Here are some anticipated IPOs to watch:
List of major startup IPOs lined up for 2025
Reliance Jio
India’s leading telecom operator, Reliance Jio, is preparing for an IPO in Mumbai, slated for 2025. The company boasts over 479 million subscribers and is expected to seek a valuation exceeding $100 billion, potentially making it India’s largest IPO to date.
OfBusiness
A SoftBank-backed Indian raw material procurement and financing platform, OfBusiness plans to raise up to $1 billion through its IPO in 2025. The company offers materials like steel, pulses, and textiles, and exports goods to clients such as Lulu, Costco, and Tommy Hilfiger. The IPO could value OfBusiness between $6 billion and $9 billion.
Ather Energy
An electric vehicle manufacturer specializing in electric scooters, Ather Energy is expected to launch its IPO in 2025. The company aims to capitalize on the growing demand for electric mobility solutions in India.
National Securities Depository Limited (NSDL)
As one of India’s primary securities depositories, NSDL is anticipated to make a significant market entry with its ₹3,500 crore IPO. This offering is expected to attract substantial interest, particularly from institutional investors.
Avanse Financial Services
Specializing in education loans, Avanse Financial Services plans to raise ₹3,500 crore through its IPO. With the increasing emphasis on education financing in India, this IPO presents a notable opportunity for investors.