India's IPO season returns with 8 public issues worth ₹26,000cr
18 Jun 2025

A total of eight companies are preparing to launch their initial public offerings (IPOs) by the end of June and in July. The total issue size is expected to exceed ₹26,000 crore.

The companies include HDB Financial Services, Sambhv Steel Tubes, Ellenbarrie Industrial Gases, Kalpataru, Globe Civil Projects, Hero Fincorp, and JSW Cements.

HDB Financial Services
Upcoming launches

HDB Financial Services is expected to file its red herring prospectus (RHP) soon for an IPO of around ₹12,500 crore.

The issue will comprise a fresh issue worth around ₹2,500 crore and an offer-for-sale of up to ₹10,000 crore.

The anchor portion is expected on June 24 and the public subscription could open between June 25-27.

Sambhv Steel Tubes, Ellenbarrie Industrial Gases, and Kalpataru
Other offerings

Sambhv Steel Tubes, which got SEBI approval in March, is also gearing up for its ₹540 crore IPO.

The retail quota for both HDB Financial Services and Sambhv Steel Tubes is expected to be around 35%.

Ellenbarrie Industrial Gases and Kalpataru are planning to raise ₹400 crore and ₹1,590 crore through their IPOs, respectively.

JSW Cement and Hero Fincorp
Market activities

JSW Cement has started its roadshow for a ₹4,000 crore IPO, likely to hit the market in July.

Hero Fincorp has revised its fresh issue size from ₹2,100 crore to ₹1,840 crore after securing ₹260 crore in a pre-IPO funding round.

The total IPO size now stands at ₹3,408.13 crore including an offer-for-sale component of ₹1,568.13 crore.

Globe Civil Projects and NSDL
Subscription details

Globe Civil Projects has confirmed its timeline, with the IPO opening for subscription on June 24 and closing on June 26. The issue is priced at ₹67-71 per share, aiming to raise around ₹200 crore.

NSDL is also likely to hit the market before July-end after SEBI extended its IPO deadline to July 2025.

Bloomberg had reported that NSDL was looking to raise $400 million (roughly ₹3,400 crore).