December 2025 upcoming IPOs set to break records with over ₹30,000 Crore offerings 

India’s primary market is gearing up for one of its busiest Decembers ever, as high-value IPOs collectively worth over ₹30,000 crore are expected to hit the market. Several companies across sectors like asset management, e-commerce, renewable energy, and dairy are set to launch their initial public offerings. This month will provide investors with better opportunities to invest in India’s booming equity market. 

Record-breaking IPOs in December 2025 

Key launches in December include ICICI Prudential Asset Management Company (AMC), Meesho, Clean Max Enviro Energy Solutions, Milky Mist Dairy, and Fractal Analytics. According to media reports, the cumulative size of these IPOs is set to surpass ₹30,000 crore, which may break last year's record collections. 

Leading the pack is ICICI Prudential AMC which is expected to be a major milestone for India’s mutual fund industry. It can be one of biggest IPOs with ₹10,000 crore offer, entirely through an Offer for Sale (OFS). Meesho’s IPO, with a focused ₹5,421 crore issue size including a fresh issue of ₹4,250 crore, will also be launched in December. Clean Max’s ₹5,200 crore IPO will be one of the biggest in the renewable energy sector.​ 

Sector-wise highlights of December IPOs 

• Financial Services & Asset Management: ICICI Prudential AMC is India’s largest mutual fund manager with assets exceeding ₹9.44 lakh crore. Its IPO, largely an OFS by Prudential Corporation Holdings, aims to increase public ownership while setting a precedent for asset management listings in India.​ 

• E-commerce & Technology: Meesho continues to make waves in social commerce with its IPO targeting a post-money valuation of around ₹52,500 crore. Its fresh issue is meant to fund growth, technology upgrades, and market expansion.​ 

• Renewable Energy: Clean Max Enviro Energy Solutions, a leading player in commercial and industrial renewable energy solutions, is set to raise ₹5,200 crore. The fresh capital focuses on capacity expansion and debt reduction to meet increasing clean energy demand.​ 

• Dairy & FMCG: Milky Mist Dairy Food plans a ₹2,035 crore IPO with a balanced mix of fresh issuance and OFS. This highlights the growing investor interest in food processing and dairy sectors driven by rising consumption trends.​ 

• Data Analytics & Artificial Intelligence: Fractal Analytics, targeting ₹4,900 crore, represents the booming AI and analytics niche. The company's fresh equity issuance aims to boost technology investments and market penetration.​ 

Despite a mixed secondary market, the primary IPO market has remained vibrant throughout 2025 with over 90 firms raising approximately ₹1.53 lakh crore so far. IPO listings this year have seen varied performance with around 31 debutants posting modest gains of 1-10%, and a few delivering substantial listing gains above 50%.  

How to apply for December IPOs through m.Stock 

1. Open free Demat account on m.Stock  

2. Log in to your m.Stock account via the m.Stock app or website. 

3. Find the IPO section. This is available either from the menu page or on the m.Stock homepage under the ‘Diversify your investment’ section. 

4. Select the IPO you wish to apply for from the list of ongoing IPOs. 

5. Enter your bid details by specifying the number of shares you want to apply for and your bid price. 

6. Review the application details and proceed to the payment section. 

7. The best way to apply for an IPO is via UPI id. The process can be completed within minutes with minimal formalities.  

8. Enter your UPI ID and a One-Time Password (OTP) if prompted. 

9. Approve the payment mandate in your UPI app. You must complete this step before the deadline to submit your application successfully.  

December upcoming IPO dates  

• ICICI Prudential AMC: IPO expected to open in second half of December 2025 (dates to be confirmed). 

• Meesho: 3^rd December to 5^th December 2025, with listing expected by 10^th December. 

• Clean Max Enviro Energy Solutions: Regulatory approvals completed; issue expected by end of December. 

• Milky Mist Dairy Food: Planned for December launch, exact dates are yet to be announced.