July 2025 IPO Carnival: Biggest Listings to Watch This Month
Explore the top upcoming IPOs in July 2025, including Hero Fincorp, NSDL, Brigade Hotels, IndiQube, Sri Lotus Developers, and GNG Electronics. Check issue details, business insights, and listing updates with IPO Ji

The Indian IPO market continues its vibrant run this July 2025, with several high-profile companies stepping into the public markets.
Look at the upcoming IPOs in July 2025:
Hero Fincorp IPO โ Fast Finance Powerhouse
Industry: NBFC / Financial ServicesIncorporated in 1991, Hero Fincorp Limited is one of the largest non-banking financial company (NBFC) in India, that provides a diversified portfolio of retail loans, MSME and corporate loans. Hero Fincorp has the strength of a well-established brand and corporate trust, thanks to the Hero MotoCorp Limited.
Key business Verticals
Retail Finance:
- Two-Wheeler Loans: Loan against Hero scooters, motorcycles, electric two-wheelers (E2Ws) and second hand car loans.
- Personal Loans: Real-time personal loan through mobile application, DSA and loyalty financing loan for existing customers.
- Mortgage Loans: Housing Loans, Real Estate, Renovation financing through its housing financing division.
MSME Finance:
- Secured Loans: property backed lending, construction finance.
- Unsecured Loans: Business loans, MSME supply chain finance and working capital solutions.
The Corporate e Institutional Finance (CIF):
- Advances to big industries, promoters, and institutional as well as secured and unsecured loans to such corporates.
Hero Fincorp products target the retail lending customer, small corporates as well as big corporates in India thereby standing as a major participant in the rising NBFC industry in India.
Expected Issue Size: โน3300 crore (as per industry estimates) Business Highlights:
- Retail loans, two-wheeler finance, SME loans
- Robust asset base and growth momentum
NSDL IPO โ Market Tech Giant
Industry: Market Infrastructure / TechnologyNational Securities Depository Limited (NSDL) plays a critical role in Indiaโs financial markets. The NSDL IPO is drawing attention for being a rare listing in the financial infrastructure segment.
Background of National Securities Depository limited (NSDL)
NSDL was established in 2012 as a Market Infrastructure Institution (MII) registered with the SEBI and it is one of the largest securities depositories in India. It offers dematerialization, trade settlement, pledge, off-market transfer and asset servicing on securities.
Key Services:
- Keeps demat accounts and records of ownerships
- Provides e-voting, consolidated account statement (CAS)
- Oversights pledging, corporate activities, and non disposal undertakings (NDU)
Subsidiaries:
- NDML: e-governance, KYC, insurance repository, automation of SEZs
- NPBL: B2B online payments, UPI, micro-ATM, insurance and mutual funds
Important Numbers (FY23):
- 31.46 million live demat classrooms
- Depository participants There are 283 depository participants; issuers 40,987 issuers
- Website fees in 99 per cent of Indian PIN codes and 186 countries in the world
Expected Issue Size: โน3500 crore Business Highlights:
- Indiaโs oldest depository
- Strong tech backbone supporting capital markets
Brigade Hotels IPO โ Hospitality Goes Public
Industry: Hospitality / Real Estate Why It Matters: With Indiaโs tourism and hospitality sector booming, Brigade Hotels is tapping public funds to expand its hotel chains and hospitality assets.
Expected Issue Size: โน600โโน800 crore Business Highlights:
- Part of Brigade Group
- Premium hotels and serviced apartments
IndiQube IPO โ Smart Offices Growth Story
Industry: Co-working / Real EstateAbout Indiqube Spaces Limited: Managed Office Spaces in India
Indiqube Spaces Limited is a fast-growing, tech-enabled, sustainable, and flexible office company with a base in India that was established in 2015. The company focuses on plug and play offices, corporate hubs, and branch offices which are renewing old buildings into modern offices with asset handling and custom covers.
- It operates 103 hubs in 13 cities such as Bengaluru, Mumbai, Gurugram, Pune, and Hyderabad
- 7.76 million sq. ft. AUM and 172,451 seats (June 30, 2024)
- Specializing in managed workspaces enterprise wide that are sustainably scalable
- Its portfolio consists of renovated sustainable office spaces of 31.67 percent
- Subsistent in Tier I and Tier II Indian Cities
The growth of enterprises comes on the row of Indiqube strategies as it targets large corporates, which makes it a high-performance provider in the flexible workspace and coworking solutions market in India.
Expected Issue Size: โน500โโน700 crore
Sri Lotus Developers IPO โ Real Estate Expansion
Industry: Real Estate DevelopmentSri Lotus Developers and Realty Limited (Luxury and Ultra- luxury Redevelopment Fallen Specialists in Mumbai)
Sri Lotus Developers and Realty Limited is a renowned developer of redevelopment in Mumbai with the mission to create luxury and ultra-luxury residential and commercial realm in the country since the establishment in February 2015. The company with its headquarters in Mumbai, Maharashtra is engaged in redevelopment projects in the western suburbs so as to meet the emerging need of the urban population in the city in terms of quality living and office space.
In November 30, 2024 developing area under Sri Lotus Developers has approximately 0.68million square feet of developing area inclusive of both residential and commercial real estate development projects.
Property types and Business Focus
The portfolio of the entity comprises:
Luxury Residential Segment:
- Construction of 2b and 2b+ a few bhk apartments in the luxury segment in Mumbai in the range of 3-7 crores.
- Specialized in contemporary buildings, luxury facilities and desirable sites.
Luxury Residential Ultra-Luxury Segment:
- Deveopments of 3bhk, 4BHK and 4+ BHK penthouses and ultra luxury flats which are above 7 crores.
- These are aimed at upmarket consumers who will want to live in a luxurious environment.
Commercial Real Estate Segment:
- Formation of high-end business offices in Western suburbs of Mumbai.
- It was meant to target the corporates, the startups as well as retail enterprises that require upscale commercial real estate.
Expected Issue Size: โน792 crore
GNG Electronics IPO โ Power Sector Play
Industry: Electronics EquipmentGNG Electronics Limited:- Buy back programs, E-Waste, and Refurbished ICT Devices
Established in 2006, GNG Electronics Limited is one of the major players in provision of refurbished laptops, desktop computer systems and ICT (Information and Communication Technology) appliances in the Indian and other markets in USA, Europe, Africa, and UAE. It runs its flagship store, Electronics Bazaar, that provides an entire ecosystem (including device sourcing, refurbishment and sale as well as the after sales services and warranty cover).
Key Offerings:
- End-to-End Refurbished ICT Device Solutions: Supporting customers by means of end-to-end source, refurbish, resale of ICT device solutions and after sales services across a single brand.
- IT Asset Disposition (ITAD) and E-Waste Management Services: Helping firms recycle their used IT assets in an environmentally-friendly way.
- Warranty and Services Module: This module will consist of door-step service, on site-installation, extended payment plans, easy device upgrade and buy back programs of refurbished laptops and desktops.
- Personalized Buyback Services: GNG Electronics collaborates with the biggest retailers like Vijay Sales (India) Private Limited and OEM brands across the world, such as HP India Sales Private Limited and Lenovo Global Technology (India) Private Limited, to provide the customer-friendly buyback process of laptops and desktops.
By the end of September 2024, GNG Electronics will have a comprehensive sales and service network spread across more than 3,265 touch points in India and 35 countries of the world, which is why it is considered to be one of the most well-connected refurbished electronics companies in the world.
Expected Issue Size: Fresh - 450 Cr +
OFS - 51,00,000 Shares
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