Jio, Tata Capital, LG Electronics India, Lenskart among most-awaited big-ticket IPOs in India; check list

Upcoming big-ticket IPOs: A total of 50 mainboard IPOs have launched in 2025 so far, and the primary market is expected to remain busy in the remaining months of the current calendar year (CY25) and the first half of CY26. Several big-ticket initial public offerings, including Reliance Jio, Tata Capital and LG Electronics India, are expected to make their market debut.

HDB Financial IPO, which had an issue size of ₹12,500 crore, remains the biggest issue of 2025. However, the title could be taken by Tata Capital, which is expected to raise around ₹17,200 crore.

Tata Capital IPO

The proposed IPO is a mix of fresh issuance of 21 crore equity shares and an offer for sale of 26.58 crore shares, as per the updated draft red herring prospectus (DRHP) filed with market regulator SEBI in August.

Under the OFS, Tata Sons will divest 23 crore shares, and the International Finance Corporation (IFC) will offload 3.58 crore shares.

The fresh issue proceeds will be utilised to beef up the company's Tier-1 capital base and support future capital requirements, including onwards lending.

The initial share sale is being undertaken to follow RBI's listing mandate for upper-layer NBFCs. As per the rules, this category of NBFCs is required to list on exchanges within three years of classification. Tata Capital was identified as an upper-layer NBFC in September 2022.

Reliance Jio IPO

Reliance Industries Chairman Mukesh Ambani on Friday, during the company's annual general meeting, announced that the initial public offering of Jio, which is India's largest telecom operator, is expected to be introduced by June 2026.

Jio IPO could become the country's biggest-ever public offer by surpassing Hyundai Motor India's ₹27,870 crore issue, which launched in October 2024.

"Jio is making all arrangements to file for its IPO. We are aiming to list Jio by the first half of 2026, subject to all necessary approvals," Ambani said.

While the RIL Chairman did not disclose the quantum of equity shares to debut, markets are expecting a 10% share sale.

LG Electronics IPO

According to the draft red herring prospectus (DRHP), the proposed IPO is solely an offer for sale of 10.18 crore shares by South Korean parent LG Electronics Inc. There is no fresh issuance component.

LG Electronics India is one of India's leading players in the home appliances and consumer electronics segment. It sells its products to business-to-customer (B2C) and business-to-business (B2B) clients in domestic and international markets.

Lenskart IPO

Under the OFS, promoters Peyush Bansal, Neha Bansal, Sumeet Kapahi and Amit Chaudhary; investors Schroders Capital Private Equity Asia Mauritius Ltd, SVF II Lightbulb (Cayman) Ltd, Macritchie Investments Pte Ltd, PI Opportunities Fund – II, Kedaara Capital Fund II LLP, and Alpha Wave Ventures LP would divest shares.

The money generated will be used for capital expenditure needs to set up new CoCo stores, to rent or lease CoCo stores, for brand marketing, to invest in technology and cloud infrastructure and for unidentified inorganic and general corporate purposes.

Lenskart, founded in 2010, opened its maiden physical store in Delhi in 2013 and has grown in both online and offline networks.

Groww IPO

The proposed offer consists of a fresh issue of equity shares and an OFS component. The firm is likely to file its updated preliminary papers publicly in the coming weeks.