IPO Rush: Hero Fincorp, LG Electronics, 64 others aim for D-street debut

A total of 66 companies have submitted applications for IPOs, with highly anticipated offerings from Hero Fincorp and LG Electronics awaiting approval from the capital market regulator, Sebi

Upcoming IPOs in 2025: The Indian primary markets, which have already witnessed the D-Street debut of 8 mainline offerings in 2025, raising nearly Rs 6,275 crore, are expected to maintain strong activity throughout the year. A total of 66 companies have submitted applications for Initial Public Offerings (IPOs), with several highly anticipated offerings awaiting approval from the capital market regulator, the Securities and Exchange Board of India (Sebi).  Among the most anticipated IPOs are Hero Fincorp, which is estimated to raise around Rs 3,668.13 crore, and LG Electronics, which aims to raise Rs 15,237 crore through public issues.  

Here is the list of companies, according to data available on Sebi’s website, that have filed their draft papers for IPOs:

 

 

Awaiting in-principle approval from exchanges

There are 4 companies who are awaiting in-principle approval from the stock exchanges to proceed with their IPOs. These include Belrise Industries, BlueStone Jewellery and Lifestyle, Ganesh Consumer Products, and Neilsoft.

 

Companies with IPO applications under review

There are currently 42 companies, including Hero Fincorp, LG Electronics India, and Kent RO Systems, that have submitted their Draft Offer Documents to Sebi. These applications are still under review. 

 

The other names to feature in the list include Jaro Institute of Technology Management and Research, Sunshield Chemicals, Paramesu Biotech, Crizac, Borana Weaves, Lloyds Engineering Works, SFC Environmental Technologies, Fusion Finance, Travel Food Services, GNG Electronics, GK Energy, Aye Finance, Laxmi India Finance, GSP Crop Science, Greaves Electric Mobility, Jaajoo Rashmi Refractories, SPEC, Ajay Poly, and Anthem Biosciences.

 

Besides them, Regaal Resources, Sri Lotus Developers and Realty, Mangal Electrical Industries, Vidya Wires, Shanti Gold International, Veritas Finance, Lumino Industries, Epack Prefab Technologies, Karamtara Engineering, Dorf-Ketal Chemicals India, Shreeji Shipping Global, Gaudium IVF and Women Health, WeWork India Management, Veeda Clinical Research, Shringar House of Mangalsutra, Atlanta Electricals, Amanta Healthcare, Indira IVF Hospital, Rite Water Solutions India, and Seedworks International.

 

Draft offer documents pending clarifications from Sebi

 

In addition to those awaiting review, 19 companies have submitted their draft offer documents to Sebi and are currently awaiting clarifications. The response from the Lead Managers (LM) is still pending for these companies. The list includes:

 

Vikram Solar, HDB Financial Services, Aegis Vopak Terminals, Star Agriwarehousing and Collateral Management, Continuum Green Energy, Innovision, Indiqube Spaces, Seshaasai Technologies, Rajputana Stainless, Credila Financial Services, Neelkanth Realtors, Earthood Services, Gem Aromatics, Caliber Mining and Logistics, Sunshine Pictures, A-One Steels India, Jesons Industries, Vinir Engineering, and Euro Pratik Sales.

 

Additionally, Sebi has sought further clarification from EAA India Alternatives, which submitted its draft papers to the market regulator on December 12, 2024. Sebi has returned the offer document for Saatvik Green Energy, while Fujiyama Power Systems withdrew its IPO application on February 12, 2025.