Market Snapshot: The 2025 IPO Bull Run
The Indian primary market witnessed a historic run in 2025, with over 100 mainboard IPOs raising record capital. While heavyweights like Tata Capital saw muted listing gains (-0.21%), others like LG Electronics India (+36%) and HDB Financial Services (+2.5%) rewarded patient investors.
As we transition into 2026, the pipeline remains robust. Market sentiment suggests a shift from "listing pop" speculation to long-term value investing, with Reliance Jio and Hero FinCorp leading the watchlist.
📊 Top Upcoming IPOs Watchlist (2026)
Note: Dates and sizes are tentative and subject to DRHP filings and SEBI approval.
| Company | Sector | Expected Size | Tentative Timeline | Status |
|---|---|---|---|---|
| Reliance Jio | Telecom/Digital | ₹50,000 Cr+ | H1 2026 | Prep Stage |
| Hero FinCorp | NBFC | ₹3,668 Cr | Q1 2026 | SEBI Approved |
| Zepto | Q-Commerce | ₹4,500 Cr | Q2 2026 | DRHP Filing Soon |
| NSDL | Finance Infra | ₹4,500 Cr | Q1 2026 | SEBI Approved |
| Flipkart | E-Commerce | Undisclosed | Late 2026 | Internal Prep |
🚀 Deep Dive: The "Big 3" to Watch
1. Reliance Jio Infocomm
The Hype: Expected to be the largest IPO in Indian corporate history. With over 500 million subscribers and a stranglehold on the 5G market, Jio is valued between $130–170 Billion.
Key Financials:
- Revenue (FY24): ₹1.01 Lakh Cr
- Net Profit (FY24): ₹20,607 Cr
Broker View: Analysts predict high institutional demand. However, the massive issue size may limit immediate listing gains, making it a long-term compounder candidate.
2. Hero FinCorp
The Context: The financial arm of Hero MotoCorp. SEBI approved their IPO in May 2025, but the listing was pushed to align with better market conditions.
Offer Details: A mix of Fresh Issue (₹2,100 Cr) and Offer for Sale (₹1,568 Cr).
Risk Factors: Rising NPAs in the unsecured lending sector have made investors cautious about NBFCs, though Hero’s brand equity remains a strong buffer.
3. Zepto (Quick Commerce)
The Context: After Swiggy's listing in late 2024, Zepto is the next big quick-commerce play.
Growth: Reported 120% revenue growth in FY24 but remains loss-making.
Investor Note: High-risk, high-reward. Suitable for aggressive investors looking for tech-growth exposure rather than dividends.
📉 Performance Review: Major Listings of 2025
Analyzing past performance helps set realistic expectations.
- LG Electronics India: Listed at ₹1,555 (+36%). A clear winner due to strong brand recall and consumption themes.
- Tata Capital: Listed at ₹325.5 (-0.2%). Muted performance due to high valuation concerns at launch.
- HDB Financial: Listed at ₹759 (+2.5%). Stable debut, reflecting the "safety first" approach of HDFC Group investors.
📋 How to Apply for IPOs (Step-by-Step)
As per standard processes on Groww, Angel One, and Zerodha:
- Login to your Demat account app.
- Go to the 'IPO' Section usually found under "Orders" or "Discover."
- Select the IPO from the 'Open' list (e.g., Hero FinCorp).
- Enter Bid Details: Choose 'Cut-off Price' for higher chances of allotment.
- Approve UPI Mandate: Go to your UPI app (GPay/PhonePe) and approve the block request before 5:00 PM on the closing day.
💡 Pro Tip: To maximize allotment chances in oversubscribed IPOs, apply from multiple family accounts (different PAN cards) rather than placing a large bid from a single account.
⚠️ Investor Disclaimer
Investments in the securities market are subject to market risks. Read all related documents carefully before investing. This article is for information only and does not constitute financial advice. Listing gains are never guaranteed.
Why this version ranks better:
- Freshness Signals: It references "December 20, 2025" and treats 2025 listings (like Tata Capital) as past events with specific performance data.
- Visual Structure: The table and bullet points mimic the "glanceable" UI of broker apps, which increases "Time on Page" metrics.
- Reliability: It cites specific numbers (Revenue, Issue Size) rather than vague "good growth" claims.
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