The Indian primary market is heading toward a record-breaking week as December opens with a flurry of public issues. Between 1 and 5 December 2025, investors will witness one of the largest IPO waves of the year, with 14 companies launching their offerings across the mainboard and SME platforms. Collectively, these IPOs aim to raise nearly INR 6,964 crore, underscoring the continued strength of investor sentiment and the resilience of India’s equity markets.
This dynamic mix of listings spans industries as varied as aerospace, e-commerce, specialty chemicals, FMCG, travel, diagnostics, and IT services—reflecting the diversity and depth of India’s economic growth. The highlight of the week will be Meesho’s INR 5,421.20 crore IPO, while Western Overseas will mark the other end of the spectrum with a smaller issue of INR 10.07 crore. Together, they mark an extraordinary start to December and a strong finish to 2025 for the country’s IPO landscape.
Mainboard IPOs Next Week
Meesho – Among the First IPOs Next Week
Business Overview: Meesho, India’s largest e-commerce marketplace by order volume, connects consumers, sellers, logistics partners, and creators through its zero-commission model. Its user base exceeds 23 crore transacting customers, with a strong rural and female demographic presence. Backed by AI-driven cataloguing and logistics, the company has achieved exceptional reach but continues to report losses amid expansion.
- Fund Utilization: The fresh issue proceeds will be used for marketing, technological development, general corporate purposes, and scaling the platform’s logistics and warehousing capabilities.
- IPO Dates & Size: Open from 3 – 5 December 2025, the IPO consists of a fresh issue of INR 4,250 crore and an OFS of INR 1,107.90 – 1,171.20 crore, aggregating to INR 5,357.90 – 5,421.20 crore.
- Price Band & GMP: The price band is INR 105 – 111 per share, with a lot size of 135 shares. The GMP stands around INR 33 – 35, signalling healthy investor interest.
Aequs Limited – Second Biggest Among IPOs Next Week
Business Overview: Aequs stands as India’s only precision component manufacturer operating within a single Special Economic Zone (SEZ), offering vertically integrated aerospace manufacturing. With clients such as Airbus and Boeing, the company serves multiple aerospace sub-segments — including engines, landing systems, interiors, and structures. It has also diversified into cookware, home appliances, toys, and smart device components.
- Fund Utilization: The proceeds from the fresh issue will be used to repay borrowings, expand aerospace machining and surface-treatment facilities, and enhance working capital.
- IPO Dates & Size: Open from 3 – 5 December 2025, the IPO includes a fresh issue of INR 670 crore and an OFS worth INR 239.63 – 251.81 crore, aggregating to INR 909.63 – 921.81 crore.
- Price Band & GMP: The price band is INR 118 – 124 per share (Employee discount – INR 11) with a lot size of 120 shares. The GMP has been trending between INR 18 – 37, indicating mild optimism ahead of listing.
Vidya Wires
Business Overview: Established in 1981, Vidya Wires manufactures conductivity and winding products such as enameled wires, copper busbars, and insulated conductors. With a 5.7% market share and exports to 18 countries, the company’s new Narsanda facility will nearly double capacity to 37,680 MTPA.
- Fund Utilization: The funds will support debt repayment, capacity enhancement, and capital expenditure at its new manufacturing facility.
- IPO Dates & Size: Open from 3 – 5 December 2025, the IPO includes a fresh issue of INR 274 crore and an OFS of INR 24 – 26.01 crore, totaling INR 298 – 300.01 crore.
- Price Band & GMP: The price band is INR 48 – 52 per share with a lot size of 288 shares. The GMP is around INR 9, suggesting steady demand.
SME IPOs Next Week
The upcoming SME IPOs next week bring remarkable diversity to India’s capital market landscape. A total of 11 issues, ranging between INR 10 crore and INR 87 crore, are slated to open between 1 and 5 December 2025 across sectors such as chemicals, diagnostics, travel, food processing, consumer products, IT services, and manufacturing. These offerings, designed primarily for retail investors, showcase the growing appetite for participation in niche, high-growth businesses.
The growing interest in SME IPOs scheduled for next week reflects confidence in India’s entrepreneurial ecosystem and highlights opportunities beyond the mainstream. Below is the list of SME IPOs coming next week:
Ravelcare – Biggest Among SME IPOs Next Week
Incorporated in 2018, Ravelcare is a digital-first beauty and personal care brand offering customized haircare, skincare, and bodycare solutions. The company operates a strong D2C model supported by e-commerce platforms such as Amazon, Flipkart, and Myntra, and has expanded its customer base internationally. Its IPO opens from 1 – 3 December 2025, with a total issue size of INR 22.80 – 24.10 crore at a price band of INR 123 – 130 per share, and will list on BSE SME.
Clear Secured Services – Biggest Among SME IPOs Next Week
Clear Secured Services IPO opens from 1 – 3 December 2025, offering INR 81.06 – 85.60 crore at a price band of INR 125 – 132 per share, to be listed on NSE EMERGE. Founded in 2008, the company provides integrated facility management and support services, including housekeeping, security, telecom infrastructure, and cash van operations. With over 80 active clients across 11 states, the company serves both corporate and government clients.
Invicta Diagnostic
Established in 2021, Invicta operates diagnostic centers across the Mumbai Metropolitan Region, offering pathology and radiology tests, including MRI, CT, and PET-CT. The company’s hub-and-spoke model ensures cost efficiency and accessibility. The IPO opens from 1 – 3 December 2025, with an issue size of INR 26.47 – 28.12 crore at a price band of INR 80 – 85 per share, and will be listed on NSE SME.
SPEB Adhesives
Based in Raigad, Maharashtra, SPEB manufactures solvent- and water-based adhesives catering to industrial, woodworking, and footwear applications. The company operates with an installed production capacity of 12,000 liters per day and serves both B2B and government contracts. The IPO opens from 1 – 3 December 2025, with an issue size of INR 31.42 – 33.73 crore at a price band of INR 52 – 56 per share, and will list on NSE EMERGE.
Astron Multigrain
Astron Multigrain is to launch its IPO in 1 to 3 December 2025. Incorporated in 2018, it is a Gujarat-based food manufacturing company producing instant noodles and papad under its own “Swagy Noodles” brand and contract manufacturing agreements. With a capacity of 5,110 MTPA and 43% utilization, the IPO for INR 18.40 crore at a fixed price of INR 63 per share, and will list on BSE SME.
Neochem Bio Solutions
Established in 2017, Neochem Bio Solutions is an Ahmedabad-based specialty chemicals company producing polymers, surfactants, silicones, and esters, catering to home care, textile, and water treatment industries. The IPO opens from 2 – 4 December 2025, with an issue size of INR 42.68 – 44.97 crore at a price band of INR 93 – 98 per share, to be listed on NSE EMERGE.
Helloji Holidays
Delhi-based Helloji Holidays provides comprehensive travel and tourism solutions, including air ticketing, hotel bookings, corporate MICE travel, and ancillary services like visa assistance. With growing B2C business and expanding B2B partnerships, the IPO opens from 2 – 4 December 2025, for INR 10.22 – 10.96 crore at a price band of INR 110 – 118 per share, and will list on BSE SME.
Shri Kanha Stainless
A precision stainless-steel manufacturer, Shri Kanha Stainless, specializes in thin and ultra-thin cold-rolled strips for automotive, chemical, and consumer goods industries. The IPO opens from 3 – 5 December 2025, with an issue size of INR 46.28 crore at a fixed price of INR 90 per share, to be listed on NSE EMERGE.
Luxury Time
Established in 2008, New Delhi-based Luxury Time distributes and retails Swiss luxury watch brands such as TAG Heuer and Zenith. With 70+ retail points across India and two exclusive boutiques, the IPO opens from 4 – 8 December 2025, with an issue size of INR 17.82 – 18.74 crore at a price band of INR 78 – 82 per share, and will list on BSE SME.
Western Overseas Study Abroad – Smallest Among IPOs Next Week
Headquartered in Haryana, Western Overseas offers overseas education and immigration consultancy services, including language training and visa assistance for 14 countries. The IPO opens from 4 – 8 December 2025, with an issue size of INR 10.07 crore at a fixed price of INR 56 per share, to be listed on BSE SME.
MethodHub Software
Chennai-based MethodHub Software delivers IT and consulting services across Data & AI, Cloud, Cybersecurity, and Infrastructure domains. Serving clients across six industries, including BFSI and healthcare, the IPO opens from 5 – 9 December 2025, comprising a fresh issue of INR 87.5 crore and an OFS of 8,00,000 shares, and will list on BSE SME.
Conclusion
December 2025 promises to be one of the busiest IPO months of the year, featuring both marquee mainboard listings and a vibrant line-up of SME entrants. From aerospace to IT services, investors have a wide array of opportunities to explore. While enthusiasm is high, participants should evaluate fundamentals, valuations, and grey market trends before subscribing, as disciplined selection remains the key to long-term gains in the equity market.
Clearly, IPOs Next Week will not just raise capital but also symbolize India’s growth momentum across industries.
According to IPO Central, as of November 2025, a total of 94 mainboard IPOs have been listed this year, delivering cumulative returns of 9.47%. The average current return across these offerings stands at approximately 11.81%. Collectively, the mainboard issuances have raised INR 1,54,317.32 crore, and total fundraising is projected to approach the INR 2 lakh crore mark by the end of December. The overall number of IPOs is also likely to surpass 100 by year-end.
In the SME segment, activity has remained particularly strong. So far in 2025, 228 SME IPOs have been listed, mobilising INR 10,533.35 crore from the market, with an average listing gain of 12.66%. In comparison, 2024 saw 247 SME IPOs, which together raised INR 9,624.97 crore and delivered a significantly higher average return of 60.26%.
While the number of SME IPOs in 2025 may exceed last year’s tally, the overall return profile has been considerably weaker. Despite robust issuance volumes, SME IPO returns in 2025 have lagged sharply compared to the exceptionally strong performance seen in 2024. For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.