Upcoming IPOs in India – November 2025 [DRHP, Issue Size, Dates]

Which IPOs Are Scheduled for November 2025?

Several high-profile IPOs are lined up for November 2025, including Groww, OYO, boAt, Kent RO Systems, Hero Motors, FabIndia, Studds Accessories, Droom, and Snapdeal. Most have filed their DRHPs and are either awaiting or have already received SEBI approval.

Which Is the Largest IPO Expected in November 2025?

Groww is set to launch the largest IPO in November 2025, estimated between ₹6,000 to ₹7,000 crore. This includes a fresh issue of ₹1,060 crore, with the remainder as an offer for sale from existing investors.

Are Any Well-Known Consumer Brands Going Public?

Yes. Recognized consumer-facing companies such as boAt (audio & wearables), Kent RO (home appliances), and FabIndia (ethnic retail) are all preparing for IPOs during the November–December 2025 window.

Should Retail Investors Consider These IPOs?

Some IPOs, like Groww and Kent RO, offer strong brand visibility and improving financials — making them attractive to retail investors. However, every IPO carries unique risks. Always review the DRHP, compare valuation multiples, and assess market sentiment before applying.

Quick Overview of Key Upcoming IPOs

Company-Wise Breakdown

Groww IPO

• Sector: Fintech / Stockbroking

• Issue Size: ₹6,000–7,000 crore

• DRHP Status: SEBI approved (filed Sept 2025)

• Valuation: ~$7–9 billion

• Business Model: Revenue from stock brokerage, mutual funds, wealth products, and interest spreads

• Listing Date: Expected in November 2025

Groww is one of the most anticipated IPOs this season. With over 12.6 million active NSE clients and strong digital brand loyalty, Groww has emerged as a top retail investing app in India. Its IPO is likely to draw attention from both tech investors and retail subscribers.

OYO IPO

• Sector: Hospitality / Online Booking

• Issue Size: ₹3,000–4,500 crore

• DRHP Status: To be filed (Nov 2025 expected)

• Valuation: ~$7–8 billion

• Business Model: Franchise revenue + tech platform services for small hotels

• Listing Date: Possibly December 2025

OYO’s IPO is a second attempt after withdrawing its 2021 filing. With improving financials and reduced losses, OYO is staging a comeback to the public markets. A successful listing would revive global investor sentiment toward Indian tech startups.

boAt IPO

• Sector: Consumer Electronics / Audio

• Issue Size: ₹2,000 crore (₹900 Cr fresh + OFS)

• DRHP Status: SEBI approved via pre-filing route

• Valuation: ~$1.5 billion

• Business Model: Sales of wearables, audio products, smartwatches

• Listing Date: H1 2026 (expected)

boAt’s brand visibility and youth connect give it a strong retail appeal. With India’s wearable market growing rapidly, investors will be watching its margins, competition, and scale-up plans.

Hero Motors IPO

• Sector: Auto Components / Export

• Issue Size: ₹1,200 crore (₹800 Cr fresh + OFS)

• DRHP Status: Filed Jul 2025

• Valuation: TBD

• Business Model: Supplies engine & transmission components to OEMs like BMW, Ducati, Harley

• Listing Date: Q4 FY2025

Hero Motors is part of the Hero Group and has a strong export-driven business model. Its IPO could be seen as a manufacturing play for investors betting on Make-in-India and auto exports.

Kent RO Systems IPO

• Sector: Home Appliances / Water Purification

• Issue Size: Offer for Sale (Exact ₹ TBD)

• DRHP Status: Filed Jan 2025, SEBI approved

• Valuation: TBD

• Business Model: Sells RO purifiers, air purifiers, kitchen appliances

• Listing Date: Late 2025

Kent’s IPO is expected to attract attention due to its strong brand recall in Indian households. While it’s an OFS-only issue, investors may still find value in a profitable, consumer-focused business.

FabIndia IPO

• Sector: Retail / Apparel

• Issue Size: ₹500 crore fresh + OFS

• DRHP Status: Filed Jan 2022 (under review)

• Valuation: ~₹20,000 crore target

• Business Model: Ethnic wear and lifestyle products, artisan-driven supply chain

• Listing Date: Awaiting SEBI clearance

FabIndia’s social enterprise model — connecting rural artisans with urban consumers — makes it a unique listing candidate. While the filing is older, renewed IPO interest in retail could bring it back.

Bajaj Energy IPO

• Sector: Power Generation

• Issue Size: ₹5,450 crore (₹5,150 fresh + ₹300 OFS)

• DRHP Status: Filed and approved (2019)

• Valuation: TBD

• Business Model: Coal-based thermal power generation (2,430 MW)

• Listing Date: On hold

Though filed long ago, this IPO is still live and could revive depending on infra demand and institutional interest.

Studds Accessories IPO

• Sector: Auto Accessories / Helmets

• Issue Size: OFS Only (77.9 lakh shares)

• DRHP Status: Filed Mar 2025

• Valuation: TBD

• Business Model: Helmets, riding gear, accessories sold domestically and exported

• Listing Date: H1 2026 expected

Studds is the largest helmet maker in India and among the biggest globally by volume. Its export-driven numbers and domestic market share are its biggest strengths.

Snapdeal (AceVector) IPO

• Sector: E-commerce (Tier-2 focus)

• Issue Size: ₹500–700 crore

• DRHP Status: Confidential pre-filing done (Jul 2025)

• Valuation: ~$1.5–2 billion

• Business Model: Online marketplace for value-focused shoppers

• Listing Date: 2026

Snapdeal is repositioning itself as a low-cost e-commerce player focused on middle-India. Its IPO will depend on profitability trends and platform traction.

Droom IPO

• Sector: Online Auto Classifieds

• Issue Size: ₹1,000 crore

• DRHP Status: To be refiled (Q3–Q4 FY25)

• Valuation: ~$1.2–1.5 billion

• Business Model: Used car marketplace + inspection, insurance, finance

• Listing Date: Q4 FY25 expected

Droom’s shift toward auto services and digital ownership tracking could make it attractive to investors looking for niche online plays.

Arohan Financial Services IPO

• Sector: Microfinance / NBFC

• Issue Size: TBA

• DRHP Status: Not filed in 2025

• Valuation: N/A

• Business Model: Micro-loans to underserved rural women borrowers

• Listing Date: TBD

Arohan may re-enter the IPO track once its books and funding stability align with RBI’s NBFC guidelines.

DRHP and Filing Status Tracker

Final Thoughts

November 2025’s IPO calendar is diverse — fintech, auto, retail, electronics, and consumer durable sectors are all represented. Groww and Kent RO offer brand visibility and financial traction. boAt and Hero Motors represent modern manufacturing. Studds and Snapdeal may appeal to niche investors.

Tip: Don’t rely on hype. Read every RHP, compare valuation multiples with peers, and watch anchor investor response.

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Note: This article is for informational purposes only. Please consult SEBI filings and certified financial advisors before investing.