Upcoming IPOs to Watch in 2025: Complete Calendar and Insights

As the Indian capital market continues to expand, 2025 is shaping up to be a significant year for Initial Public Offerings (IPOs). A growing number of companies—from well-established industry leaders to disruptive startups—are preparing to tap into public markets for growth capital. For investors, both retail and institutional, this presents fresh opportunities to participate in promising businesses at a critical stage of their journey.
In this article, we’ll look at some of the most anticipated upcoming IPOs for 2025, explain how to use an IPO calendar effectively, and provide insights into how to evaluate these offers with clarity and confidence.

Why 2025 Could Be a Landmark Year for IPOs
After a cautious period marked by macroeconomic concerns and global uncertainty, investor sentiment is gradually improving. Companies that had previously delayed their public listings due to volatile market conditions are now showing renewed interest in going public. With better liquidity, a stable regulatory environment, and a broader investor base, 2025 could mark a strong revival for IPO activity.
This optimism is not limited to large-cap companies. The SME segment is also expected to witness a surge in listings, especially from sectors such as clean energy, consumer tech, financial services, and pharmaceuticals. Retail participation, which has grown significantly over the past few years, is also likely to continue its upward trend, thanks to improved access to information and simplified online application processes.

Key Upcoming IPOs to Watch in 2025
While final dates and details are often confirmed closer to the issue period, several companies have already made headlines for their expected IPOs in 2025. Here are some notable names:
Ola Electric
One of the most anticipated IPOs, Ola Electric is expected to enter the public market to support its ambitious plans in the electric vehicle (EV) sector. With a strong brand presence and government-backed industry tailwinds, this IPO is likely to attract substantial attention.
Swiggy
After rival Zomato’s listing, Swiggy’s IPO has been widely awaited. Its diversified platform, which includes food delivery, quick commerce, and subscription services, positions it well in the evolving digital consumer space.
Mobikwik
Mobikwik, which deferred its IPO earlier, may re-enter the pipeline in 2025. As a player in the fintech space, its offerings in digital payments and consumer credit could appeal to both retail and institutional investors.
PharmEasy
The healthcare platform may finally list after previous delays. With the sector experiencing sustained growth, PharmEasy could offer long-term value to investors seeking exposure to online healthcare services.
Waaree Energies
In the solar energy sector, Waaree’s IPO is expected to gain traction among investors focused on sustainable and ESG-aligned portfolios.

How to Use the IPO Calendar Effectively
An IPO calendar serves as a practical tool to stay updated and make informed investment decisions. It typically includes:
Company name and industry

Opening and closing dates of the issue

Price band and lot size

Allotment and listing dates

Links to the Draft Red Herring Prospectus (DRHP)

By regularly following the IPO calendar, investors can plan their applications, compare offerings across sectors, and avoid last-minute decisions based on media hype.
Keeping track of issue sizes and subscription trends also allows for better capital allocation, especially for investors looking to participate in multiple IPOs over the year.

What to Watch Beyond the Calendar
While dates and timelines are useful, smart IPO investing requires deeper evaluation. Some important factors include:
Business Model and Fundamentals
Understand how the company earns revenue and whether it has a sustainable competitive advantage. Review profitability, margins, and scalability.
Promoter and Management Background
A capable and experienced leadership team often indicates sound governance and long-term vision.
Valuation
Always compare the IPO pricing with listed peers in the same industry. Overvaluation can lead to weak post-listing performance, even for popular brands.
Use of Proceeds
Companies should have a clear and sensible plan for how they intend to use the funds raised—whether for expansion, debt reduction, or innovation.

A Word on Grey Market Premium (GMP)
GMPs are widely followed as an unofficial indicator of demand. While a rising GMP can suggest strong investor interest, it should never be the sole basis for applying to an IPO. These figures can be speculative and influenced by market rumors, so it's wise to rely on fundamentals first.

Final Thoughts
The IPO landscape in 2025 is expected to be diverse, dynamic, and full of potential. With companies from both emerging and traditional sectors entering the fray, investors will have numerous options to explore. However, not every IPO guarantees returns. The key lies in thorough analysis, timely planning, and the discipline to invest based on data rather than sentiment.
By using an IPO calendar wisely and staying updated with credible financial sources, you’ll be better positioned to identify the right opportunities and make informed investment choices throughout the year.
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