Imagine a stock market buzzing with fresh opportunities as India’s brightest startups step into the spotlight. In 2025, the Indian startup ecosystem, the world’s third-largest with over 127,000 ventures and 118 unicorns, is set to ignite with a record-breaking wave of Initial Public Offerings (IPOs). From electric vehicle pioneer Ather Energy to quick-commerce star Zepto, these IPOs promise wealth creation, job growth, and a chance to invest in India’s future. Why is 2025 the year of Indian startup IPOs? With soaring market confidence, diverse sectors, and regulatory tailwinds, it’s a golden moment for investors. Dive into this StartupByDoc guide to explore the most anticipated IPOs of 2025, presented in a clear table for your convenience.
India’s IPO market is red-hot, with 2024 seeing 13 startups like Swiggy and Ola Electric raise ₹29,000 crore ($3.4B). In 2025, at least 25 new-age companies are expected to go public, nearly doubling last year’s count, potentially surpassing $20B in total offerings. India’s 36% share of global IPO listings in Q3 2024, outpacing the U.S., signals robust momentum. Domestic investors are fueling this frenzy, pouring ₹1 lakh crore into markets in October 2024, while retail enthusiasm grows. From fintech to edtech, the diversity of sectors ensures broad appeal, and SEBI’s streamlined regulations, like eased compliance for startups, are paving the way. Despite challenges like market volatility and infrastructure woes voiced on X, 2025 is poised to be a landmark year.
Below is a table of the most anticipated Indian startup IPOs in 2025, compiled from recent data. Note that dates, sizes, and valuations are tentative, as many companies are still finalizing plans. Check SEBI filings or platforms like Moneycontrol, Groww, or NSE for updates.
Most Anticipated Indian Startup IPOs of 2025
| Company | Sector | IPO Size (Est.) | Valuation (Est.) | Opening Date | Closing Date | Key Details |
|---|---|---|---|---|---|---|
| Ather Energy | Electric Vehicles | $350-400M | $1.8-2.7B | TBA | TBA | ₹3,100 Cr fresh issue + OFS; R&D & manufacturing focus |
| Zepto | Quick Commerce | $800M-$1B | $3-5B | TBA (Mar–Apr) | TBA | FY24 rev ₹4,454 Cr; pre-IPO stake sale underway |
| BoAt | Consumer Electronics | ₹2,000 Cr | $1.5B+ | TBA (FY26) | TBA | Confidential DRHP filed; backed by big firms |
| Flipkart | E-commerce | TBD | $36B | TBA (Late 2025) | TBA | India-domicile shift; could be India’s biggest IPO |
| Groww | Fintech | $1B+ | TBD | TBA (Apr–May) | TBA | Focus on trading + wealth mgmt; DRHP in works |
| PhonePe | Fintech | TBD | Up to $15B | TBA (2026) | TBA | Public entity; led by top investment banks |
| PhysicsWallah | Edtech | TBD | ~$2B | TBA | TBA | First edtech IPO; strong offline rev streams |
| Reliance Jio | Telecom | TBD | $100B+ | TBA | TBA | Could be India’s all-time biggest IPO |
| BlueStone | D2C Jewellery | TBD | ~$1B | TBA | TBA | Funds for retail expansion; DRHP filed |
| Captain Fresh | B2B Seafood | $350–400M | $1.3–1.5B | TBA (H2 2025) | TBA | Axis Cap + BoA onboard; pre-IPO round active |
| Urban Company | Home Services | ₹3,000 Cr | TBD | TBA (Mar) | TBA | Public entity; DRHP by March 2025 |
| Tata Capital | Financial Services | $2B | $11B | TBA | TBA | Awaiting NCLT approval; SEBI greenlit |
Notes:
TBA: To Be Announced; exact dates await SEBI approval or company announcements.
Risks: Market volatility, regulatory hurdles, and profitability pressures may impact IPO outcomes. Research prospectuses thoroughly.
StartupByDoc Takeaway
2025 isn’t just IPO season — it’s India’s startup awakening.
Founders – Proof that Indian startups can scale and exit. Dream bigger, build smarter.
Young investors – ₹1,000 today can become tomorrow’s fortune. Start now.
At StartupByDoc, we aim to keep you informed with trusted insights, data-backed reporting, and simplified business breakdowns. As this historic wave unfolds, now is the time to monitor key IPOs, open a demat account with platforms like Zerodha or Groww, and seek guidance from financial advisors to make the most of these opportunities.
The revolution has begun — make sure you’re part of it.
Sources: Data from Inc42, Moneycontrol, 5paisa, and Goodreturns.