IPO Season is Back: 8 Big Offers Worth ₹26,000 Crore Coming Before July Ends

India’s IPO market is buzzing with energy again. After a quiet stretch earlier this year, eight major companies are ready to go public by the end of July, looking to raise a total of around ₹26,000 crore. That’s a big comeback.

The Heavy Hitters

Leading the pack is HDB Financial Services, the non-banking financial company (NBFC) wing of HDFC Bank. Its IPO could be worth ₹12,500 crore, comprising ₹2,500 crore of fresh shares and ₹10,000 crore via an offer-for-sale (OFS) route. Anchor investors may get their first shot on June 24, with the public issue likely to open between June 25 and 27.

JSW Cement has started pre-IPO roadshows and is eyeing ₹4,000 crore. Then there’s Hero FinCorp, which scaled back a private placement to ₹260 crores and is now targeting ₹3,408 crores, ₹1,840 crores in fresh shares, and ₹1,568 crores in OFS.

NSDL, India’s largest depository, is aiming for a July listing worth approximately ₹3,400 crore, primarily through an Offer for Sale (OFS) from IDBI Bank and the NSE.

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Other players rounding out the list include:

• Kalpataru Projects – ₹1,590 crore
• Ellenbarrie Industrial Gases – ₹400 crore
• Sambhv Steel Tubes – ₹540 crore (with 35% reserved for retail investors)
• Globe Civil Projects – ₹200 crore, IPO set for June 24–26, priced at ₹67–₹71

Why the Sudden Surge?

A few key reasons. First, the stock market is on a roll; the Nifty is up about 15% from its 52-week low. Foreign investors are pouring money in, too, with over ₹14,000 crore coming in just last month.

Calmer geopolitical waters, particularly with tensions easing between Israel and Iran and some expected clarity from the U.S. Federal Reserve, are helping to boost investor confidence.

Zooming Out: A Bigger Wave Coming

These eight IPOs are just the start. SEBI has already approved IPOs for 72 companies this year, aiming to raise a jaw-dropping ₹1.4 lakh crore. And that’s not all; another 68 are waiting for final clearance, chasing nearly ₹95,000 crore more.

Looking ahead, prominent names such as Tata Capital (₹17,000 crore) and OYO (₹8,430 crore) are expected to join the queue in FY26. Other players include FMCG brands and unicorn NBFCs.

Why Now?

Timing is everything. Many companies are waiting for clearer global signals, particularly after the FOMC meetings, and are closely monitoring geopolitical trends.

There’s also regulatory pressure. The RBI has set a deadline: upper-layer NBFCs, such as HDB and Tata Capital, must go public by September 2025. So expect more filings soon.

What Should You Keep an Eye On?

If you’re tracking the market or thinking of investing, here’s what to watch:

• IPO listing gains – Will these stocks pop or flop after listing?
• Use of Funds – Some companies plan to reduce debt, such as Hero FinCorp.
• Global economy – U.S. policy shifts and world events can quickly change sentiment.

Final Word

After a slow start to the year, India’s IPO engine is roaring back to life. These eight IPOs could mark just the beginning of a larger rally. If the momentum holds and global and local conditions remain favourable, India could be headed for a record-setting IPO season in the second half of the year.

For investors and companies alike, the stage is set. Now, all eyes are on performance, on day one and beyond.