Dalal Street’s IPO Pipeline Heats Up: 14 New Issues to Hit Markets, Rs 7,000 Crore at Stake
The Indian stock market is gearing up for an exciting week as Dalal Street prepares to welcome 14 new Initial Public Offerings (IPOs) across mainboard and SME segments, collectively aiming to raise over Rs 7,000 crore. This surge in IPO activity reflects a robust market sentiment and growing investor enthusiasm, signaling a vibrant phase for India’s primary market in 2025. Let’s dive into the details of this bustling IPO pipeline and what it means for investors.
A Diverse and Dynamic Lineup
The upcoming IPOs span a variety of sectors, showcasing the diversity and strength of India’s economic landscape. Among the mainboard IPOs, the spotlight is on National Securities Depository Ltd (NSDL), India’s largest depository, which is set to launch its Rs 4,012 crore offer for sale (OFS) with a price band of Rs 760-800 per share. Subscription for NSDL’s IPO will open on Wednesday, July 30, 2025, and is expected to attract significant institutional demand due to its pivotal role in India’s capital markets. Analysts predict strong interest, given NSDL’s 24.6% rise in net profit to Rs 340 crore and 12.4% growth in overall income for FY25.
Another notable mainboard IPO is Sri Lotus Developers, opening on the same day with an issue size of Rs 792 crore and a price band of Rs 140-150 per share. As a real estate player, it adds to the sectoral diversity of this week’s offerings.
The SME segment is equally active, with 10 IPOs lined up, including Kaytex Fabrics, Renol Polychem, Cash Ur Drive, Mehul Colours, Takyon Networks, M&B Engineering, BD Industries, Umiya Mobile, Repono, and Flysbs Aviation. These IPOs, with issue sizes ranging from Rs 20 crore to Rs 130 crore, cater to smaller enterprises looking to tap into public markets for growth capital.
Listings to Watch
In addition to new IPOs, several companies are set to make their market debut this week. Indiqube Spaces and GNG Electronics are scheduled to list on Wednesday, July 30, 2025, on the BSE and NSE, while Brigade Hotel Ventures is tentatively set for Thursday, July 31, 2025. These listings will add to the market’s dynamism, offering investors fresh opportunities to diversify their portfolios.
Why the IPO Surge?
The flurry of IPO activity comes on the heels of a strong 2024, where 91 companies raised Rs 1.60 lakh crore through mainboard IPOs, a three-fold increase from Rs 49,436 crore in 2023. The SME segment also saw remarkable growth, with 236 IPOs and an average oversubscription of 165 times. This momentum has carried into 2025, driven by favorable equity market conditions, easing macroeconomic headwinds, and robust investor liquidity. The Reserve Bank of India’s rate cuts and the government’s continued capital expenditure push have created a “golden runway” for companies to raise funds.
Moreover, the current IPO pipeline is not just about numbers but also about quality. Many of these companies are backed by private equity and venture capital, seeking public markets as an exit route. The diversity of sectors—from financial services like NSDL to real estate and niche SME players—reflects a maturing capital market where public listings are becoming a mainstream strategy for growth.
Investor Considerations
While the IPO buzz is exciting, experts urge caution. Trivesh D, Chief Operating Officer at Tradejini, emphasizes the importance of due diligence: “Investors should not be carried away by hype. It is important to study the company’s business model, how it earns money, what price it is asking, and what future growth it has.” In 2025, only 6 out of 10 mainboard IPOs and roughly half of 61 SME IPOs delivered listing gains, highlighting the risks involved.
The NSDL IPO, for instance, is a strong contender due to its established position and financial performance, but investors should carefully evaluate the valuation and growth prospects of smaller SME IPOs, which may carry higher risks due to their size and market exposure.
The Bigger Picture
The 14 IPOs this week are part of a larger trend, with a staggering Rs 2.58 lakh crore IPO pipeline for 2025, including big-ticket names like Reliance Jio Infocomm (Rs 40,000 crore), HDB Financial Services (Rs 12,500 crore), and LG Electronics India (Rs 15,000 crore). This robust pipeline, coupled with strong retail and institutional participation, underscores India’s growing appeal as a destination for public listings.
As Dalal Street braces for this IPO deluge, the market’s ability to absorb these offerings will depend on sustained investor confidence and stable economic conditions. With Rs 7,000 crore at stake this week alone, the primary market is poised for a thrilling ride. Investors should stay informed, analyze fundamentals, and approach this wave of opportunities with both excitement and caution.
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