The second half of 2025 has started on a good note as the Indian primary market is showing no signs of slowing down, with INR 16,125.89 crore raised last July. And the upcoming month of August is expected to raise around INR 28,000 crore. A strong series of diverse public issues is expected to pique investor interest this month. From finance to cement to real estate to defence, the upcoming IPOs in August 2025 are spread across multiple high-growth sectors and will attract institutional and retail investors.
First-Seven-Month IPO Trends: 2025 vs. 2024
Comparing the Indian IPO market figures for the first seven months of 2024 and 2025 reveals some notable differences. In 2024, a total of 39 companies launched IPOs, whereas in 2025, that number fell to 32. Despite the drop in issuers, 2025 saw total investor subscriptions of about INR 54,393 crore—substantially higher than the INR 34,487 crore raised in 2024. This indicates that fewer companies in 2025 managed to raise much larger sums.
The number of IPOs that delivered listing gains also declined, from 30 in 2024 to 23 in 2025, while the count of IPOs that listed at a loss remained constant at nine each year. Average listing returns fell from roughly 28.63 percent in 2024 to 12.36 percent in 2025. In other words, investor enthusiasm and market momentum were stronger in 2024, whereas 2025’s market appeared somewhat more cautious and mature. Overall, 2025 featured fewer, larger IPOs that amassed more capital but delivered smaller listing gains.
The largest IPO so far in 2025 was of HDB Financial Services, which raised INR 12,500 crore. The smallest IPO was of Globe Civil Projects, which mobilized INR 119 crore from the market. With this background, the August 2025 IPO calendar is expected to continue the momentum. Here are the upcoming IPOs in August 2025 which are most awaited in recent times.
Mainboard Upcoming IPOs in August 2025
Tata Capital – One of the Biggest IPO in August 2025
Tata Capital, a part of the Tata Group, is coming to the markets with what could be the biggest IPO of the year. Tata Capital’s much-awaited IPO is expected to raise around INR 17,200 crore this month. The company offers consumer loans, wealth management and infrastructure finance among other financial services.
While the IPO remains under wraps due to a confidential filing made on 4 April 2025, market sources suggest that this will be a pure fresh issue. This listing is expected to unlock significant value and will mark a key milestone for the Tata Group’s financial ecosystem. With India’s growing appetite for credit and fintech-driven services, Tata Capital is one of the most closely followed IPOs in August 2025.
Hero FinCorp IPO – A Key Upcoming IPOs in August 2025
Hero FinCorp, the financial arm of Hero MotoCorp, is set to debut with an IPO of INR 3,668 crore, comprising INR 2,100 crore as fresh issue and INR 1,568.13 crore as Offer For Sale. The issue will be listed on NSE and BSE. A leading non-banking financial company (NBFC), it caters to over 11.8 million customers across retail, MSME, and commercial lending segments.
The company’s AUM stood at INR 51,820.81 crore as of March 2024, with more than 85% attributed to retail and MSME verticals. While net income dipped to INR 109.95 crore in FY25, the IPO aims to bolster Tier-I capital for future lending. Backed by a tech-driven underwriting system and Hero’s dealership network, the offering is expected to attract long-term investors looking for exposure in India’s retail credit expansion, making it one of the more attractive forthcoming IPO in August 2025.
JSW Cement IPO
JSW Cement is going to launch its IPO between August 11 to 13, 2025 (tentative) with a total issue size of INR 4,000 crore—INR 2,000 crore as fresh issue and INR 2,000 crore as Offer for Sale. The price band is tentative between INR 100 to INR 200 per share. The IPO will be listed on both NSE and BSE with a retail allocation of 35%. The proceeds of the IPO will be used to set up a new integrated cement unit in Rajasthan, repayment of loans and for general corporate purposes.
JSW Cement is one of the fastest-growing cement companies in India, offering PSC, PCC, OPC, clinker, GGBS, and ready-mix concrete. As of 31st March 2024, it had an installed grinding capacity of 20.60 MMTPA and clinker capacity of 6.44 MMTPA, and plans to almost double both. In FY24, the company had revenue of INR 6,028.10 crore, an EBITDA margin of 16.94% and net profit of INR 62.01 crore. With increasing demand in the housing and road construction sector, JSW Cement is a strong contender among infrastructure-focused IPO in August 2025.
Highway Infrastructure IPO
Among the forthcoming IPO in August 2025, Highway Infrastructure is set to attract investor attention with its issue opening between 5th and 7th August. The IPO comprises a fresh issue of INR 97.52 crore and an Offer for Sale of 46.4 lakh shares, pegging the total issue size at around INR 127.68 – 130 crore, with a price band of INR 65–70 per share. The minimum lot size is 211 shares, amounting to an investment of INR 14,770. Shares will be listed on NSE and BSE, and the final allotment is expected by 8th August 2025.
Highway Infrastructure is a diversified company active in toll collection, EPC projects, and real estate. As of 31 May 2025, its order book stood at INR 666.31 crore, with 24 tollway projects completed and 4 ongoing. In FY2025, it reported revenue of INR 495.72 crore and net profit of INR 22.40 crore, with a net margin of 4.52%, reflecting strong operational performance ahead of its IPO. As one of the few real estate-focused August 2025 Indian IPOs.
Vikram Solar IPO – Forthcoming IPO in August 2025
Vikram Solar, based in Kolkata, is one of the leading solar energy solution providers in India with specialization in high-efficiency photovoltaic (PV) modules. As India moves towards an energy transition to renewable sources, Vikram Solar will benefit from the country’s push towards green and sustainable power. The company’s growth plans are driven by increasing demand for solar installations from commercial and residential customers.
- IPO Size: INR 2,000 crore, out of which INR 1,500 crore is fresh issue and 1.74 crore equity shares are Offer for Sale (OFS) by existing promoters.
Vikran Engineering – Backed by Ashish Kacholia
Vikran Engineering, an Engineering, Procurement and Construction (EPC) company, is raising INR 1,000 crore via an IPO, comprising a fresh issue of INR 900 crore and an offer for sale of INR 100 crore by the promoter. The company has shown impressive growth, and revenue has grown from INR 479.57 crore in FY22 to INR 791.44 crore in FY24, a CAGR of 33% over 3 years. Vikran Engineering has an ROE of 35% and ROCE of 31%, very healthy financials.
The company operates in 22 states of India and serves critical sectors like power, water, and rail infrastructure. Backed by investors such as the India Inflection Opportunity Fund and Ashish Kacholia, Vikran Engineering’s IPO presents an attractive prospect for those seeking exposure to the infrastructure segment, making it one of the more attractive forthcoming IPO in August 2025.
SME Upcoming IPOs in August 2025
FlySBS Aviation IPO
FlySBS Aviation IPO opens from 1–5 August 2025 at a price band of INR 210–225 per share, aiming to raise INR 95.70–102.53 crore through a 100% fresh issue. Listing is on NSE Emerge.
FlySBS Aviation, a Chennai-based DGCA-approved non-scheduled airline, offers premium private air charter services with international reach. Revenue grew from INR 34.11 crore in FY23 to INR 193.90 crore in FY25. Net profit surged to INR 28.41 crore in FY25, with strong margins and a low debt-equity of 0.14.
Jyoti Global Plast IPO
Jyoti Global Plast IPO will run from 4–6 August 2025 at INR 62–66 per share. The total issue size is INR 33.29–35.44 crore, including both fresh issue and offer for sale. It is listed on NSE Emerge.
Established in 2005, Jyoti Global Plast manufactures HDPE-PP drums, barrels, toys, and FRP drone parts. Operating three plants, it serves 1,000+ clients across critical industries. FY25 revenue stood at INR 93.48 crore with INR 6.08 crore net profit. EBITDA margins improved to 12.47%, with debt/equity at 1.19.
Parth Electricals IPO
Parth Electricals IPO is open from 4–6 August 2025 with a price range of INR 160–170 per share. The IPO is an INR 46.80–49.72 crore fresh issue, with listing planned on NSE Emerge.
Based in Gujarat, Parth Electricals makes MV Panels, RMUs, and compact substations. The firm partners with Schneider Electric and serves major clients like Tata Power and BHEL. FY25 revenue doubled to INR 174.67 crore, and profit rose to INR 10.12 crore. ROCE was 23.38% and net margins showed consistent growth.
Aaradhya Disposal IPO
Aaradhya Disposal IPO will take place from 4–6 August 2025, priced at INR 110–116 per share, targeting INR 42.77–45.10 crore via a full fresh issue. Shares will list on NSE Emerge.
The Indore-based firm produces food-grade paper products like PE-coated cup blanks and greaseproof paper. With a 15,000 MT/year facility, it serves diverse industries. FY25 revenue reached INR 113.69 crore, and net profit increased to INR 10.27 crore. With rising margins (EBITDA at 15.69%) and falling debt levels, the company shows strong financial momentum.
Bhadora Industries IPO: Powering India’s Cable Infrastructure
Bhadora Industries’ IPO on NSE EMERGE opens 4–6 August 2025, offering 54 lakh fresh equity shares at INR 97–103 each (issue size ~INR 52.4–55.6 cr). Under the “Vidhut Cables” brand, Bhadora—backed by over 30 years of experience—supplies PVC, LV/LT aerial-bunched and XLPE cables to government DISCOMs and EPC players. In FY2025, it delivered INR 110.11 cr in revenues and a net profit of INR 10.79 cr, driven by strong margins and operational efficiency.
Essex Marine IPO: Riding the Wave of India’s Seafood Export Success
Essex Marine’s IPO runs from 4–6 August 2025, issuing 42.62 lakh fresh shares at INR 54 each (~ INR 23 crore). Listed on BSE SME, it carries a minimum bid of 4,000 shares and 50 % retail allocation.
Headquartered in Kolkata, Essex Marine is a frozen-seafood processor and exporter with over 16 years’ experience, shipping shrimp and fish to markets such as China and Europe. Backed by key quality certifications and planned capacity expansions, it posted FY2025 revenue of INR 37.22 crore and net profit of INR 4.67 crore, demonstrating strong post-pandemic growth.
BLT Logistics IPO: Accelerating India’s Cargo and Warehousing Evolution
BLT Logistics’ SME IPO on BSE runs from 4–6 August 2025, offering 12.96 lakh shares at INR 71–75 each (up to INR 9.72 crore). The company—specializing in surface transportation and warehousing for sectors like FMCG and textiles—operates containerized‐truck fleets and warehouses in Gurgaon, Thane, and Bengaluru. In FY2025, it reported revenue of INR 49.17 crore and net income of INR 3.84 crore.
Sawaliya Food Products IPO: Fueling India’s Packaged Foods Supply Chain
Sawaliya Food Products’ IPO opens 7–11 August 2025, offering 26.02 lakh fresh equity shares and 3 lakh shares via offer for sale (~29 lakh shares total). Pricing and minimum bid details are pending. It will list on NSE EMERGE with a 35% retail allocation.
Founded in 2014, Sawaliya manufactures dehydrated vegetables for leading FMCG brands, serving domestic and export markets from its Madhya Pradesh plants. In FY2025, it reported revenues of INR 34.18 crore and net profit of INR 6.95 crore.
Conclusion
The IPO calendar for August 2025 reflects India’s evolving economic story — from finance and cement to EPC projects, and real estate. Whether it’s a marquee brand like Hero FinCorp or niche players like Highway Infrastructure and SMPP, the upcoming IPOs in August 2025 offer something for every investor type.
As always, investors should review DRHPs, track SEBI approvals, and monitor grey market trends before committing capital. For live updates, GMP, and subscription data on every IPO in August 2025, keep an eye on IPO Central and similar sources.
For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription, stay tuned to IPO Central.