SUMMARY
The year 2025 is shaping up to be a landmark year for IPOs, with several major companies preparing to go public. The new names include LG Electronics and Licious. From electronics and consumer startups to telecom and financial services, the coming months could see record-breaking IPOs hitting the market.
1 / 8LG Electronics India is among the most anticipated IPO. The South Korean electronics giant is planning to list its Indian unit, which could be valued at up to $15 billion. LG has already started investor roadshows and may raise between $1 billion and $1.5 billion through the offering, according to Bloomberg report.
2 / 8HDB Financial Services, HDFC Bank’s non-banking financial company (NBFC), is set for a major listing. Expected to raise around ₹12,500 crore, it will be one of India’s largest NBFC IPOs. The listing is part of regulatory compliance since HDB falls under the Reserve Bank of India’s upper-tier NBFC category.
3 / 8Licious, India’s leading online meat and seafood retailer, is also preparing for a public listing, though it is targeting 2026. Backed by Temasek Holdings, the Bengaluru-based company is expanding its physical stores and quick delivery services to achieve profitability before its IPO. Licious aims for a valuation of over $2 billion at the time of listing, as per Bloomberg report.
4 / 8Quest Global Services, backed by Carlyle Group, is considering an IPO that could raise about $1 billion. The Singapore-based engineering services firm is in talks with investment banks for a Mumbai listing, expected as early as 2025.
5 / 8Zetwerk, a Bengaluru-based supply chain startup, is another company exploring an IPO. Backed by Peak XV Partners and Lightspeed India Partners, Zetwerk may raise up to $1 billion through its public debut. The company has already started discussions with investment banks.
6 / 8Mahle GmbH’s India business is looking to raise up to $400 million by listing its operations in India. The German auto parts manufacturer is in the early stages of planning its IPO and has begun discussions with potential advisers.
7 / 8Hexaware Technologies and NSDL are two major tech IPOs expected in 2025. Both companies are preparing to enter the public markets, tapping into growing investor interest in India’s digital sector.
8 / 8Other potential listings include Ather Energy, Tata Passenger Electric Mobility (TPEML), and JSW Cement. While these companies haven’t officially announced IPO dates, reports suggest they could go public this year.
