Introduction: What Is an IPO?
An Initial Public Offering (IPO) is a process where a private company offers its shares to the public for the first time. It transforms the business into a publicly traded company, opening up new funding opportunities while offering investors a chance to become part-owners.
IPOs can be a game-changer for both companies and investors. For businesses, it’s a pathway to raise capital for expansion, innovation, or debt repayment. For investors, IPOs present an opportunity to invest early in a company that could become a future market leader.
In 2025, the IPO market is buzzing with activity. Several high-profile companies are preparing to go public, and both retail and institutional investors are eyeing these new opportunities. Let’s explore the most anticipated IPOs in India and globally, along with everything you need to know before investing.
Why 2025 Is a Crucial Year for IPOs
The year 2025 is shaping up to be a strong year for IPOs due to:
- Stable global markets
- Declining interest rates
- Investor appetite for new-age tech, NBFC, and infrastructure stocks
- Positive momentum from successful IPOs in 2024
Many companies delayed their listings during uncertain economic conditions in 2023, and are now ready to debut.
Key Upcoming IPOs in India (2025)
1. Tata Capital IPO
- Estimated Issue Size: ₹17,200 crore
- Type: 100% Fresh Issue
- Sector: NBFC (Non-Banking Financial Company)
- Expected Launch: July 2025
- Details: Backed by the Tata Group, Tata Capital’s IPO is one of the most anticipated. The funds will be used to bolster lending operations and expand market reach.
2. HDB Financial Services IPO
- Estimated Issue Size: ₹12,500 crore (₹2,500 Cr fresh + ₹10,000 Cr OFS)
- Sector: Finance
- IPO Status: Already opened June 25–27, listing on July 2
- Details: HDB is a subsidiary of HDFC Bank, and its IPO witnessed high demand due to its stable financials and brand trust.
3. National Securities Depository Ltd (NSDL)
- Issue Size: ₹3,300 crore (Offer-for-Sale)
- Sector: Capital Markets Infrastructure
- IPO Date: July 2025
- Details: As India’s largest securities depository, NSDL plays a vital role in the country’s capital market ecosystem.
4. JSW Cement IPO
- Estimated Issue Size: ₹4,000 crore
- Type: Fresh + OFS
- Sector: Infrastructure/Manufacturing
- Expected Launch: Mid-July 2025
- Details: With India focusing on infrastructure growth, JSW Cement’s IPO is attracting attention from long-term investors.
5. Hero FinCorp IPO
- Issue Size: ₹3,670 crore (₹2,110 Cr fresh + ₹1,570 Cr OFS)
- Sector: Consumer Finance
- Launch Window: Expected in July 2025
- Details: A key player in the loan segment, Hero FinCorp will use the proceeds to grow its loan book.
6. Crizac Ltd IPO
- IPO Date: July 2–4
- Issue Type: ₹860 crore (Offer-for-Sale only)
- Price Band: ₹233–₹245
- Sector: Education and Technology
- Details: Crizac’s listing is expected around July 9. It is known for education services and tech products.
7. Travel Food Services (TFS)
- Sector: Hospitality/Travel Retail
- IPO Timeline: July 7–9
- Expected Size: ₹2,000+ crore
- Details: Operating food services at major airports and railways, TFS is eyeing growth and modernization of India’s travel ecosystem.
8. Anthem Biosciences
- Sector: Biotech/Pharma
- IPO Type: Offer-for-Sale
- Launch Window: Mid-July 2025
- Details: A leading player in contract research and development in the life sciences space.
9. Smartworks Coworking
- Issue Size: ₹582.6 crore (₹445 Cr fresh + ₹137.6 Cr OFS)
- Sector: Commercial Real Estate/Coworking
- IPO Date: July 10–14
- Details: India’s largest flexible workspace platform is tapping capital markets to scale operations and compete with global brands.
Upcoming SME IPOs in India (July 2025)
Small and Medium Enterprise IPOs are also booming. Some key ones include:
- Chemkart India – ₹80 crore
- Neetu Yoshi – ₹77 crore
- Smarten Power Systems – ₹50 crore
- White Force – ₹24 crore
- Pushpa Jewellers, Cedaar Textile, Cryogenic OGS, etc.
These IPOs offer high-growth opportunities but come with higher risk due to smaller scale and liquidity
Top Global Upcoming IPOs in 2025
1. Cirsa (Spain)
- Sector: Gambling and Casinos
- Listing Date: July 9, 2025
- Valuation: €2.5 billion
- Issue Size: €400+ million
- Details: Backed by Blackstone, Cirsa operates in Spain, Italy, Morocco, and Latin America.
2. Accelerant (USA)
- Ticker: NYSE: ARX
- Sector: Insurtech
- IPO Filed: June 2025
- Q1 Revenue: $178 million (39% YoY growth)
- Net Profit: $7.8 million
- Details: Backed by Todd Boehly, Accelerant is aiming to raise capital for expansion and investor payouts.
3. NTT Data REIT (Singapore)
- Issue Size: $1 billion (est.)
- Sector: Real Estate (Data Centers)
- Assets: US, Austria, Singapore
- Anchor Investors: Includes GIC
- Details: One of the largest REIT IPOs in Asia in 2025.
4. NIQ Global (NYSE Listing)
- Sector: Consumer Analytics
- Revenue Q1 2025: $965.9 million
- Purpose: Debt reduction and expansion
- Backed By: KKR
- Details: Formerly NielsenIQ, NIQ is key to data-driven decision-making for brands worldwide.
5. Klarna (USA/Europe)
- Sector: Fintech (Buy Now, Pay Later)
- Expected IPO Timeline: Late 2025
- Valuation Estimate: $15–$20 billion
- Details: A long-awaited IPO that could be one of the largest in the fintech space this year.
IPO Calendar Snapshot (July 2025)
| IPO Name | Type | Dates | Issue Size |
|---|---|---|---|
| HDB Financial Services | Mainboard | Jun 25–27 | ₹12,500 crore |
| Crizac Ltd | Mainboard | Jul 2–4 | ₹860 crore |
| TFS | Mainboard | Jul 7–9 | ₹2,000 crore |
| Chemkart India | SME | Jul 7–9 | ₹80 crore |
| Anthem Biosciences | Mainboard | Jul 8–10 | TBD |
| Smartworks | Mainboard | Jul 10–14 | ₹582.6 crore |
| Tata Capital | Mainboard | Mid–Late Jul | ₹17,200 crore |
How to Apply for an IPO
Applying for an IPO in India is now easier than ever:
Steps to Apply:
- Open a Demat & Trading Account with a broker like Zerodha, Groww, Angel One, etc.
- Check IPO Details on BSE, NSE, or broker apps.
- Apply via UPI or ASBA through your net banking.
- Wait for Allotment — usually declared 3–5 days after closure.
- If Allotted, shares get credited to your Demat account before listing.
Key Terms to Know:
- RHP (Red Herring Prospectus) – IPO offer document
- GMP (Grey Market Premium) – Unofficial trading price before listing
- Lot Size – Minimum quantity you can apply for
- Allotment Status – Check on registrar websites (Link Intime, KFinTech)
Should You Invest in an Upcoming IPO?
Pros:
- Early investment in future giants
- Potential for high listing gains
- Portfolio diversification
- Opportunity to buy at issue price (pre-market)
Cons:
- Risk of overvaluation
- Allotment is not guaranteed
- Market conditions may affect listing price
- Lock-in periods (for anchor investors)
Tips for IPO Investors
- Read RHP Carefully – Understand financials, risks, and company vision.
- Avoid Hype – Don’t invest based only on buzz or influencer advice.
- Check GMP – Grey Market Premium is a useful (but unofficial) indicator.
- Diversify – Don’t put all your capital into one IPO.
- Be Cautious with SME IPOs – They can be high-reward but also high-risk.
Conclusion
The IPO market in 2025 is full of diverse and exciting opportunities. Whether you’re a long-term investor or looking for short-term gains, this year offers IPOs across industries like finance, technology, manufacturing, real estate, and biotech.
Also Read-How To Apply IDFC First Bank Credit Card | Related FAQ About IDFC First Bank Credit Card