Upcoming IPOs in India: November 2025 Market Preview

Introduction

An initial public offering (IPO) is an occasion when a private company sells its stocks to the public for the first time, thereby going public. Through an IPO, the company can sell stocks to institutional investors and members of the public for cash to finance its growth. The shares are subsequently listed on a stock exchange, where they may be bought and sold at will.

The noise in the primary market is likely to stand bright until some large players launch their much-awaited IPOs near the market. According to media reports, the market is expected to have public offerings worth around ₹76,000 crore.

Why should one buy an IPO?

The future of IPOs is going to be very bright, especially in growing countries, India being one of them in which positive economic conditions with a large pipeline of mature startups and increased retail and institutional investor participation drive IPOs.

One must consider going for an Initial Public Offering (IPO) to expect high returns due to listing gains and long-term capital appreciation at the same time investing in a company as its early stage when listing and investing in a diversified portfolio.

Upcoming IPOs in India

• Physicswallah is an edtech company offering test preparation courses for various competitive examinations like JEE, NEET, UPSC, etc. and upskilling courses like Data science and analytics, banking and finance, software development, etc. is set to launch its upcoming IPO from 11 November 2025 to 13 November 2025, with a fixed price band of ₹103 to ₹109 per share.
• Pine Labs Ltd., a leading fintech firm specialising in merchant payments and point-of-sale solutions, is now open starting from 7 November 2025 and closing on 11 November 2025, with a price band of ₹210 to ₹221 per share.
• Incorporated in March 2007, Emmvee Photovoltaic Power Limited is an integrated solar PV module and cell manufacturer will be opening its upcoming IPO from 11 November 2025 to 13 November 2025. The price band has been set at ₹206 to ₹217 per share.
• Incorporated in 2018, Tenneco Clean Air India Limited is a subsidiary of Tenneco Inc., a global leader in designing and manufacturing clean air and powertrain products for automotive applications. and is launching its upcoming IPO from 12 November 2025 to 14 November 2025 at a price band of ₹378 to ₹397 per share

IPO Application Eligibility Explained

An investor must have the following before buying an IPO:

• A valid PAN card
• A linked bank account to phone number
• A demat and a trading account

Step by step process of buying an IPO

The most convenient way of buying an IPO is through a broker, although a person can independently buy an IPO with the help of these following steps:

• Login to your brokerage account or the online portal of your bank, and jump onto the “IPO” or “Invest in IPO” section.
• Next, choose the company you wish to invest in from the long list of available IPOs. A very crucial step before selecting an IPO is to go through the company’s financials and future risks.
• Thereafter, fill in the application form provided with all the required details. Along with your personal and demat account details, which will often be pre-filled, other important details to fill in are:
  • The desired number of shares.
  • The category of investor.
  • The bid-price.
  • UPI ID.
• Cross-check all the filled details and then submit the application form.
• Approve the request for payment of funds on your UPI app. Alternatively, it automatically puts the funds online in your bank account for using this application processing through the net banking services.
• Instead of getting debited immediately, your application amount will be blocked in your account. Then, if you are allotted shares after the IPO window closes, the required amount will be debited, and if not, the amount will be returned to your balance.

How to check your allotment status?

Here’s how to check the status of your IPO application through the stock exchanges, namely NSE and BSE, or directly from the IPO registrar. On the exchange site, you will need to select the payoff option and insert your application number or PAN. The process on the registrar's website involves going to the allotment status section, selecting the IPO in question, and clicking either on your PAN or application number.

Conclusion

November 2025 promises to shape the way for India's primary market, given the several expected listings across various sectors from fintech, consumer tech, and now FMCG—that signifies growing confidence among companies as well as investors in India's economic momentum. These IPOs will bring exciting opportunities for investors to share in the growth stories of promising brands, with the help of proper research and clear understanding of the process. November 2025 turns out not simply to be another month of IPO activity but a window into the changing investment landscape of India and the dynamic role retail investors are continuing to play in it.

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