Introduction:
The Indian IPO market stood out as one of the highest-performing markets globally in 2024. The IPO boom raised Rs.1.67 lakh crore ($19.5 billion) through 268 mainboards and 178 SME IPOs. This IPO boom will likely continue in 2025 when companies have already lined up for their market debut in January.
This blog will briefly examine the upcoming IPOs in India in 2025 and understand what the IPO market may look like ahead.
IPO Industry in 2024:
2024 was a standout year for IPOs, especially for SMEs. The BSE small-cap index jumped 30% in the past year and 27% year-to-date, while the mid-cap index grew 28% and 24% over the same periods. This growth was driven by strong market conditions, regulatory reforms, and a thriving economy.
Hyundai Motor India’s Rs.27,870 crore IPO was the highlight of the year, marking the largest IPO in Indian history. Swiggy followed with a Rs.11,327 crore issue, and NTPC Green Energy’s Rs.10,000 crore offering became the biggest fresh equity issue ever. Looking ahead, 2025 promises to keep the momentum going. With an IPO pipeline projected to exceed Rs.2.5 lakh crore, excitement is building yet again in the primary market.
Upcoming IPO 2025:
Upcoming IPOs are initial public offerings of companies that have filed the DRHP (Draft Red Herring Prospectus) with SEBI and are expected to launch in 2025. Staying updated on current new IPOs and tracking developments of such upcoming IPOs will help you understand market sentiment and sector performance.
The upcoming IPO list is as follows-
Company Name | Open Date | Close Date | Issue Price | Issue Size | Status |
Leo Dryfruits & Spices Trading Limited | 1st Jan | 3rd Jan | Rs.51-52 | Rs.25.12 crore | IPO Closed |
Parmeshwar Metal Limited | 2nd Jan | 6th Jan | Rs.57-61 | Rs.24.74 crore | Open IPO |
Davin Sons Retail Limited | 2nd Jan | 6th Jan | Rs.55 | Rs.4.61 crore | Open IPO |
Fabtech Technologies Cleanrooms Limited | 3rd Jan | 7th Jan | Rs.80-85 | Rs.27.74 crore | Open IPO |
Indobell Insulations Limited | 6th Jan | 8th Jan | Rs.46 | Rs.5.33 crore | Open IPO |
Standard Glass Lining Technology Limited | 6th Jan | 8th Jan | Rs.133-140 | Rs.410.05 crore | Open IPO |
Avax Apparels and Ornaments Limited | 7th Jan | 9th Jan | Rs.70 | Rs.1.01 crore | Upcoming |
Capital Infra Trust | 7th Jan | 9th Jan | Rs.99-100 | Rs.1,578 crore | Upcoming |
B. R. Goyal Infrastructure Limited | 7th Jan | 9th Jan | Rs.128-135 | Rs.85.21 crore | Upcoming |
Quadrant Future Tek Limited | 7th Jan | 9th Jan | Rs.275-290 | Rs.290 crore | Upcoming |
Delta Autocorp Limited | 7th Jan | 9th Jan | Rs.123-130 | Rs.54.60 crore | Upcoming |
Overview Of Complete IPO List (Upcoming):
- Avax Apparels and Ornaments Limited IPO:
Offer Price | Rs.70 per share |
Face Value | Rs.10 per share |
Opening Date | 7th Jan 2025 |
Closing Date | 9th Jan 2025 |
Total Issue Size (in Shares) | 2,74,000 shares |
Total Issue Size (in Rs.) | Rs.1.92 crore |
Issue Type | Fixed Price Issue IPO |
Lot Size | 2000 shares |
To be listed on | BSE SME |
Avax Apparels And Ornaments Limited, founded in June 2005, operates in two key areas: wholesale trading and online retail of silver ornaments. The company wholesales knitted fabric and sells silver jewelry, including rings, anklets, kada, plate sets, glass, bangles, bowls, chains, and more. It caters to major cities across India.
As of the quarter ending September 2024, it recorded a revenue of Rs.15 crore and a net worth of Rs.4.05 crore. With a PAT margin of 6.26% and ROCE of 61.68% for FY2024, Avax is performing well.
The company is set for an IPO launch on 7th January 2025. The net proceeds of the IPO will be used to meet the company’s working capital needs and for general corporate purposes. It plans to list its fresh issue of 2.74 lakh shares on the BSE SME by 14th January 2025.
- Capital Infra Trust IPO:
Offer Price | Rs.99-100 per share |
Opening Date | 7th Jan 2025 |
Closing Date | 9th Jan 2025 |
Total Issue Size (in Shares) | 15,78,00,000 shares |
Total Issue Size (in Rs.) | Rs.1578 crore |
Issue Type | Book Built Issue IPO |
Lot Size | 150 shares |
To be listed on | NSE and BSE |
Capital Infra Trust, established in September 2023, is an infrastructure investment trust (InvIT) sponsored by Gawar Construction Limited. This InvIT focuses on infrastructure investments as per the SEBI InvIT Regulations. Gawar Construction specializes in road and highway projects across 19 states in India, working with government bodies like NHAI, MoRTH, MMRDA, and CPWD.
The company is planning an IPO that will be open for subscription from 7th January 2025 to 9th January 2025. The funds raised will be used for:
- Providing loans to Project SPVs for repayment or pre-payment of external borrowings, including any interest and prepayment penalties.
- Offering loans to Project SPVs to repay unsecured loans from the Sponsor.
The company aims to list on the BSE and NSE by 14th January 2025. The InvIT IPO will include a fresh issue of 10.77 crore shares, totalling Rs.1,077.00 crores, and an offer for sale of 5.01 crore shares, totalling Rs.501.00 crores.
- B. R. Goyal Infrastructure Limited IPO:
Offer Price | Rs.128-135 per share |
Face Value | Rs.10 per share |
Opening Date | 7th Jan 2025 |
Closing Date | 9th Jan 2025 |
Total Issue Size (in Shares) | 63,12,000 shares |
Total Issue Size (in Rs.) | Rs.10.14 crores |
Issue Type | Book Built Issue IPO |
Lot Size | 1000 shares |
To be listed on | BSE SME |
B.R.Goyal Infrastructure Limited, established in 2005, focuses on building infrastructure projects like roads, highways, bridges, and buildings. The company has built a strong EPC and construction business, supported by a design and engineering team and an RMC unit in Indore, with a capacity of 1.80 lakh cubic meters per year. In 2005, it also ventured into wind energy with a 1.25 MW wind turbine in Jaisalmer, Rajasthan.
As of July 2024, the company reported a revenue of Rs.156.86 crore, a PAT of Rs.1.94 crore, and a net worth of Rs.128.63 crore. B.R.Goyal Infrastructure plans to raise funds through an IPO, opening for subscription on 7th January 2025. The funds will be used for:
- Capital expenditure
- Working capital requirements
- Inorganic growth through strategic initiatives and acquisitions
- General corporate purposes
The 63.12 lakh fresh issue of shares will be listed on the BSE SME on 14th January 2025.
- Quadrant Future Tek Limited IPO:
Offer Price | Rs.275-290 per share |
Face Value | Rs.10 per share |
Opening Date | 7th Jan 2025 |
Closing Date | 9th Jan 2025 |
Total Issue Size (in Shares) | 1,00,00,000 shares |
Total Issue Size (in Rs.) | Rs.290 crore |
Issue Type | Book Built Issue IPO |
Lot Size | 50 shares |
To be listed on | NSE and BSE |
Quadrant Future Tek Limited supplies cables to the defense sector and railroad rolling equipment. Its plant can also produce solar and electric vehicle cables. Founded in September 2015, the company is developing next-generation Train Control and Signaling Systems for Indian Railways’ KAVACH project to improve passenger safety and reliability.
For the quarter ending September 2024, Quadrant earned a revenue of Rs.65.14 crore but faced a loss of Rs.12.11 crore. Despite this, its net worth remains stable at Rs.34.18 crore. The company is raising Rs.290 crore through a book-built IPO, which will be used for:
- Long-term working capital requirements
- Capital expenditure for developing the Electronic Interlocking System
- Repayment of outstanding working capital loans
- General corporate purposes
The IPO, which offers a fresh issue of 1 crore shares, is scheduled to be listed on the NSE and BSE on 14th January 2025.
- Delta Autocorp Limited IPO:
Offer Price | Rs.123-130 per share |
Face Value | Rs.10 per share |
Opening Date | 7th Jan 2025 |
Closing Date | 9th Jan 2025 |
Total Issue Size (in Shares) | 42,00,000 shares |
Total Issue Size (in Rs.) | Rs.54.60 crores |
Issue Type | Book Built Issue IPO |
Lot Size | 1000 shares |
To be listed on | NSE SME |
Delta Autocorp Limited manufactures and sells two- and three-wheeler electric vehicles using top-notch components from trusted OEMs. The company designs these vehicles using specific engineering and manufacturing processes. It also supplies vehicle-compatible components. For the period ending October 2024, Delta Autocorp achieved total revenues of Rs 45.17 crore and a net profit of Rs 4.80 crore. Its net worth stands at Rs 22.70 crore.
Now, the company is raising Rs 54.60 crore through a book-built IPO. The proceeds will be used to set up an electric three-wheeler fabrication plant, invest in new product development, cover working capital needs, and serve general corporate purposes.
The Delta Autocorp IPO consists of a fresh issue of 38.88 lakh shares (Rs 50.54 crore) and an offer for sale of 3.12 lakh shares (Rs 4.06 crore). The shares will be listed on the NSE SME platform on 14th January 2025
Apart from the mentioned companies, other IPOs yet to be scheduled include
- Navi Technologies IPO
- Survival Technologies IPO
- Reliance Jio IPO
- PharEasy IPO
- Snapdeal IPO
Bottomline:
Investing in an IPO can offer a range of benefits, such as the potential for significant returns and the opportunity to participate in a company’s growth journey. However, it’s essential to approach IPO investments with caution. Thorough research is crucial, and understanding the company’s fundamentals, market position, and growth potential is key.
Additionally, seeking advice from a registered share market advisor can help make more informed decisions and minimize risks. By taking the time to analyze and assess the offering carefully, investors can ensure a smarter and more rewarding IPO investment experience.
FAQs on Upcoming IPOs in Jan 2025
What happens when an IPO is oversubscribed?
If the number of shares demanded exceeds the number of shares offered to the public in the IPO, the company may choose to distribute the available shares on a pro-rata basis.
Who are anchor investors?
Anchor investors are key institutional or high-net-worth individuals who invest in an IPO before it opens to the public, helping to build confidence and attract other investors.
How much does an HNI invest?
An HNI (High Net-Worth Individual) invests between Rs.2 lakh and Rs.5 lakh in an IPO. Non-institutional investors (NIIs) invest over Rs.2 lakh but are not required to be SEBI-registered, unlike Qualified Institutional Investors (QIIs).
Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as a recommendation or investment advice by Equentis – Research & Ranking. We will not be liable for any losses that may occur. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL & certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.
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I’m Archana R. Chettiar, an experienced content creator with
an affinity for writing on personal finance and other financial content. I
love to write on equity investing, retirement, managing money, and more.