India’s IPO Pipeline Heats Up as 7 Companies Line Up Over ₹10,000 Crore in Issues

With at least seven firms preparing to conduct their initial public offerings (IPOs) over the next several weeks with the goal of raising over ₹10,000 crore in total, the Indian primary market is set to see a frenzy of activity. A variety of companies in the industrial, electronics, financial services, and real estate sectors are stepping up to capitalise on investor interest.

According to sources familiar with the matter, four IPOs worth around ₹3,000 crore are set to debut within a month. These include:

• Brigade Hotel Ventures: Expected issue size of ₹900 crore, with around 10% reserved for retail investors.
• Indiqube Spaces Ltd: Planning to raise ₹850 crore, also allocating 10% to retail.
• Sri Lotus Developers & Realty: Estimated IPO size of ₹700 crore, with a higher retail quota of 35%.
• GNG Electronics: Likely to raise ₹650 crore, with 35% earmarked for retail participants.

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In addition, Property Share Investment Trust has announced its IPO worth ₹470 crore, which is set to open on July 21 and close on July 25. This real estate investment firm aims to attract both institutional and retail investors.

Adding to the momentum are two major players expected to come to market by the end of July—National Securities Depository Limited (NSDL) and Hero Fincorp Ltd. NSDL, which holds regulatory approval from SEBI, plans to launch its ₹3,000 crore IPO before its approval expires. Meanwhile, Hero Fincorp, a non-banking finance company backed by Hero MotoCorp, is targeting to raise ₹3,360 crore.

Hero Fincorp recently raised ₹50 crore in a pre-IPO funding round from Vattikuti Ventures, allotting 3.57 lakh shares at ₹1,400 apiece.

In a separate development, Studds Accessories Ltd, India’s largest two-wheeler helmet manufacturer, has received SEBI approval to proceed with its IPO. The company, also recognised as the world’s largest helmet producer by volume in 2024, plans to raise funds through an offer for sale (OFS) of up to 77.86 lakh equity shares with a face value of ₹5 each. IIFL Capital Services Ltd and ICICI Securities Ltd are lead managers for the issue.

Studds has a wide international footprint, exporting to over 70 countries, including key markets in the Americas, Europe, and Asia. It also manufactures helmets for renowned brands like Jay Squared LLC and O’Neal.

Conclusion

One of the busiest periods for India's main market in 2025 may occur in the upcoming weeks. A wide range of businesses, from tech parks to helmet producers and banking behemoths, are looking to earn money through initial public offerings (IPOs). Both institutional and retail investors will be keeping a close eye on fresh listing chances.