December’s IPO calendar is stacked like a festive Diwali hamper, with marquee names from e-commerce to asset management set to pull in over ₹31,000 crore from eager investors. As year-end liquidity flows in, these offerings aren’t just listings—they’re a snapshot of India’s growth bets, from digital marketplaces to green energy plays.
Kicking off the frenzy, top IPO to watch December 2025 India starts with Meesho’s splashy entry, followed by heavyweights like ICICI Prudential AMC and boAt, blending unicorn ambitions with steady blue-chip expansions. From the humming IPO desks in Mumbai’s financial district to investor meets in Gurugram, the buzz is palpable: This month’s pipeline could cap 2025’s record ₹1.54 lakh crore fundraising haul with a bang.
Meesho IPO: The E-Commerce Unicorn Stealing the Spotlight
Meesho tops the charts for sheer scale and story, a Bengaluru-born platform that’s turned social commerce into a lifeline for Tier-2 sellers and budget buyers alike. Filing its DRHP in October, the ₹5,421.20 crore issue breaks down to a ₹4,250 crore fresh raise for tech ramps and a ₹1,171.20 crore OFS from backers like Elevation Capital and Peak XV.
Read Also – Meesho IPO Price Band Analysis: ₹105-₹111 Range Eyes ₹52,500 Cr Valuation Amid E-Com Surge
Price band? Locked at ₹105-₹111 per share, valuing the firm at ₹52,500 crore on the upper end—modest for a unicorn boasting 198.77 million transacting users and ₹7,615 crore FY25 revenue, up 33% YoY. Losses did widen to ₹3,942 crore on ESOP hits, but H1 FY26 narrowed them to ₹701 crore with positive adjusted EBITDA. Opens December 3, closes 5th, lists 10th on BSE-NSE. Grey market premium’s at ₹33-₹35, hinting 30% debut pop—retail quota’s 10%, minimum lot 135 shares at ₹14,985 max.
Read Also – Meesho IPO Details 2025: Price Band Fixed at ₹105-₹111, Opens December 3 for ₹5,421 Crore Raise
Chats with seller networks in Jaipur last week paint Meesho as the “people’s Flipkart,” with 5.75 lakh active vendors and Valmo logistics shipping a third of India’s e-parcels. In a month crowded with debuts, it’s the one blending hyper-growth with everyday appeal.
Read Also – Meesho IPO details: Meesho Sets ₹105-111 Price Band for Landmark ₹5,421 Crore IPO, Opens December 3
ICICI Prudential AMC IPO: Steady Bet on Mutual Fund Boom
If Meesho’s the flashy opener, ICICI Prudential AMC is the rock-solid anchor, eyeing ₹10,000 crore—the month’s jumbo. As India’s second-largest AMC with ₹9.14 lakh crore AUM as of March 2025 (13.3% market share), it’s filing for a pure OFS, letting promoters ICICI Bank and Prudential Plc offload stakes without fresh capital.
No price band yet, but whispers peg valuation at ₹1.2-1.5 lakh crore, trading at 8-10x FY25’s ₹5,200 crore revenue. Equity schemes dominate, with 13.4% share in that segment, fueled by SIP inflows hitting ₹25,000 crore monthly. Expected mid-December launch, post-SEBI nod—could list by year-end.
From asset manager huddles in Bandra, the talk is of resilience: Amid market volatility, AUM grew 25% YoY, with hybrid funds pulling crowds. For conservative portfolios, it’s a top IPO to watch December 2025 India, offering dividends over drama.
Why This AMC Stands Out in the Pack
ICICI Prudential’s edge? A 29-year track record since 1993, 1.2 crore folios, and tech like iMobile for seamless buys. Peers like HDFC AMC traded at 12x post-IPO; expect similar multiples here, with low debt and 20% PAT margins. Risks? Fee pressures from SEBI caps, but equity tailwinds keep it buoyant.
boAt IPO: Audio Wearables Riding Consumer Wave
Imagine & Co, behind the boAt brand, queues up next with a ₹2,500 crore target—fresh issue for inventory and marketing, OFS for early investors like Warburg Pincus. Valued at $1.5 billion privately, it’s eyeing ₹1,200 crore fresh at ₹150-₹160 band, listing late December.
Read Also – NSE IPO: How to Buy Unlisted Shares, IPO Pricing, Risks & Comparison with BSE – Your Perfect Strategy!
FY25 revenue? ₹3,400 crore, up 40% on earbuds and smartwatches, with 10 million units shipped quarterly. Losses trimmed to ₹150 crore from expansion spends, EBITDA positive at 8%. Minimum lot: 100 shares, retail slice 35%.
Street-side scoop from Delhi’s gadget bazaars: boAt’s “Made in India” vibe and celeb tie-ups with Virat Kohli have captured 25% market share, edging Noise and Fire-Boltt. In December’s mix, it’s the consumer tech spark for gadget junkies.
Hero FinCorp IPO: Fintech Arm’s Big Fintech Push
Hero MotoCorp’s lending wing, Hero FinCorp, plans a ₹4,000 crore OFS mid-month, no fresh capital but unlocking value at ₹40,000 crore valuation. Focus: Two-wheeler loans, with ₹12,000 crore disbursals in FY25, revenue ₹1,800 crore up 28%.
Price? Around ₹500-₹550, P/B 3x on ₹2,000 crore book. Lists NSE-BSE by December 20. Ground reports from two-wheeler hubs in Hosur highlight 15% margins on rural financing, low NPAs at 1.2%.
It’s a play on India’s mobility boom—top IPO to watch December 2025 India for steady yields amid volatile markets.
Other Contenders: Aequs, Clean Max Enviro, and Fractal Analytics
Don’t sleep on Aequs, the Belagavi aerospace park specialist raising ₹922 crore (₹670 fresh) at ₹118-₹124, opens December 3—ties to Boeing make it a manufacturing gem. Clean Max Enviro’s ₹1,500 crore green energy IPO eyes solar leases, post-SEBI nod, for ESG hunters.
Fractal Analytics rounds out with ₹1,200 crore analytics play, backed by TPG—AI-driven insights for Fortune 500, revenue ₹2,800 crore. All slated early December, blending infra, renewables, and data smarts.
Quick Hits on December’s SME Surge
Beyond mains, 11 SME IPOs like Vidya Wires (₹300 crore wires), Speb Adhesives (₹150 crore), and Invicta Diagnostic (₹250 crore labs) open next week—smaller bites but high-growth niches. Total pipeline? ₹31,000 crore across 20+ issues.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Market conditions can change rapidly; always consult a certified financial advisor before making investment decisions. Data sourced from SEBI filings, DRHPs, and exchange updates as of December 1, 2025.
Primary markets are firing on all cylinders—grab your demat login and scout the DRHPs on NSE today. Which top IPO to watch December 2025 India catches your eye first?
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