India’s equity markets have rebounded strongly in 2025, with the Nifty surging nearly 15 percent from its 52-week lows amid easing geopolitical tensions and renewed foreign institutional investor inflows of over Rs 14,000 crore in just one month. The market outlook is bullish, driven by robust corporate earnings, favorable monsoon forecasts, and supportive global trade developments.
The Indian IPO market remains among the world’s most vibrant, securing a 22 percent share of global IPO activity in Q1 2025 with 62 listings raising $2.8 billion. In FY25, 80 mainboard IPOs raised Rs 1,630 billion, reflecting strong investor confidence and robust sectoral performance, especially in automotive, consumer discretionary, and industrials.
India’s primary markets are witnessing renewed activity as stock market recovery boosts investor sentiment. SEBI has recently approved IPO proposals of 15 companies, collectively valued at Rs 37,000 crore. This surge signals a revival in fundraising plans, with firms eager to capitalize on improved market conditions and heightened investor appetite.
Here are the prominent companies that received SEBI approval from the massive IPO pipeline in 2025
1. HDB Financial Services Limited
The company plans a ₹12,500 crore IPO, including a ₹2,500 crore fresh issue and a ₹10,000 crore offer for sale by parent HDFC Bank, which currently owns 94.3% of the firm, aiming to reduce its stake and raise capital.
HDB Financial Services must go public as a regulatory mandate, being categorized under the “Upper Layer” of NBFCs per RBI’s October 2022 circular. RBI requires all such NBFCs to be listed within three years, making the September 2025 deadline crucial for compliance.
2. Hero Fincorp Limited
Hero FinCorp, part of the Hero MotoCorp group and backed by ChrysCapital, has received SEBI approval for its ₹3,668 crore IPO. The offering includes a fresh issue of ₹2,100 crore and an offer for sale worth ₹1,568 crore by existing investors, aiming to raise capital and provide exits.
3. Vikram Solar Limited
Vikram Solar has secured SEBI approval to launch its IPO, comprising a fresh issue of shares worth up to ₹1,500 crore and an offer for sale of up to 1.7 crore equity shares by the promoters. The offering aims to fund growth and provide partial promoter exits.
4. LG Electronics India
LG Electronics India is launching a book-built IPO comprising an Offer for Sale of 10.18 crore shares with no fresh issue. The company plans to list on BSE and NSE, with a face value set at ₹10 per share. Pricing details remain undisclosed.
5. Brigade Hotel Ventures
Brigade Hotel Ventures plans a ₹900 crore IPO through a full fresh issue, with no offer for sale component. The face value is ₹10 per share, and listing is proposed on BSE and NSE. The issue is via book-building, with pre-issue shareholding standing at 28.14 crore shares.
6. Karamtara Engineering Limited
Karamtara Engineering is launching a ₹1,750 crore IPO, comprising a ₹1,350 crore fresh issue and a ₹400 crore offer for sale. The face value is ₹10 per share. Shares will be listed on BSE and NSE, with no change in shareholding post issue at 29.22 crore shares.
India’s IPO pipeline has reached a record high, with 72 companies receiving SEBI approval to raise Rs 1.4 lakh crore and 68 more awaiting clearance for Rs 94,000 crore. According to Prime Database, a total of 140 firms are set to raise ₹2.35 lakh crore, highlighting strong investor interest and robust activity in the country’s primary markets.
Written by Abhishek Singh
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