India is poised to witness over half a dozen IPOs in June 2025, with an estimated fundraising of around Rs 8,000 crore. Companies like Sri Lotus Developers & Realty, Travel Food Services, and NSDL are among the major firms planning to enter the market. This comes even as recent IPOs have seen mixed investor sentiment, particularly in retail and HNI segments.
India’s equity markets are expected to see renewed activity in June 2025, with over six initial public offerings (IPOs) projected to raise around ₹8,000 crore, according to market sources. These listings come amid a mixed reception to May’s IPOs, especially in the retail and high-net-worth individual (HNI) segments.
Among the major companies preparing to go public are Sri Lotus Developers & Realty – a real estate development firm eyeing ₹800 crore; Travel Food Services – a leading travel retail and F&B provider planning to raise ₹2,000 crore; Laxmi India Finance – a financial services player targeting ₹200 crore; Indogulf Cropsciences – an agri-inputs firm looking to garner ₹300 crore; and National Securities Depository Limited (NSDL) – a central securities depository expected to raise ₹3,000 crore.
This anticipated wave of IPOs follows a somewhat lukewarm performance of current listings. For instance, Schloss Bangalore (owner of Leela Hotels) saw only 60% subscription in the retail segment and 43% in the HNI category by 3 PM on May 29, the final day of bidding. Likewise, Aegis Vopak Terminals witnessed 65% and 39% subscription in retail and HNI segments, respectively.
Despite this tepid response, earlier IPOs in May such as Borana Weaves and Belrise Industries saw significant investor enthusiasm, with subscription levels reaching 148 times and 43 times, respectively.
Experts attribute the recent slowdown in investor interest to the bunching of IPOs, leading to a dilution of demand. The market had already seen six mainboard IPOs launch in May, with a cumulative value near ₹9,000 crore.
As the June IPO window approaches, analysts expect a combination of large and mid-sized public issues to attract institutional interest, although retail participation may remain cautious due to current market saturation.
The Securities and Exchange Board of India (SEBI) continues to monitor the primary market closely, especially as companies with strong fundamentals look to leverage market liquidity amid fluctuating retail sentiment.
The success of the upcoming IPOs will likely hinge on pricing, market conditions, and investor confidence in the face of recent volatility and offer pile-ups.
