5 Big IPOs Set to Light Up Markets Around Diwali

India’s IPO market is preparing for a festive season boost, with several high-profile startups gearing up to launch their initial public offerings (IPOs) around Diwali. Market momentum, supported by steady domestic inflows and regulatory reforms, is encouraging companies to tap the market despite global volatility. Bankers expect three to five notable listings in the late October–November window, according to reports.

Growing Pipeline of Startup IPOs

The renewed investor interest comes as the Securities and Exchange Board of India (SEBI) continues to strengthen disclosure standards and deepen market participation. At the same time, strong domestic mutual fund inflows have helped balance foreign outflows, giving startups confidence to go ahead with their fundraising plans.

Groww

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Online investment platform Groww, India’s largest stockbroker by active clients, has filed updated draft papers for its long-awaited IPO. The offer includes a fresh issue of shares worth up to ₹1,060 crore and an offer for sale (OFS) of 574.2 million shares by existing shareholders. The company may launch its IPO during the festive period, subject to market conditions.

PhysicsWallah

Edtech unicorn PhysicsWallah IPO is also about to test market appetite. The firm has filed updated draft documents for a ₹3,820 crore IPO. While the launch target is around Diwali, industry experts suggest the final schedule will depend on quarterly results and valuation discussions with investors.

Pine Labs

Payments and fintech giant Pine Labs received SEBI approval this week, clearing the regulatory hurdle for its planned IPO. With the green signal in hand, the company is expected to move quickly, making it one of the frontrunners in the October–November lineup.

PhonePe

Walmart-backed payments player PhonePe is likely to file confidential IPO papers as soon as next week. Market sources suggest the company is aiming for a billion-dollar listing, making it one of the most closely tracked offerings of the season. If market conditions remain stable, the issue could hit the market by late October or November.

Lenskart

Eyewear retailer Lenskart is also looking to ride the festive wave. The lenskart solution IPO is planning a public issue worth about ₹2,200 crore. With its strong omnichannel presence and status as India’s largest organised eyewear retailer, Lenskart aims to capitalise on robust consumer demand.

Conclusion

The festive season could mark one of the busiest periods for India’s primary markets in recent years, with big-ticket startups leading the charge. If these IPOs progress as planned, investors will have multiple opportunities to participate in India’s growing digital and consumer ecosystem.