{"id":15355,"date":"2025-10-22T16:31:30","date_gmt":"2025-10-22T11:01:30","guid":{"rendered":"https:\/\/www.gwcindia.in\/blog\/?p=15355"},"modified":"2025-10-22T16:42:16","modified_gmt":"2025-10-22T11:12:16","slug":"ipo-watch-upcoming-listings-to-track-in-2025","status":"publish","type":"post","link":"https:\/\/www.gwcindia.in\/blog\/ipo-watch-upcoming-listings-to-track-in-2025\/","title":{"rendered":"IPO Watch: Upcoming Listings to Track in 2025"},"content":{"rendered":"<h2 data-start=\"273\" data-end=\"325\"><strong data-start=\"276\" data-end=\"325\">IPO Watch: Upcoming Listings to Track in 2025<\/strong><\/h2>\n<p data-start=\"327\" data-end=\"685\">The Indian IPO market is entering a vibrant phase in 2025, with a flurry of listings expected across sectors such as fintech, education, NBFCs, and consumer brands. For investors looking to participate in the next wave of growth, this is a good time to keep an eye on the most promising upcoming IPOs, their business models, key metrics, and potential risks.<\/p>\n<hr data-start=\"687\" data-end=\"690\" \/>\n<h3 data-start=\"692\" data-end=\"734\"><strong data-start=\"696\" data-end=\"734\">Why the IPO Pipeline is Heating Up<\/strong><\/h3>\n<p data-start=\"736\" data-end=\"888\">According to recent reports, more than 80 IPOs have already been launched in 2025, with about \u20b980,000 crore raised so far.<\/p>\n<p data-start=\"890\" data-end=\"1009\">The primary market still has around \u20b941,000 crore worth of issues likely before year-end.<\/p>\n<p data-start=\"1011\" data-end=\"1177\">Regulatory tweaks by the Securities and Exchange Board of India (SEBI)\u2014such as easing minimum public shareholding norms\u2014are making IPOs more accessible.<\/p>\n<hr data-start=\"1179\" data-end=\"1182\" \/>\n<h3 data-start=\"1184\" data-end=\"1218\"><strong data-start=\"1188\" data-end=\"1218\">Top Upcoming IPOs to Watch<\/strong><\/h3>\n<p data-start=\"1220\" data-end=\"1281\">Here are some of the most anticipated listings for late 2025:<\/p>\n<hr data-start=\"1283\" data-end=\"1286\" \/>\n<h4 data-start=\"1288\" data-end=\"1347\"><strong data-start=\"1293\" data-end=\"1347\">1. ICICI Prudential Asset Management Company (AMC)<\/strong><\/h4>\n<p data-start=\"1349\" data-end=\"1413\"><strong data-start=\"1349\" data-end=\"1374\">Estimated Issue Size:<\/strong> ~\u20b9 10,000 crore<\/p>\n<p data-start=\"1415\" data-end=\"1555\"><strong data-start=\"1415\" data-end=\"1428\">Business:<\/strong> One of India\u2019s leading mutual fund houses, managing diverse equity, debt, and hybrid schemes under the ICICI Group umbrella.<\/p>\n<p data-start=\"1557\" data-end=\"1583\"><strong data-start=\"1557\" data-end=\"1581\">Key Things to Watch:<\/strong><\/p>\n<ul data-start=\"1584\" data-end=\"1760\">\n<li data-start=\"1584\" data-end=\"1636\">\n<p data-start=\"1586\" data-end=\"1636\">AUM growth amid increasing retail participation.<\/p>\n<\/li>\n<li data-start=\"1637\" data-end=\"1689\">\n<p data-start=\"1639\" data-end=\"1689\">Competition from passive and index fund players.<\/p>\n<\/li>\n<li data-start=\"1690\" data-end=\"1760\">\n<p data-start=\"1692\" data-end=\"1760\">Impact of SEBI\u2019s regulatory changes on expense ratios and margins.<\/p>\n<\/li>\n<\/ul>\n<hr data-start=\"1762\" data-end=\"1765\" \/>\n<h4 data-start=\"1767\" data-end=\"1810\"><strong data-start=\"1772\" data-end=\"1810\">2. PhysicsWallah (EdTech Platform)<\/strong><\/h4>\n<p data-start=\"1812\" data-end=\"1876\"><strong data-start=\"1812\" data-end=\"1837\">Estimated Issue Size:<\/strong> ~\u20b9 8,000 crore<\/p>\n<p data-start=\"1878\" data-end=\"2035\"><strong data-start=\"1878\" data-end=\"1891\">Business:<\/strong> India\u2019s fastest-growing education technology company, offering online and offline coaching for competitive exams such as JEE, NEET, and UPSC.<\/p>\n<p data-start=\"2037\" data-end=\"2063\"><strong data-start=\"2037\" data-end=\"2061\">Key Things to Watch:<\/strong><\/p>\n<ul data-start=\"2064\" data-end=\"2247\">\n<li data-start=\"2064\" data-end=\"2121\">\n<p data-start=\"2066\" data-end=\"2121\">Profitability amid rising customer acquisition costs.<\/p>\n<\/li>\n<li data-start=\"2122\" data-end=\"2180\">\n<p data-start=\"2124\" data-end=\"2180\">Growth in hybrid learning (offline centers expansion).<\/p>\n<\/li>\n<li data-start=\"2181\" data-end=\"2247\">\n<p data-start=\"2183\" data-end=\"2247\">Regulatory environment for edtech and data privacy compliance.<\/p>\n<\/li>\n<\/ul>\n<hr data-start=\"2249\" data-end=\"2252\" \/>\n<h4 data-start=\"2254\" data-end=\"2300\"><strong data-start=\"2259\" data-end=\"2300\">3. Groww (Trading &amp; Broking Platform)<\/strong><\/h4>\n<p data-start=\"2302\" data-end=\"2365\"><strong data-start=\"2302\" data-end=\"2322\">Estimated Raise:<\/strong> ~\u20b9 6,500 crore<\/p>\n<p data-start=\"2367\" data-end=\"2511\"><strong data-start=\"2367\" data-end=\"2380\">Business:<\/strong> A popular online investment platform offering demat, mutual fund, and stock investing services to retail investors across India.<\/p>\n<p data-start=\"2513\" data-end=\"2539\"><strong data-start=\"2513\" data-end=\"2537\">Key Things to Watch:<\/strong><\/p>\n<ul data-start=\"2540\" data-end=\"2665\">\n<li data-start=\"2540\" data-end=\"2591\">\n<p data-start=\"2542\" data-end=\"2591\">Profitability path and operational scalability.<\/p>\n<\/li>\n<li data-start=\"2592\" data-end=\"2624\">\n<p data-start=\"2594\" data-end=\"2624\">Regulatory risks in fintech.<\/p>\n<\/li>\n<li data-start=\"2625\" data-end=\"2665\">\n<p data-start=\"2627\" data-end=\"2665\">Sustainability of rapid user growth.<\/p>\n<\/li>\n<\/ul>\n<hr data-start=\"2667\" data-end=\"2670\" \/>\n<h4 data-start=\"2672\" data-end=\"2719\"><strong data-start=\"2677\" data-end=\"2719\">4. Lenskart Solutions (Eyewear Retail)<\/strong><\/h4>\n<p data-start=\"2721\" data-end=\"2795\"><strong data-start=\"2721\" data-end=\"2746\">Estimated Issue Size:<\/strong> Up to ~\u20b9 6,000 crore<\/p>\n<p data-start=\"2797\" data-end=\"2919\"><strong data-start=\"2797\" data-end=\"2810\">Business:<\/strong> India\u2019s most recognized eyewear retailer, with a growing digital-first model and a strong offline network.<\/p>\n<p data-start=\"2921\" data-end=\"2947\"><strong data-start=\"2921\" data-end=\"2945\">Key Things to Watch:<\/strong><\/p>\n<ul data-start=\"2948\" data-end=\"3103\">\n<li data-start=\"2948\" data-end=\"2993\">\n<p data-start=\"2950\" data-end=\"2993\">Competition in the retail eyewear market.<\/p>\n<\/li>\n<li data-start=\"2994\" data-end=\"3042\">\n<p data-start=\"2996\" data-end=\"3042\">Margins amid global supply chain volatility.<\/p>\n<\/li>\n<li data-start=\"3043\" data-end=\"3103\">\n<p data-start=\"3045\" data-end=\"3103\">Profitability and potential for international expansion.<\/p>\n<\/li>\n<\/ul>\n<hr data-start=\"3105\" data-end=\"3108\" \/>\n<h4 data-start=\"3110\" data-end=\"3152\"><strong data-start=\"3115\" data-end=\"3152\">5. Pine Labs (Fintech \/ Payments)<\/strong><\/h4>\n<p data-start=\"3154\" data-end=\"3218\"><strong data-start=\"3154\" data-end=\"3169\">Issue Size:<\/strong> ~\u20b9 5,500\u20136,000 crore<\/p>\n<p data-start=\"3220\" data-end=\"3369\"><strong data-start=\"3220\" data-end=\"3233\">Business:<\/strong> A major payment solutions provider offering POS systems and fintech services, with expansion into Southeast Asia and the Middle East.<\/p>\n<p data-start=\"3371\" data-end=\"3397\"><strong data-start=\"3371\" data-end=\"3395\">Key Things to Watch:<\/strong><\/p>\n<ul data-start=\"3398\" data-end=\"3555\">\n<li data-start=\"3398\" data-end=\"3452\">\n<p data-start=\"3400\" data-end=\"3452\">Path to profitability and revenue diversification.<\/p>\n<\/li>\n<li data-start=\"3453\" data-end=\"3514\">\n<p data-start=\"3455\" data-end=\"3514\">New business verticals such as BNPL (Buy Now, Pay Later).<\/p>\n<\/li>\n<li data-start=\"3515\" data-end=\"3555\">\n<p data-start=\"3517\" data-end=\"3555\">Valuation and growth sustainability.<\/p>\n<\/li>\n<\/ul>\n<hr data-start=\"3557\" data-end=\"3560\" \/>\n<h3 data-start=\"3562\" data-end=\"3624\"><strong data-start=\"3566\" data-end=\"3624\">How to Evaluate an IPO: What Investors Should Focus On<\/strong><\/h3>\n<p data-start=\"3626\" data-end=\"3758\"><strong data-start=\"3626\" data-end=\"3666\">1. Business Model &amp; Growth Potential<\/strong><br data-start=\"3666\" data-end=\"3669\" \/>Does the company have a scalable, defendable business? Are sector tailwinds favourable?<\/p>\n<ul data-start=\"3759\" data-end=\"3908\">\n<li data-start=\"3759\" data-end=\"3831\">\n<p data-start=\"3761\" data-end=\"3831\">Example: Fintech (Groww, Pine Labs) riding the digital payment boom.<\/p>\n<\/li>\n<li data-start=\"3832\" data-end=\"3908\">\n<p data-start=\"3834\" data-end=\"3908\">Example: EdTech (PhysicsWallah) leveraging India\u2019s education revolution.<\/p>\n<\/li>\n<\/ul>\n<p data-start=\"3910\" data-end=\"4103\"><strong data-start=\"3910\" data-end=\"3950\">2. Financial Metrics &amp; Profitability<\/strong><br data-start=\"3950\" data-end=\"3953\" \/>Look at revenue growth, margins, and return ratios.<br data-start=\"4004\" data-end=\"4007\" \/>Newly listed firms often trade at valuations higher than growth expectations\u2014exercise caution.<\/p>\n<p data-start=\"4105\" data-end=\"4360\"><strong data-start=\"4105\" data-end=\"4139\">3. Valuation &amp; Issue Structure<\/strong><br data-start=\"4139\" data-end=\"4142\" \/>Examine the price band, lot size, and proportion of fresh issue vs. Offer-for-Sale (OFS).<br data-start=\"4231\" data-end=\"4234\" \/>High subscription and \u201cGrey Market Premium\u201d (GMP) may drive short-term listing gains, but not necessarily long-term success.<\/p>\n<p data-start=\"4362\" data-end=\"4426\"><strong data-start=\"4362\" data-end=\"4406\">4. Risk Factors &amp; Regulatory Environment<\/strong><br data-start=\"4406\" data-end=\"4409\" \/>Keep an eye on:<\/p>\n<ul data-start=\"4427\" data-end=\"4586\">\n<li data-start=\"4427\" data-end=\"4484\">\n<p data-start=\"4429\" data-end=\"4484\">Sectoral regulations (Fintech, EdTech, AMC industry).<\/p>\n<\/li>\n<li data-start=\"4485\" data-end=\"4534\">\n<p data-start=\"4487\" data-end=\"4534\">Competitive landscape and economic headwinds.<\/p>\n<\/li>\n<li data-start=\"4535\" data-end=\"4586\">\n<p data-start=\"4537\" data-end=\"4586\">Promoter track record and corporate governance.<\/p>\n<\/li>\n<\/ul>\n<p data-start=\"4588\" data-end=\"4794\"><strong data-start=\"4588\" data-end=\"4620\">5. Timing &amp; Market Sentiment<\/strong><br data-start=\"4620\" data-end=\"4623\" \/>IPOs tend to perform well when secondary markets are buoyant.<br data-start=\"4684\" data-end=\"4687\" \/>However, true wealth creation happens through sustained performance after listing\u2014not just listing gains.<\/p>\n<hr data-start=\"4796\" data-end=\"4799\" \/>\n<h3 data-start=\"4801\" data-end=\"4853\"><strong data-start=\"4805\" data-end=\"4853\">Should Retail Investors Participate in IPOs?<\/strong><\/h3>\n<p data-start=\"4855\" data-end=\"4866\"><strong data-start=\"4855\" data-end=\"4864\">Pros:<\/strong><\/p>\n<ul data-start=\"4867\" data-end=\"4969\">\n<li data-start=\"4867\" data-end=\"4936\">\n<p data-start=\"4869\" data-end=\"4936\">Early participation in India\u2019s next generation of market leaders.<\/p>\n<\/li>\n<li data-start=\"4937\" data-end=\"4969\">\n<p data-start=\"4939\" data-end=\"4969\">Potential for listing gains.<\/p>\n<\/li>\n<\/ul>\n<p data-start=\"4971\" data-end=\"4982\"><strong data-start=\"4971\" data-end=\"4980\">Cons:<\/strong><\/p>\n<ul data-start=\"4983\" data-end=\"5102\">\n<li data-start=\"4983\" data-end=\"5009\">\n<p data-start=\"4985\" data-end=\"5009\">Risk of overvaluation.<\/p>\n<\/li>\n<li data-start=\"5010\" data-end=\"5058\">\n<p data-start=\"5012\" data-end=\"5058\">Profitability may take years to materialize.<\/p>\n<\/li>\n<li data-start=\"5059\" data-end=\"5102\">\n<p data-start=\"5061\" data-end=\"5102\">Limited liquidity due to lock-in norms.<\/p>\n<\/li>\n<\/ul>\n<p data-start=\"5104\" data-end=\"5129\"><strong data-start=\"5104\" data-end=\"5127\">Suggested Approach:<\/strong><\/p>\n<ul data-start=\"5130\" data-end=\"5302\">\n<li data-start=\"5130\" data-end=\"5183\">\n<p data-start=\"5132\" data-end=\"5183\">Allocate a small portion of your total portfolio.<\/p>\n<\/li>\n<li data-start=\"5184\" data-end=\"5246\">\n<p data-start=\"5186\" data-end=\"5246\">Study the company\u2019s fundamentals and prospectus carefully.<\/p>\n<\/li>\n<li data-start=\"5247\" data-end=\"5302\">\n<p data-start=\"5249\" data-end=\"5302\">Avoid chasing hype\u2014focus on quality and valuations.<\/p>\n<\/li>\n<\/ul>\n<hr data-start=\"5304\" data-end=\"5307\" \/>\n<h3 data-start=\"5309\" data-end=\"5331\"><strong data-start=\"5313\" data-end=\"5331\">Final Thoughts<\/strong><\/h3>\n<p data-start=\"5333\" data-end=\"5677\">India\u2019s IPO market for 2025 remains robust, with strong participation from retail and institutional investors alike. Companies like <strong data-start=\"5465\" data-end=\"5489\">ICICI Prudential AMC<\/strong>, <strong data-start=\"5491\" data-end=\"5508\">PhysicsWallah<\/strong>, <strong data-start=\"5510\" data-end=\"5519\">Groww<\/strong>, <strong data-start=\"5521\" data-end=\"5533\">Lenskart<\/strong>, and <strong data-start=\"5539\" data-end=\"5552\">Pine Labs<\/strong> represent diverse sectors\u2014financial services, education, fintech, and consumer retail\u2014reflecting India\u2019s evolving economy.<\/p>\n<p data-start=\"5679\" data-end=\"5984\">For investors, the key lies in <strong data-start=\"5710\" data-end=\"5740\">discipline over excitement<\/strong>\u2014evaluating fundamentals, long-term potential, and aligning IPO participation with broader financial goals. IPOs can offer short-term thrills, but sustained wealth creation comes from holding quality businesses through multiple market cycles.<\/p>\n<p data-start=\"4690\" data-end=\"4926\"><strong>Related Blogs:<\/strong><\/p>\n<p data-start=\"4690\" data-end=\"4926\"><a href=\"https:\/\/www.gwcindia.in\/blog\/top-mistakes-to-avoid-while-investing-in-ipos\/\" target=\"_blank\" rel=\"noopener\">Top Mistakes to Avoid While Investing in IPOs<\/a><\/p>\n<p data-start=\"4690\" data-end=\"4926\"><a href=\"https:\/\/www.gwcindia.in\/blog\/ipo-basics-what-you-must-know-before-you-invest\/\" target=\"_blank\" rel=\"noopener\">IPO Basics: What You Must Know Before You Invest<\/a><\/p>\n<p data-start=\"4690\" data-end=\"4926\"><a href=\"https:\/\/www.gwcindia.in\/blog\/how-to-find-a-good-ipo-and-when-to-invest-in-it\/\" target=\"_blank\" rel=\"noopener\">How to find a good IPO and when to invest in it?<\/a><\/p>\n<p data-start=\"4690\" data-end=\"4926\"><strong>Disclaimer:<\/strong>\u00a0This blog post is intended for informational purposes only and should not be considered financial advice. The financial data presented is subject to change over time, and the securities mentioned are examples only and do not constitute investment recommendations. Always conduct thorough research and consult with a qualified financial advisor before making any investment decisions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>IPO Watch: Upcoming Listings to Track in 2025 The Indian IPO market is entering a vibrant phase in 2025, with a flurry of listings expected across sectors such as fintech, education, NBFCs, and consumer brands. For investors looking to participate in the next wave of growth, this is a good time to keep an eye [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":15362,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[2614,2624,2613,2608,2619,2589,540,2621,2618,2617,2623,2612,2620,2607,2609,2616,2615,2622,2610,2611,2565,2597,1003,1020,2504],"class_list":["post-15355","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-consumer-brand-ipos","tag-financial-education","tag-fintech-ipos","tag-groww-ipo","tag-how-to-invest-in-ipos","tag-indian-equities-2025","tag-indian-stock-market","tag-investment-planning","tag-ipo-analysis","tag-ipo-evaluation","tag-ipo-guide","tag-ipo-investing","tag-ipo-strategy","tag-ipo-watch-2025","tag-lenskart-ipo","tag-manufacturing-ipos","tag-nbfc-ipos","tag-new-listings-india","tag-pine-labs-ipo","tag-primary-market-trends","tag-retail-investors","tag-sebi-regulations","tag-stock-market-india","tag-upcoming-ipos-india","tag-wealth-creation"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/posts\/15355","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/comments?post=15355"}],"version-history":[{"count":5,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/posts\/15355\/revisions"}],"predecessor-version":[{"id":15363,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/posts\/15355\/revisions\/15363"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/media\/15362"}],"wp:attachment":[{"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/media?parent=15355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/categories?post=15355"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/tags?post=15355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}