Upcoming IPOs: Lenskart To Pine Labs, Big-Ticket Mainboard Issues To Watch Out For In November

The IPO market in India has been buzzing this year with the launch of several big-ticket mainboard issues. Primary market investors are also keeping a watch on upcoming mainboard issues even as 2025 approaches its final stretch, especially in light of the successful listings of Tata Capital and LG Electronics India.

Although there are just over two months left in the year, several leading players across sectors are preparing to launch their initial public offerings (IPOs) in November and December 2025. A few major companies are also expected to launch their IPOs in the first quarter of 2026.

Here's a look at the upcoming IPOs of six leading companies across fintech, consumer electronics, asset management, and food and beverage sectors. These mainboard issues are expected to be launched in November.

Eyewear retailer Lenskart is gearing up to launch its Rs 8,000-crore IPO in early November, according to reports. This would be the fourth-largest issue of 2025 after Tata Capital, HDB Financial Services and LG Electronics India. The lead book-running managers are Kotak Mahindra Capital, Morgan Stanley, Citi, Avendus, and Axis Capital. According to ET, backed by Temasek and KKR, Lenskart aims to expand further into Tier-2 and Tier-3 cities while strengthening its omnichannel presence.

ICICI Prudential Asset Management Company, India’s second-largest mutual fund house, is planning to launch a Rs 10,000-crore IPO. UK-based Prudential will offload a 10% stake through the IPO.

Fintech firm Pine Labs, backed by Peak XV Partners and Mastercard, is gearing up to raise Rs 5,800 crore from the primary market through its IPO in early November. The company offers payment and commerce solutions to over five lakh merchants.

Lifestyle electronics brand boAt is expected to raise Rs 2,000 crore through its mainboard issue. The IPO is expected to be launched by the end of November. The company, backed by Warburg Pincus and Qualcomm, plans to use the proceeds to reduce debt and increase manufacturing capacity.

Online brokerage Groww is planning a Rs 7,000-crore IPO in the first week of November. Backed by Microsoft CEO Satya Nadella, Groww serves over 10 million users. The issue will comprise a fresh equity share offering of Rs 1,060 crore along with an offer-for-sale component (OFS) of 574,190,754 shares by promoters and investors.

Orkla India, the parent of MTR Foods, is reportedly planning to launch its IPO by mid-November. The issue will be entirely an offer-for-sale (OFS), in which promoters Orkla Asia Pacific Pte and shareholders Navas Meeran and Feroz Meeran will offload nearly 2.28 crore equity shares, according to reports. ICICI Securities, Kotak Mahindra Capital, Citigroup Global Markets India and JP Morgan India are the lead book-running managers.