Summary:
Discover the top 10 upcoming IPOs in India and the US for 2025. Learn which companies are going public and how to position your portfolio for growth.
As of June 3, 2025, the IPO landscape in both India and the United States is bustling with activity, offering investors a plethora of opportunities. From fintech disruptors to traditional industries, companies are tapping into public markets to fuel growth and innovation.
Here's a comprehensive look at ten notable upcoming initial public offerings (IPOs) across these two major economies.
1. Ganga Bath Fittings Ltd.
IPO Dates: June 4–6, 2025
Issue Size: ₹32.65 crore
Price Band: ₹46–₹49
Listing Platform: NSE Emerge
Overview: Specialising in bathroom accessories and sanitaryware, Ganga Bath Fittings aims to capitalise on the growing demand in the real estate and construction sectors.
Why It's Worth Considering: The Indian housing and infrastructure sector is booming. As demand for premium bathroom fittings rises, Ganga Bath Fittings is well-positioned, thanks to its strong domestic manufacturing capabilities and brand reach.
2. Fusion CX Ltd.
IPO Size: ₹1,000 crore
Purpose: Expansion and debt repayment
Financials: Reported ₹991 crore revenue and ₹36 crore PAT in FY24
Overview: A customer experience service provider, Fusion CX plans to utilise the funds for technological upgrades and strategic acquisitions.
Why It's Worth Considering: With increasing emphasis on digital customer experiences and omnichannel support, Fusion CX is tapping into a growing market. Its consistent revenue and profit growth signals solid fundamentals.
3. CMPDI (Central Mine Planning & Design Institute)
Stake Sale: 10% by Coal India Limited
Financials: ₹2,102 crore revenue and ₹666 crore PAT in FY24-25
Overview: As a consultancy arm of Coal India, CMPDI's IPO marks a significant move in the government's divestment strategy.
Why It's Worth Considering: As a key consultancy under Coal India, CMPDI benefits from stable government contracts and plays a vital role in India's energy and mining sectors, making it a low-risk bet for long-term investors.
4. Avanse Financial Services
Estimated Issue Size: ₹3,500 crore
Sector: Education finance
Overview: Catering to the education sector, Avanse aims to bolster its lending capabilities through this IPO.
Why It's Worth Considering: With a niche in education finance, an underserved yet fast-growing sector in India, Avanse is addressing the rising middle-class demand for educational loans both domestically and abroad.
5. JSW Cement
Estimated Issue Size: ₹4,000 crore
Sector: Cement manufacturing
Overview: Part of the JSW Group, the company plans to expand its production capacity and market reach.
Why It's Worth Considering: India's infrastructure and construction sector is gaining attention due to government-led programs like affordable housing and Smart Cities, which this IPO, supported by the respected JSW Group, provides exposure.
6. Chime Financial Inc.
IPO Date: June 12, 2025
Valuation Target: Up to $11.2 billion
Shares Offered: 32 million.
Price Range: $24–$26
Ticker: CHYM (Nasdaq)
Overview: A digital banking startup, Chime aims to raise $832 million, marking one of the largest fintech IPOs in recent times.
Why It's Worth Considering: Chime is one of the top digital banking platforms in the US, appealing to younger, tech-savvy consumers. Its high user base and rapid growth make it a top fintech pick with long-term upside.
7. Omada Health
Valuation Target: Approximately $1.1 billion
Shares Offered: 7.9 million.
Price Range: $18–$20
Ticker: OMDA (Nasdaq)
Overview: Specialising in virtual chronic care, Omada Health seeks to raise $158 million to expand its digital health services.
Why It's Worth Considering: As healthcare progresses virtually, Omada is a leader in chronic condition management through digital platforms. The pandemic has accelerated demand for telehealth, and Omada is set on this trend.
8. Voyager Technologies
Estimated Deal Size: $303 million
Shares Offered: 11 million.
Price Range: $26–$29
Ticker: VOYG
Overview: A tech company focusing on AI-driven solutions, Voyager Technologies is poised to make a significant impact in the AI sector.
Why It's Worth Considering: AI is the dominant theme of 2025 investing, and Voyager's focus on enterprise AI solutions gives it strategic appeal. Its IPO could ride the wave of continued investor enthusiasm for AI innovation.
9. Circle Internet Financial
Estimated Deal Size: $880 million
Shares Offered: 32 million.
Price Range: $27–$28
Ticker: CRCL
Overview: Known for its stablecoin USDC, Circle's IPO is a significant event in the cryptocurrency and fintech landscape.
Why It's Worth Considering: As the issuer of USDC, a massively regulated stablecoin, Circle stands at the intersection of crypto and fintech. With institutional and regulatory support growing, its IPO could offer an advantage in digital currency.
10. Stripe Inc.
Sector: Fintech
Overview: As the leading payment processing company, Stripe's anticipated IPO is one of the most awaited in the fintech industry.
Why It's Worth Considering: As one of the most anticipated IPOs globally, Stripe is already a giant in online payments as its infrastructure facilitates the growth of SaaS payments and global e-commerce by supporting platforms like Amazon and Shopify.
In conclusion, the IPO landscape in 2025 is vibrant, with companies across India and the US seeking to capitalise on favourable market conditions.
However, investors should conduct thorough due diligence, considering factors such as company financials, industry trends, and market sentiment before participating in these offerings.
Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
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