Big IPOs Lined Up for H2 2025: Tata Capital, LG, NSDL to Lead ₹35,000 Cr+ Market Rush

India's initial public offering (IPO) market is anticipating a busy second half of 2025 as a number of well-known companies prepare to go public. Tata Capital, LG Electronics India, and National Securities Depository Ltd (NSDL) are at the top of the pack and are all expected to introduce big issues to the stock exchanges in the upcoming months.

According to a recent Axis Capital update, 71 companies have already obtained regulatory permission from SEBI, while another 77 are in the queue. This robust pipeline indicates a market ready for new equity inflows and strong investor confidence.

Notable listings from the first half of the year set the scene. With its ₹12,500 crore IPO, which saw over 17x subscription and sold at a 12.8% premium, HDB Financial Services garnered headlines. Before this, Hexaware Technologies improved market sentiment by raising ₹8,759 crore in February.

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Tata Capital Gears Up for ₹17,200 Crore IPO

Tata Capital is among the most anticipated names this year. As part of the RBI's classification for systemically important NBFCs, the company is required to list its shares by September 2025. Its upcoming IPO, estimated at ₹17,200 crore, is expected to be one of the year’s largest.

Ahead of the listing, Tata Capital launched a rights issue priced at ₹343 per share. The lender’s loan book touched ₹1.98 lakh crore in FY25, while gross NPAs rose to 2.33% from 1.71% a year earlier. The company has also received final approval from the NCLT for merging Tata Motors Finance into its operations, a move aimed at consolidating its lending business.

LG India to Follow Hyundai’s Footsteps with ₹15,000 Cr Issue

After Hyundai Motor India’s successful debut, LG Electronics is now planning to list its Indian arm. The South Korean parent intends to offload 15% of its stake through an offer-for-sale pegged at around ₹15,000 crore. The IPO is expected to hit the market by year-end.

NSDL Eyes July Launch for ₹3,421 Cr Issue

NSDL, a major player in India’s securities infrastructure, is preparing for its IPO, likely in the third week of July. With an estimated issue size of ₹3,421.6 crore, this public issue will provide investors with a rare chance to invest in the back-end systems that power the stock markets. NSDL competes directly with CDSL in the depository services space.

Conclusion

Besides these giants, several other companies are lining up their IPOs. This includes names like Vikram Solar, defence manufacturer SMPP Ltd, Avanse Financial Services, Sri Lotus Developers, jewellery brand BlueStone, and Brigade Hotel Ventures. The upbeat mood surrounding public offerings reflects both liquidity in the market and investor appetite for quality names. With several big launches expected in the coming months, the rest of 2025 could prove to be a turning point for primary market activity in India.