Upcoming IPO Surge: Jio, Zepto, and 5 More Companies Set to Go Public in the Next 2 Years

India's IPO landscape is poised for significant expansion over the next two fiscal years, fueled by robust economic growth and heightened investor enthusiasm. Analysts anticipate nearly 1,000 IPOs during this period.

According to data from The Association of Investment Bankers of India (AIBI), reported by Niveshaay Investment Advisors, a record number of public listings are expected across key industries, including Telecom, Technology, Consumer Electronics, Cement, and Financial Services.

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Key Upcoming IPOs

Reliance Jio IPO – Among the most awaited offerings, Reliance Jio is set to launch an IPO valued at approximately ₹8 lakh crore, reinforcing its dominance in the telecom and digital services sector.

LG Electronics India IPO – The company aims to raise ₹15,000 crore through an offer-for-sale.

Ather Energy IPO – Ather Energy, a leading player in electric two-wheelers, is planning a ₹4,500 crore IPO.

Zepto IPO – The fast-growing quick commerce startup is targeting an IPO exceeding $1 billion, competing with Swiggy Instamart and Blinkit.

JSW Cement IPO – The cement giant plans to raise up to ₹4,000 crore through its public offering.

NSDL IPO – The National Securities Depository Limited (NSDL) is looking to generate ₹3,000 crore via an offer-for-sale.

boAt IPO – The popular audio and wearable brand is preparing for a ₹2,000 crore public listing.

Market Liquidity and IPO Impact

The report highlights that large IPOs influence market liquidity based on their size, investor participation, and broader market conditions. In a well-liquid market, fresh capital inflows can absorb liquidity absorption, limiting disruptions. Conversely, in tighter conditions, institutional investors like Mutual Funds and Foreign Institutional Investors (FIIs) may adjust portfolios to participate, potentially impacting secondary market activity.

Post-listing, liquidity typically stabilizes as investors reinvest gains or adjust holdings based on market trends and earnings reports. While oversubscribed IPOs often debut at premium valuations, historical data suggests that over 70% of Indian IPOs are initially underpriced, delivering short-term gains. However, these gains may not always sustain over the long run when compared to broader market indices.

“While many investors get caught up in the frenzy, oversubscribed IPOs often list at inflated prices. In last decade, studies have highlighted that over 70% of Indian IPOs tend to be underpriced initially, delivering positive short-term returns. However, these returns often do not sustain in the long run, especially when benchmarked against broader market indices. Recognizing this performance disparity, we see a unique opportunity to create value. Our plan is to identify promising IPOs and develop a targeted portfolio to capitalize on their growth potential,” said Arvind Kothari, small-case manager & founder of Niveshaay.