India’s IPO market is booming like never before. With investor confidence at an all-time high and a robust economy paving the way, 2025 is shaping up to be a historic year for companies going public. From tech and telecom to cement and finance, this year’s public offerings are not just bigger in size—they’re redefining India’s corporate landscape. In this blog, we dive into the Top 10 Biggest IPOs in India 2025, analyzing the companies, their sectors, and the impact they’re likely to have on the stock market and beyond.
Biggest IPOs in India
Discover the top 10 biggest IPOs in India for 2025 that are set to shake up the investment landscape and revolutionize the Indian market.
Reliance Jio
Undoubtedly the most anticipated IPO of the year, Reliance Jio, the telecom arm of Reliance Industries, is expected to break records with an estimated valuation exceeding ₹8 lakh crore. The IPO is expected to raise over ₹70,000 crore, making it the largest IPO in India’s history. With nearly 500 million subscribers, Jio’s listing is expected to attract global institutional investors and set the tone for future mega-IPOs.
Hexaware Technologies
After being delisted in 2021, Hexaware Technologies is making a powerful comeback with a ₹9,950 crore IPO, backed by the Carlyle Group. As a digital IT and BPO service provider, Hexaware’s re-entry to the stock market signals confidence in India’s growing tech services sector.
HDB Financial Services
A subsidiary of HDFC Bank, HDB Financial Services is all set for a ₹12,500 crore IPO. Known for its strong loan portfolio and retail lending business, this IPO is one of the most significant moves in the NBFC space this year. With HDFC Bank’s credibility behind it, the offering is likely to draw strong retail and institutional interest.
OfBusiness
A rising star in the B2B commerce space, OfBusiness is backed by SoftBank and is expected to launch a ₹7,500 crore IPO. Specializing in supplying raw materials to manufacturing and infrastructure businesses, this IPO is seen as a bold move in India’s industrial digitization journey.
Indira IVF
India’s largest fertility chain, Indira IVF, is expected to make a ₹2,000+ crore debut. As demand for fertility services grows, this IPO is unique in its niche and may attract healthcare-focused investors looking for long-term growth potential.
JSW Cement
JSW Cement is aiming to capitalize on this growth with its ₹4,000 crore IPO With India’s infrastructure and real estate sectors on the rise. The company plans to expand its production capacity and strengthen its presence in Southern and Eastern India. The IPO includes both fresh issue and offer-for-sale components.
Ather Energy
Ather Energy has become a name to watch. Its ₹4,500 crore IPO will help it scale operations, expand EV charging infrastructure, and increase its manufacturing capacity With the electric vehicle sector accelerating in India. This listing is expected to generate buzz similar to EV companies in global markets.
Laxmi Dental Limited
Raising ₹698 crore, Laxmi Dental Technologies made headlines with an oversubscription of 114x, signaling high investor interest. The company provides dental solutions and equipment, tapping into India’s expanding healthcare and dental care markets.
Quadrant Future Tek Limited
Tech and engineering services provider Quadrant Future Tek saw its ₹290 crore IPO oversubscribed nearly 196x, showcasing investor appetite for futuristic tech firms. The firm’s focus on automation, AI, and IoT makes it a strategic long-term bet.
Stallion India Fluorochemicals Limited
This lesser-known chemical manufacturer raised ₹199 crore and saw an impressive oversubscription of 188x. With applications in refrigeration, pharmaceuticals, and agrochemicals, Stallion India Fluorochemicals is riding the global demand for specialty chemicals.
What This Means for Investors
2025 marks a pivotal year in Indian equity markets. Not only are we seeing record-breaking valuations, but there’s also a diversity in sectors—telecom, fintech, EVs, cement, and healthcare—all coming to the fore.
Investors can expect:
- High volatility during IPO listings
- Strong retail participation
- Long-term potential in sectors like EV, tech, and healthcare
But as always, it’s essential to research the fundamentals of each company before investing.
The Role of Smart Portfolio Management
With so many big-ticket IPOs launching, managing your portfolio effectively becomes crucial. For e-commerce brands and startups planning to list in the future, partnering with IPOs management services is also becoming a smart move.
These services help companies:
- Optimize product listings and digital sales channels
- Streamline revenue tracking and customer data
- Build stronger financial reporting and investor readiness
Whether you’re an investor or a brand considering your IPO journey, the right digital support system can significantly improve your market readiness.
Conclusion
The IPO wave of 2025 is setting new benchmarks for Indian markets. With Reliance Jio poised to lead and a mix of tech, fintech, healthcare, and manufacturing companies following, this year will be remembered as a landmark in India’s financial history. For retail investors, it’s a great time to get informed, diversify smartly, and make the most of these opportunities. And for businesses, it’s proof that with the right planning and digital support—
Stay tuned. The best is yet to be listed.
