India’s stock market is preparing for a busy and exciting period as several major companies plan to launch their initial public offerings (IPOs) before the end of November. Investors are getting ready for one of the most active primary market seasons of the year, with ten companies expected to raise up to Rs. 45,000 crore collectively. This surge of IPOs shows growing confidence in the Indian economy and the increasing interest of investors in new market opportunities.
The upcoming IPOs feature some well-known names across various sectors. Billionbrains Garage Ventures, the parent company of Groww, Lenskart Solutions, ICICI Prudential AMC, Pine Labs, and PhysicsWallah, are all preparing to enter the market. Other companies, including Orkla India (known for MTR Foods), Tenneco Clean Air, Prestige Hospitality, Boat, and Park Medi World, are also planning their listings.
List of Upcoming IPOs and their IPO Size (in Rs. crore)
| Company Name | Fresh Issue(In Rs. crore) | Offer For Sale(OFS)(In Rs. crore/ no of shares) | IPO Size(In Rs. crore) |
| Orkla India Limited(known for MTR Foods) | – | ₹1,667.54 | ₹1,667.54 |
| Billionbrains Garage Ventures Limited(known for Groww) | ₹1,060 | 57.42 croreequity shares | ₹6,500-₹7,000 |
| Lenskart Solutions Limited | ₹2,150 | ₹5,128.02 | ₹7,278.02 |
| ICICI Prudential AMC Limited | – | 1.77 croreequity shares | ₹9,000-₹10,000 |
| Pine Labs Limited | ₹2,600 | 14.78 croreequity shares | ₹5,500-₹6000 |
| PhysicsWallah Limited | ₹3,100 | ₹720 | ₹3,820 |
| Tenneco Clean Air India Limited | – | ₹3,000 | ₹3,000 |
| Prestige Hospitality Ventures Limited | ₹1,700 | ₹1,000 | ₹2,700 |
| Imagine Marketing Limited(known for Boat) | ₹900 | ₹1,100 | ₹2,000 |
| Park Medi World Limited | ₹960 | ₹300 | ₹1,260 |
| Total | ₹44,725.56 |
Upcoming IPO Details:
- Orkla India Limited (known for MTR Foods)
Orkla India Limited will be the first IPO to open, which will run from October 29 to October 31. It is a pure offer for sale worth Rs. 1,667.54 crore, with anchor investors able to book shares from October 28. The price band for the issue is set between Rs. 695 and Rs. 730 per share, and will be listed on NSE and BSE on Thursday, November 6, 2025.
- Billionbrains Garage Ventures Limited (Groww)
Billionbrains Garage Ventures, Groww’s parent company, aims to raise approximately Rs. 6,500-7,000 crore, which includes a fresh issue component of Rs. 1,060 crore, while the rest will be an offer for sale (OFS) of up to 57.42 crore equity shares by promoters and investors, including Lalit Keshre, Harsh Jain, Ishan Bansal, Neeraj Singh, and others.
- Lenskart Solutions Limited
Lenskart Solutions Limited aims to raise Rs. 7,278.02 crores, which includes a fresh issue component of Rs. 2,150 crores, while the rest will be an offer for sale (OFS) of up to 12.76 crore equity shares worth Rs. 5,128.02 crores by promoters and investors, including Peyush Bansal, Neha Bansal, Amit Chaudhary, Sumeet Kapahi, and others. This IPO will run from October 31 to November 4.
- ICICI Prudential Asset Management Company Limited
ICICI Prudential Asset Management Company Limited aims to raise approximately Rs. 9,000-10,000 crore, which includes a fully offered for sale (OFS) of up to 1.77 crore equity shares by the promoter, including Prudential Corporation Holdings Limited
- Pine Labs Limited
Pine Labs Limited aims to raise approximately Rs. 5,500-6000 crore, which includes a fresh issue component of Rs. 2,600 crore, while the rest will be an offer for sale (OFS) of up to 14.78 crore equity shares by investors and individuals, including PayPal Pte. Ltd, Peak XV Partners Pine Investment Holdings, Actis Pine Labs Investment Holdings Limited, and others.
- PhysicsWallah Limited
PhysicsWallah Limited aims to raise about Rs. 3,820 crore, which includes a fresh issue component of Rs. 3,100 crore, while the rest will be an offer for sale (OFS) of Rs. 720 crore by Promoters, including Alakh Pandey and Prateek Boob.
- Tenneco Clean Air India Limited
Tenneco Clean Air India Limited aims to raise about Rs. 3,000 crore, which includes a fully offered for sale (OFS) of Rs. 3,000 crore by the promoter, including Tenneco Mauritius Holdings Limited
- Prestige Hospitality Ventures Limited
Prestige Hospitality Ventures Limited aims to raise about Rs. 2,700 crore, which includes a fresh issue component of Rs. 1,700 crore, while the rest will be an offer for sale (OFS) of Rs. 1,000 crore by Promoters, including Prestige Estates Projects Limited.
- Imagine Marketing Limited (known for Boat)
Imagine Marketing Limited, known for Boat, aims to raise about Rs. 2,000 crore, which includes a fresh issue component of Rs. 900 crore, while the rest will be an offer for sale (OFS) of Rs. 1,100 crore by Promoters and Investors, including Sameer Mehta, Aman Gupta, and South Lakes Investment Limited
- Park Medi World Limited
Park Medi World Limited aims to raise about Rs. 1,260 crore, which includes a fresh issue component of Rs. 960 crore, while the rest will be an offer for sale (OFS) of Rs. 300 crore by Promoters, including Dr Ajit Gupta.
Indian IPOs in 2025
So far this year, India’s primary market has seen 84 companies go public, raising over Rs. 1.23 lakh crore in total. While the overall fundraising has been impressive, the listing performance of these IPOs has been mixed.
Out of the 84 mainboard IPOs, 49 debuted with gains, giving early investors a positive start, while 32 ended up listing below their issue price, reflecting the cautious sentiment in the market. This trend shows that while IPOs remain an attractive way for companies to raise capital, investors need to carefully assess each offering before jumping in.
Written By – Nikhil Naik
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