Top 10 Upcoming IPOs in India 2025: Must-Watch Listings for Investors

Upcoming IPOs in India

Introduction

Investors in India’s dynamic stock market eagerly anticipate upcoming IPOs as they present fresh opportunities to capitalize on emerging companies.

In 2025, the IPO landscape buzzes with activity, driven by sectors like renewable energy, retail, technology, and finance.

As of August 15, 2025, several high-profile companies prepare to go public, aiming to raise substantial capital amid a recovering economy and rising investor confidence.

The Indian IPO market has seen robust growth, with mainboard and SME listings attracting both domestic and international investors.

Regulatory bodies like SEBI continue to streamline processes, ensuring transparency and investor protection.

This year, experts predict a surge in listings from unicorns and established firms, potentially exceeding the records set in previous years.

In this listicle, we spotlight the top 10 upcoming IPOs in India for 2025.

Each entry provides essential details, including issue sizes, price bands, opening and closing dates, and why these listings deserve your attention.

We draw from reliable sources to offer accurate insights, helping you make informed decisions.

Whether you’re a seasoned trader or a novice investor, these IPOs could shape your portfolio.

Remember to consult financial advisors and review prospectuses before investing.

For the latest updates, check platforms like Chittorgarh IPO Watch or Moneycontrol IPO Section.

1. Patel Retail IPO

Patel Retail emerges as a strong contender in the retail sector, specializing in consumer goods and supermarket chains across India.

The company plans to expand its footprint with this IPO, targeting urban and semi-urban markets where demand for organized retail surges.

Key details include an issue size of approximately ₹200-300 crore, with a price band set at ₹237-₹250 per share.

The IPO opens on August 19, 2025, and closes on August 21, 2025, listing on NSE and BSE around August 26, 2025.

Investors can apply for lots of 50 shares, making it accessible for retail participants.

What makes this IPO exciting? Patel Retail boasts a solid revenue growth of over 25% annually, fueled by e-commerce integration and supply chain efficiencies.

Analysts highlight its potential in the post-pandemic retail boom, where consumers prioritize convenience.

Keep an eye on lead managers like SBI Capital Markets for subscription trends.

For more on Patel Retail’s prospects, visit Angel One’s Upcoming IPO Page.

2. Gem Aromatics IPO

Gem Aromatics leads in the fragrance and flavor industry, supplying essential oils and compounds to FMCG giants.

This SME IPO positions the company to scale production and enter export markets, capitalizing on India’s growing chemical sector.

The issue size stands at ₹100-150 crore, with a price band of ₹120-₹140.

Bidding opens on August 19, 2025, and closes on August 21, 2025, with listing expected on August 26, 2025, on NSE SME and BSE SME.

Active investors should note Gem Aromatics’ innovative R&D, which has led to patented formulations and a 30% market share in niche segments.

The IPO funds will upgrade facilities, potentially boosting margins by 15%. Amid global demand for natural ingredients, this listing offers diversification for portfolios heavy on tech stocks.

Explore detailed filings on Moneycontrol’s IPO List.

3. Studio LSD IPO

Studio LSD, a creative agency focused on digital media and advertising, taps into India’s booming content creation economy.

The company aims to fund tech upgrades and talent acquisition through this IPO.

With an issue size of ₹50-80 crore and a price band of ₹51-₹54, the IPO runs from August 18-20, 2025, listing shortly after.

It’s tailored for SME investors seeking exposure to the media sector.

Studio LSD stands out with its portfolio of viral campaigns for brands like Pepsi and Amazon, achieving 40% YoY growth.

The active voice here: Investors seize this chance to back a firm at the forefront of digital transformation.

Potential risks include market volatility, but rewards could be high in a creator-driven economy.

Check updates via Zerodha’s IPO Platform.

4. Vikram Solar IPO

Vikram Solar, a powerhouse in renewable energy, manufactures solar panels and solutions.

This mainboard IPO will finance expansion into green hydrogen and international markets.

Expected issue size: ₹1,500-2,000 crore, price band TBA.

Opening dates are anticipated in late August 2025, with strong backing from investors eyeing sustainability.

The company powers over 1 GW of installations, aligning with India’s net-zero goals.

Investors actively pursue such green stocks, as government incentives like PLI schemes amplify growth.

Vikram Solar’s export revenues have doubled, signaling robust demand.

For in-depth analysis, refer to Groww’s Upcoming IPOs.

5. Lenskart IPO

Lenskart revolutionizes eyewear retail with omnichannel strategies, blending online and offline sales. The unicorn’s IPO targets ₹3,000 crore, focusing on global expansion.

Price band and dates TBA for Q3 2025. Backed by SoftBank, Lenskart reports ₹2,000 crore in revenue, with 1,000+ stores.

Investors flock to this due to its tech-driven personalization and AR try-on features.

The active market sees eyewear demand rising 20% annually.

Risks involve competition from Luxottica, but Lenskart’s valuation at $4.5 billion promises upside.

Link to Kotak Securities’ IPO Insights.

6. Reliance Jio IPO

Reliance Jio, the telecom behemoth, gears up for one of 2025’s mega listings, valued at ₹9.3 trillion.

The IPO will raise funds for 5G rollout and digital services.

Issue size: Massive, dates expected in H2 2025. Jio dominates with 450 million subscribers.

This IPO captivates investors with Jio’s pivot to fintech and e-commerce.

Active strategies include subscribing early for potential multibagger returns. Government spectrum auctions add tailwinds.

Details on Bajaj Finserv’s IPO Page.

7. Zepto IPO

Zepto, the quick-commerce disruptor, plans a ₹2,500 crore IPO by March 2025. Specializing in 10-minute deliveries, it competes with Blinkit.

Price band TBA, focusing on urban millennials.

Zepto’s 300% growth stems from efficient dark stores. Investors actively bet on hyperlocal trends, though burn rates pose risks.

Visit Upstox News.

8. Tata Capital IPO

Tata Capital, a NBFC arm, eyes ₹18,000 crore through its IPO, strengthening lending portfolios.

Dates TBA for 2025, with strong Tata brand equity.

The firm lends to SMEs and retail, posting 25% CAGR. Investors pursue stability in finance amid rate cuts.

Source: HDFC Sky IPO List.

9. JSW Cement IPO

JSW Cement, part of JSW Group, expands capacity with this ₹4,000 crore IPO.

Focus on sustainable cement, dates TBA.

Growth drivers include infrastructure boom. Active investors note 15% market share gains.

Link: IPO Central.

10. Asirvad Micro Finance IPO

Asirvad, a Manappuram subsidiary, targets micro-lending growth with ₹1,500 crore IPO.

Empowering rural women, it’s set for H2 2025.

High NPA management and 30% AUM growth attract value investors.

More at Chittorgarh.

Conclusion

These top 10 upcoming IPOs in India for 2025 highlight diverse sectors, offering something for every investor.

From tech unicorns like Zepto to green energy leaders like Vikram Solar, the market brims with potential.

Stay vigilant on subscription statuses and market sentiments.

Always diversify and research thoroughly. For real-time news, follow ICICI Direct’s IPO Calendar.