Upcoming IPO Carnival: ₹25,000+ Crore Pipeline Builds as Investors Gear Up for 2025 Mega Issues

December 20 signals the start of a strong build-up phase in the Indian primary market as multiple large and mid-sized companies prepare to tap investors, pointing toward a blockbuster upcoming IPO season.

Upcoming IPO Carnival Builds Momentum as ₹25,000+ Crore Issues Line Up

The Indian IPO market is entering a high-anticipation phase, with ₹25,000 crore+ worth of IPOs lined up across renewable energy, fintech, consumer, healthcare, and specialty sectors. Market participants are actively tracking these names as filings progress and timelines firm up.

🏦 Big-Sized IPOs in the Pipeline

Clean Max Enviro IPO
- Expected Issue Size: ~₹5,000 crore
- Sector: Renewable Energy
- Investor View: Strong ESG and green-energy theme
Fractal Analytics IPO
- Expected Issue Size: ~₹3,900 crore
- Sector: AI & Analytics
- Investor View: Tech-led growth with global clientele
Hero Fincorp IPO
- Expected Issue Size: ~₹3,000 crore
- Sector: NBFC / Financial Services
- Key Highlight: Shareholder quota expected to be available
Juniper Green IPO
- Expected Issue Size: ~₹3,000 crore
- Sector: Renewable Power

“Large-cap pipelines returning strongly indicate institutional confidence in India’s primary markets.”

👥 Consumer & Technology-Oriented IPOs

Milky Mist IPO – ~₹1,500 crore (Dairy & FMCG)
Innovatiview IPO – ~₹1,500 crore (Tech & Surveillance Solutions)
Manipal Payment & Identification IPO – ~₹1,200 crore (Fintech & Digital Payments)
Kanodia Cement IPO – ~₹1,200 crore (Infrastructure & Cement)

These issuers are expected to draw strong retail interest due to brand visibility and sector familiarity.

💊 Healthcare, Pharma & Specialty Plays

Veeda Clinical IPO – ~₹800 crore
LCC Projects IPO – ~₹700 crore
Waterways Leisure (Cordelia Cruises) IPO – ~₹700 crore
Skyways Air Services IPO – ~₹600 crore
Ardee Engineering IPO – ~₹500 crore

Healthcare and specialty businesses continue to attract long-term investors seeking defensiveness and niche growth.

💎 Mid & Small-Cap IPO Prospects

PNGS Reva Diamond IPO – ~₹400 crore
CIEL HR Services IPO – ~₹400 crore

These mid-sized offerings are expected to appeal to investors looking for higher growth potential with manageable issue sizes.

Market Context (Short)

Indicator	Status
IPO Pipeline Strength	Very Strong
Sector Diversity	High
Institutional Interest	Building
Retail Anticipation	Rising

What Should IPO Investors Watch Next?

DRHP approvals and IPO date announcements
Price band disclosures and issue structures
Shareholder quota details (especially Hero Fincorp)
GMP signals once timelines become official on Live IPO GMP Today

Useful IPO Links & Resources

Disclaimer: IPO investments are subject to market risks. GMP is an unofficial indicator and should not be considered financial advice.