Indian IPO Market Sees Strong Revival: 7 Companies Launch Public Offerings in May 2025

After a three-month lull, India’s primary equity market is regaining momentum. In May 2025 alone, seven companies are launching IPOs, with over a dozen more lined up for June, signaling renewed investor confidence amid stabilizing markets and easing global tensions.

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IPO Market Rebounds After Hiatus

India’s equity capital market is witnessing a sharp recovery following a temporary slowdown. After months of subdued activity, seven companies have rolled out their Initial Public Offerings (IPOs) in May, and 10–12 more are set to launch IPOs in June, according to investment bankers.

Key contributors to this revival include:

  • Stabilization in the secondary market

  • Easing of geopolitical tensions

  • Successful execution of recent large block deals

Major IPOs Launched in May

Notable IPOs this month include:

Schloss Bangalore (The Leela Hotels Operator)

  • Issue Size: ₹3,500 crore

  • Opening: May 26 | Closing: May 28

Aegis Vopak Terminals

  • Issue Size: ₹2,800 crore

  • Sector: Storage for LPG and liquid commodities

  • Opening: May 26 | Closing: May 28

Other companies that have already gone public this month include:

  • Belrise Industries

  • Borana Weaves

Upcoming:

  • Prostarm Info Systems: IPO launches on May 27

  • ArisInfra Solutions and Scoda Tubes are expected to announce dates soon

What’s Driving the Revival?

Market Confidence Restored

Bankers credit the rebound to improved market conditions:

“The stabilizing geopolitical environment and improving macro indicators have revived institutional investor confidence,” said Ranvir Davda, Co-Head of Investment Banking, HSBC India.

Increased Domestic & Foreign Participation

The surge is being powered by both:

  • Strong domestic liquidity, and

  • Renewed interest from international investors

“This momentum mirrors levels last seen in September–October 2024,” added Davda.

More IPOs Coming in June 2025

Several high-profile companies are expected to go public in June, including:

  • Continuum Green Energy

  • IndiQube

  • CIEL HR

  • Paramesu Biotech

  • Brigade Hotel Ventures

  • Smartworks

  • NSDL

  • Regreen Excel

  • Solarworld

  • All Time Plastics

“The revival is not driven by speculative euphoria but by investor interest in businesses with solid fundamentals and reasonable valuations,” said Neha Agarwal, MD & Head of Equity Capital Markets, JM Financial.

Billion-Dollar IPOs in the Pipeline

Several blue-chip and high-growth companies are preparing for mega IPOs in FY25:

  • Tata Capital

  • LG Electronics India

  • HDB Financial Services

  • ICICI Prudential AMC

  • Lenskart

  • Manipal Hospitals

  • PhonePe

These public issues are expected to raise over $1 billion each.

SEBI Approvals Surge

  • 60 companies have already received approval from SEBI

  • 75 more have filed draft red herring prospectuses (DRHPs)

This indicates a robust pipeline for IPOs in the coming quarters.

Recent Block Deals Set the Stage

The IPO revival was preceded by large secondary market block deals in May:

  • Singtel sold ₹13,180 crore worth of Bharti Airtel shares on May 16

  • Carlyle Group exited PNB Housing, raising ₹2,700 crore

  • General Atlantic offloaded 10% stake in KFin Technologies for ₹1,790 crore

  • Ant Financial sold a 4% stake in One97 Communications (Paytm), raising ₹2,100 crore

These transactions reinstated liquidity and signaled investor readiness for fresh equity offerings

Conclusion: Bullish Sentiment Returns to India’s Primary Market

The renewed IPO activity reflects a turning point in India’s capital markets. Backed by macroeconomic stability, improving investor sentiment, and a wave of high-quality offerings, the primary market is poised for sustained growth through 2025 and beyond.