The IPO wave in 2025 has run strong from the start, and it shows no sign of slowing as the year nears its close. According to market data so far, 93 mainboard companies have listed this year, raising about Rs 1.54 lakh crore, while the SME segment brought in another Rs 10,295 crore. That pace has already exceeded early-year expectations. Now the final stretch of 2025 is shaping up to add several high-profile names, with the combined issue sizes of Meesho, Clean Max Enviro Energy Solutions, Imagine Marketing (boAt) and Milky Mist Dairy Food adding up to more than Rs 13,000 crore. Here is a look at the key issues expected to hit the market in the coming weeks.
Meesho IPO
Meesho has filed for a public issue that includes a Rs 4,250 crore fresh issue and an offer for sale of 175.69 million shares. The OFS will see major early investors reducing their stakes. Elevation Capital V Limited will sell up to 55.42 million shares. Peak XV Partners Investments will offload 30.50 million. Highway Series 1 will sell 15.70 million, while Y Combinator plans to divest 12.62 million shares. Founders Vidit Aatrey and Sanjeev Kumar will each sell 11.77 million shares. According to the draft red herring prospectus, Meesho plans to use the fresh issue proceeds to strengthen cloud infrastructure at its subsidiary Meesho Technologies, expand hiring in machine learning and technology roles, invest in brand-building, and pursue strategic acquisitions.
Clean Max Enviro Energy Solutions IPO
Clean Max Enviro Energy Solutions, one of India’s largest renewable energy suppliers to commercial and industrial clients, is preparing a public issue of up to Rs 5,200 crore. The offer includes a Rs 1,500 crore fresh issue and a Rs 3,700 crore OFS. Founder Kuldeep Jain will sell shares worth Rs 321.37 crore. BGTF One Holdings plans to divest shares worth Rs 1,970.83 crore. KEMPINC LLP will offload Rs 225.61 crore, Augment India 1 Holdings will sell Rs 991.94 crore, and DSDG Holdings Aps will exit with Rs 190.25 crore worth of shares. Fresh proceeds will primarily be used for repayment or prepayment of borrowings across the company and its subsidiaries, with the remainder going toward general corporate purposes.
boAt (Imagine Marketing) IPO
Imagine Marketing, the parent firm of boAt, has proposed a Rs 1,500 crore IPO. The issue includes a Rs 500 crore fresh component and a Rs 1,000 crore offer for sale. Promoters Sameer Ashok Mehta and Aman Gupta will sell shares worth Rs 75 crore and Rs 225 crore. South Lake Investment will offload shares worth Rs 500 crore. Fireside Ventures Investment Fund – I will sell Rs 150 crore, while Qualcomm Ventures plans to sell Rs 50 crore.
Milky Mist Dairy Food IPO
Milky Mist Dairy Food, known for its wide product lineup across curd, paneer, cheese, ghee, yoghurt and other dairy categories, is preparing a public issue of Rs 2,035 crore. The fresh issue accounts for Rs 1,785 crore. The OFS will comprise Rs 250 crore worth of shares, with founders Satishkumar T and Anitha S selling Rs 150 crore and Rs 100 crore, respectively. The company plans to use the fresh capital to reduce debt, expand and modernise its Perundurai manufacturing facility, deploy visi coolers and ice cream freezers, and meet general corporate needs.