Upcoming IPOs: Tata Capital, Lenskart among big-ticket IPOs to be launched in 2025; check full list

HDB Financial Services IPO made its strong market debut last week. The ₹12,500 crore IPO was subscribed nearly 17 times and listed at 12.8% premium over its issue price of ₹740 per share.

HDFC Bank’s NBFC arm was one of the biggest IPOs of this year in terms of issue size. Before HDB Financial IPO, Hexaware Technologies IPO raised ₹8,759 crore in Feburary 2025.

After successful debut of HDB Financial IPO many investors who missed applying for the this major IPOs are now waiting for other big companies to come up with their IPOs in second half of 2025.

Tata Capital (Issue size: approx ₹17,200 crore)

Tata group company, Tata Capital is most likely to bring its public issue by this year end. Tata Capital is categorised as an upper-layer NBFC as per the RBI scale-based regulation for NBFCs. Hence, the company is mandated to its shares on stock exchanges by September 2025.

As per moneycontrol report, Tata Capital recently rolled out its rights issue at ₹343 per share. In FY25, Tata Capital’s loan book stood at ₹1.98 lakh crore, and its gross NPA stood at 2.33%, up from 1.71% in FY24. In May 2025, the company got final approval from NCLT to merge Tata Motors Finance.

LG Electronics India (Issue size: approx. ₹15,000 crore)

Another South Korean company, LG Electronics plans to bring public issue for its India unit after the successful listing of Hyundai Motor India IPO last year. LG Electronics plans to divest 15% stake in its Indian operations, while the IPO will be complete offer-for-sale by its promoters worth ₹15,000 crore. The IPO is likely to come by this year-end.

Lenskart Solutions (Issue size: approx. ₹8,600 crore)

Eyewear company plans to bring its mega IPO in 2025 to raise up to $1 billion, which would value the company at about $10 billion. Last month, the company converted itself into public company to Lenskart Solutions Limited ahead of planned IPO.

As per livemint report, Lenskart founder Peyush Bansal is also reportedly seeking to acquire a 1.5-2% stake in the eyewear retailer, that amounts to around $150 million, from existing investors ahead of the planned IPO. The company has also invested in AI-glasses company Ajna Lens recently to expand its product offerings.

Hero Fincorp (Issue size: approx. ₹3,408 crore)

Hero MotoCorp-backed NBFC Hero FinCorp also plans to bring its IPO this year. As per a report by moneycontrol, the company raised ₹260 crore in a pre-IPO placement round from a group of investors. The company has already received approval from SEBI to launch its IPO. Hero FinCorp offers various financial products to retail and MSME customers.

JSW Cement (Issue size: approx. ₹4,000 crore)

JSW group company, JSW Cement is also planning to bring its public issue as early as this month. This IPO will be a combination of fresh issue and offer for sale. The company has a strong presence in Western and Southern part of India. The company’s IPO comes amid India’s strong infrastructure push. JSW Cement plans to use net IPO proceeds to set up a new cement plant, repay borrowings and for general corporate purposes.

NSDL (Issue size: approx. ₹3,421.6 crore)

Public issue of depository service provider, National Securities Depository (NSDL) is likely to be launched this month around 3rd week of July. NSDL offers dematerialisation of securities and facilitates the electronic settlement of trades in the Indian securities market. The company competes with Central Depository Services (CDSL) for market share.

Other prominent companies like Vikram Solar, defence equipment company SMPP Ltd, Avanse Financial Services, Sri Lotus Developers, jewellery retailer BlueStone and Brigade Hotel Ventures also plans to bring this public issue this year.