Upcoming IPOs - December is shaping up to be one of the busiest months for India’s primary market. Several major companies from e-commerce, renewable energy, finance, consumer electronics and artificial intelligence are preparing to go public. Market sentiment has remained strong through the year, and December is expected to close it with some of the largest fund-raises of 2025. Among the long list of upcoming issues, five stand out because of their size, market reach and the attention they are drawing from institutional as well as retail investors.
Meesho is preparing for one of the biggest public debuts of the year. The IPO is scheduled to open on December 3, 2025, and the company aims to raise around ₹5,421 crore through a combination of a fresh issue and an offer for sale. The price band has been announced at ₹105–₹111 per share, placing the company’s valuation close to USD 5.6 billion.
Meesho plans to use the funds raised from the fresh issue to strengthen its technology infrastructure, expand cloud capabilities and support general corporate needs. This IPO marks a significant moment for India’s consumer-internet space because the company’s rapid growth in online retail has made it a major competitor in the low-cost e-commerce segment. Once the offer closes, the listing is expected shortly after, making it one of the most closely watched events of the month.
Juniper Green Energy is set to bring one of the largest renewable-energy IPOs this December. The company has planned an issue of roughly ₹3,000 crore, entirely consisting of a fresh equity raise. A significant portion of the money is expected to go toward reducing debt and funding existing and upcoming renewable-energy projects. This is typical for companies in the power-generation sector, where long-term capital requirements are substantial.
The IPO is expected around the middle of the month, with final price bands and dates set to be announced with the release of the final prospectus. Investors with an interest in India’s clean-energy transition are tracking this issue closely because the company has an active pipeline of solar and wind projects. The success of this IPO will signal how strongly markets are valuing renewable-energy developers during a period of rising interest in green infrastructure.
boAt, known for its audio accessories and wearable devices, is another high-interest company expected to tap the markets in December. Market reports and draft filings suggest an IPO size in the range of ₹1,000–1,500 crore, which will include both a fresh issue and an offer for sale. The fresh capital is expected to be used to expand distribution channels, support product development and strengthen the company’s market position as competition intensifies in affordable electronics.
As a mass-market brand with high visibility among young consumers, boAt’s IPO will act as a test of investor appetite for consumer discretionary companies. With years of rapid growth, strong brand recall and a broad retail following, the company’s listing is expected to attract considerable attention even before the final dates and price band are officially announced. Market watchers are particularly interested in boAt’s margin outlook, supply-chain stability and expansion into newer categories.
Hero FinCorp, part of the Hero group’s financial services network, is preparing a large public issue this month. The company is aiming for an approximate raise of ₹3,668 crore, which includes a fresh issue of about ₹2,100 crore and an offer for sale by existing shareholders. The fresh equity is expected to improve Tier-I capital levels and support lending activities across retail loans, vehicle financing and MSME credit.
The company’s performance will likely be viewed in the larger context of India’s growing non-banking finance sector. Investors will examine the company’s loan book, asset-quality trends and its dependence on the Hero group’s dealer network for sourcing customers. With credit demand remaining strong toward the end of the year, Hero FinCorp’s IPO is one of the most important financial-sector listings to watch this December.
Fractal Analytics has received regulatory approval for an IPO of around ₹4,900 crore, making it one of India’s largest technology listings this year and one of the first major artificial-intelligence-focused companies to go public. Recent financial reports show that the company’s revenue has been improving and profitability has bounced back, supporting discussions around valuation expectations.
The AI sector continues to attract strong global interest, and Fractal’s public debut will provide a fresh way for Indian investors to participate in the growing enterprise-AI market. The company’s long-standing relationships with global clients and its product-led approach are expected to be key points of interest. Investors, however, will also be examining areas such as margin durability, customer concentration and competition from global AI and analytics firms.
December is expected to be one of the heaviest fund-raising months of 2025. Analysts estimate that total primary-market activity could run into tens of thousands of crores, supported by strong institutional inflows and positive market sentiment. This creates a favourable backdrop for large issuers but also increases competition among companies launching their issues in the same window.
Across these IPOs, the use of proceeds shows clear patterns. Meesho plans to invest heavily in technology, Juniper Green is prioritizing debt reduction and project development, Hero FinCorp aims to strengthen capital buffers, and boAt is focusing on product and distribution expansion. Fractal Analytics is expected to use funds to support scaling in AI and data products. These strategic goals demonstrate how each company is positioning itself for long-term growth.
December’s IPO calendar captures the diversity of India’s modern economy — e-commerce, green energy, finance, consumer electronics and advanced AI. These five companies represent different growth stories but share a common theme: each is preparing to scale operations using public capital. Their performance will depend on fundamentals, pricing and market sentiment on listing day. With strong investor attention and significant fundraising targets, these issues are expected to shape year-end market activity and set the tone for the early months of 2026.