India’s primary market is gearing up for a blockbuster November, with companies from multiple sectors — technology, renewable energy, healthcare, and consumer goods — preparing to launch major initial public offerings (IPOs). Collectively, these public issues are expected to raise around ₹76,000 crore, making it one of the busiest months ever for IPO activity in the country.

Big-ticket launches to start the season
The IPO rush will kick off with Lenskart’s ₹7,200 crore issue, opening between October 31 and November 4. Soon after, Groww’s ₹6,600 crore IPO will hit the markets in the first week of November. Other notable listings expected this month include:

• ICICI Prudential AMC – ₹10,000 crore

• Pine Labs – ₹6,100 crore

• Cleanmax Enviro Energy – ₹5,200 crore

• Juniper Green Energy – ₹3,000 crore

These large offerings are likely to set the tone for what analysts are calling the “busiest IPO quarter of 2025.”

Festive season and market sentiment fueling activity
According to V. Jaishankar, MD of Kotak Mahindra Capital, the last quarter of the year typically witnesses heightened IPO activity due to positive festive sentiment and strong market liquidity. He estimates that IPOs worth $20–21 billion (₹1.7 lakh crore) could be completed in 2025, with over half of them expected in this quarter alone.

Mid-sized players join the action
Alongside the major names, several mid-sized companies are also preparing to enter the market. These include Park Medi World, NephroPlus, Vida Clinical Research, Innovative India, Casagrande Premier Builder, Fujiyama Power Systems, Pranav Constructions, Innovision Limited, and KSH International.
Other expected IPOs include Credila Financial Services, Physixwala, Wakefit, Excelsoft Technologies, Prestige Hospitality Ventures, Vidya Wires, and Metalman Industries.

Market rally boosts IPO confidence
The buoyant stock market has further strengthened confidence among companies. The Sensex and Nifty have both gained around 5% in October and are within 1.5% of their all-time highs, prompting firms to capitalize on the positive sentiment. Experts note that companies are rushing to launch IPOs before a potential slowdown in foreign institutional investor (FII) activity during December and January.

Regulatory timing adds urgency
A key technical factor behind this surge is the US SEC’s 135-day rule, which mandates that any company seeking investment from U.S. investors must have financial statements no older than 135 days. As June 30, 2025-audited reports approach this limit, companies are hurrying to file before the window closes.

Market analyst Geetanjali Kedia of SP Tulsian Investment Advisor said, “This 135-day rule has created a deadline effect — companies with June quarter audits see this as their last chance to go public with global investor participation.”