Invest In

Investing in IPOs can be rewarding, but you need to assess them carefully before investing. Here are some factors to consider in choosing the right IPO:

Do Your Own Research – Do not solely depend on media hype or recommendations from brokerages. Research about the financial and industry standing of the company.  

Read the Red Herring Prospectus (RHP) – This document details the company’s business model, risk factors, and how it plans to utilize IPO funds. Read this document thoroughly to get a closer look at the company IPO. 

Assess the Leadership Team – Always get to know more about the company’s management as it plays a crucial role in its long-term success. So, review the track record of the promoter is essential before investing.

Analyze Valuation Metrics – Look at key indicators like the Price-to-Earnings (P/E) ratio, Price-to-Book (P/B) ratio, and revenue growth trends to determine fair pricing.

Apply at the Cut-Off Price – This increases your chances of getting allotted shares, especially in oversubscribed IPOs.

Risks to Consider Before Investing in an IPO

While IPOs can offer strong upside potential, they come with risks:

Overvaluation – Some IPOs are aggressively priced, leading to potential losses when the stock corrects.

High Volatility – Newly listed stocks often experience sharp price swings, making them risky for short-term investors.

Limited Track Record – Many IPO companies lack a long financial history, making it harder to gauge performance.

Allotment Uncertainty – In oversubscribed IPOs, retail investors may receive fewer shares than applied for.

Lock-in Period Risks – Early investors and promoters face a six-month lock-in period, which can lead to price drops once restrictions are lifted.

Final Thoughts: Should You Invest in 2025 IPOs?

The IPO boom in 2025 presents exciting opportunities for investors, especially in high-growth sectors like technology, EVs, and healthcare. However, concerns like overvaluation and market volatility remain.

For those willing to take calculated risks, 2025 could be a highly rewarding year. The key is to conduct thorough research, financial analysis, and maintain a long-term perspective rather than blindly following market hype. If approached wisely, IPO investments can become valuable additions to an investor’s portfolio.