While preparing for 2025, the Indian stock market, like the rest of the world, is highly focused on the upcoming Mainboard IPO 2025. Investors are eager to know which opportunities offer high-growth potential. As the new year approaches, everyone wants to identify the new upcoming IPO’s to invest in.
Most reports focus only on IPO schedules and dates, ignoring critical details. This makes it hard to analyse business models, risks, and financials. Many investors struggle to pick the best IPO upcoming in the next month or in October 2025.
This article fills that gap by highlighting Mainboard IPO 2025 prospects like Jaro Institute, Groww, Solarworld Energy Solutions, Epack Prefab Technologies, and Anand Rathi Share & Stock Brokers. We explore their business models, financials, and risks to show why they have high-growth potential.
Why 2025 IPOs Matter for Investors → Why Mainboard IPO 2025 Matters for Investors
Strong Economic Backdrop
India, as per the Reserve Bank, is expected to expand by 6.5 per cent in the fiscal year 2025-26, positioning the nation among the fastest-growing economies in the world. A robust macroeconomic environment typically serves as an incubator for fresh public equity offerings.
Mature Domestic Investors
Records from SEBI reveal that domestic institutional investors presently account for 55 to 60 per cent of the anchor book subscription in initial public offerings. This development enhances market resilience and lessens the previous reliance on foreign institutional inflows.
Regulatory Reforms
The recent slate of SEBI initiatives—ranging from flexible minimum public float requirements to artificial intelligence-assisted document verification—streamlines the issuance process while elevating transparency. These adjustments are motivating both nascent and mature corporations to pursue public market listing.
Jaro Institute – Riding the Education & Upskilling Boom
Market Leadership in EdTech
Jaro Institute of Technology Management & Research has effectively defined its leadership role within the professional education arena. Through affiliations with 36 universities and the launch of 268 specialised programmes, the Institute emerges as the foremost forthcoming initial public offering (IPO) Mainboard IPO 2025 worthy of the education economy.
Hybrid Model Advantage
Jaro’s differentiated model tightly intertwines 22 physical hubs with a fully digital learning architecture, balancing operational scale and systematic stability. This hybrid configuration generates recurring revenue streams and cultivates geographic agnosticism, thus outperforming models that rely exclusively on digital content.
Strong Financials
Preliminary FY25 metrics highlight a Return on Equity of 35.76% alongside a conservative Debt-to-Equity ratio of 0.30. Such strong financial underpinnings position Jaro Institute as one of the most credible candidates in the imminent IPO landscape.
Solarworld Energy Solutions – Powering India’s Green Future
Dual Business Model
SolarWorld transcends the conventional role of an EPC contractor by deploying both the traditional CAPEX framework and an innovative RESCO structure. Under CAPEX, the firm develops solar assets on behalf of end users, while RESCO retains title and operational responsibility, thereby securing extended, indexed income streams through power purchase agreements.
Financial Growth Story
SolarWorld brackets FY25 with a 9% sales uptick coupled with a 49% surge in profit-after-tax. The firm has yielded an ROCE of 54.53%, thereby situating itself as a mid-cap reference point for the market and attracting pre-IPO scrutiny ahead of its October 2025 listing.
Key Risks & Challenges
- Concentration on a sole offtake in Uttar Pradesh, heightening single-client exposure.
- Earnings susceptibility to prospective state and national solar tariff and incentive revisions.
- Geographic project clustering, rendering the firm vulnerable to region-specific economic shocks.
Epack Prefab Technologies – Infrastructure Growth Play
Dual Revenue Streams
Epack Prefab Technologies operates with two separate businesses, which are the pre-engineered steel buildings and EPS packaging. Having operations in both lines of business protects Epack from slowdowns in a specific sector in a particular region or country.
Fastest Growing Player
The company managed to achieve 41.8% CAGR, one of the primary reasons the company was awarded and recognised as the best in its category for an IPO investment during FY22–FY24. Their strategy, where the company provides value from the design stage to the complete installation stage, provides significant additional value to the company.
Why Investors Should Watch Epack
- Construction of a new manufacturing facility in Rajasthan is in the works.
- Increment in investment to enhance capacity at the Andhra Pradesh unit.
- Strategic focus towards capturing the Indian infrastructure market, which is growing rapidly.
Anand Rathi & Groww – Traditional vs. Disruptive Finance
Anand Rathi: Hybrid Financial Model
Anand Rathi is deep-rooted offline, with 90 branches and 1,123 authorised personnel across 333 cities. At the same time, it is further growing online, making it a contender for the best IPOs expected next month.
Groww: India’s Largest Stockbroker
Groww changed the market with zero additional fees for trading. As of FY25, it has the most active clients of any stockbroker in India and is therefore poised for one of the new IPO’s in October 2025, commanding significant investor attention.
Key Insights for Investors
- Anand Rathi is exposed to competition risk from firms with a digital-first approach.
- Groww carries execution risk associated with new products like margin trading.
- Both symbolise the deepening of India’s finance— a juxtaposition of traditional prowess and digital disruption.
Pros & Cons of Upcoming IPOs 2025 → Pros & Cons of Mainboard IPO 2025
| Company | Pros | Cons |
| Jaro Institute | Strong ROE, hybrid model, market leadership | High competition in EdTech |
| Solarworld | Dual model, recurring revenue, high PAT growth | Customer concentration, policy risk |
| Epack Prefab | Diversified business, fastest growth, infra exposure | Capital-intensive expansion |
| Anand Rathi | Strong offline + digital reach, stable profits | Competition from discount brokers like Zerodha, Groww |
| Groww | Largest stockbroker, disruptive model, new-age investor appeal | High payouts to founders, execution risks |
Comparison Table – Financial Performance FY25
| Company | Sector | Revenue FY25 (₹ Mn) | PAT FY25 (₹ Mn) | ROE (%) | Debt/Equity |
| Jaro Institute | Education | 2,540.2 | 516.7 | 35.76% | 0.30 |
| Solarworld | Energy | 5,510.9 | 770.5 | 23.12% | 0.37 |
| Epack Prefab | Infrastructure | 11,404.9 | 593.2 | 22.69% | 0.15 |
| Anand Rathi | Financials | 8,456.98 | 1,036.06 | 23.12% | 1.80 |
Conclusion
The 5 Mainboard IPO 2025 tell another part of India’s growth story. Groww is a digital disruption. SolarWorld is green energy. Jaro is a professional. The fundamentals are all insurmountable strengths and have calculated strategies. Each IPO has its opportunities and risks.
The main principle is not to just chase the hype. There are financial ratios, business models, and risks to analyse and weigh before deciding the best upcoming IPO to invest. Conducting accurate, diligent work is imperative.
With India’s continuous economic growth and the impending reforms by SEBI, 2025 might be the most favourable yet for the IPO market. The investments and actions taken from this moment should be based on insights from data trends. This is a reminder to remain aware and monitor the upcoming mainboard IPO 2025 opportunities.
FAQs
What is the best upcoming IPO in October 2025 on the NSE?
The most awaited listings include Solarworld Energy Solutions and Epack Prefab Technologies, both riding strong sectoral trends.
Which new IPO in the market has the highest growth potential?
Groww is seen as the most disruptive, while Anand Rathi offers stability with its hybrid model.
What is the new IPO listing trend in 2025?
Out of 46 IPOs so far, 32 have listed at a premium, showing strong investor sentiment (Source: NSE).
What is the best IPO investment strategy in 2025?
Focus on companies with low debt, high ROE, and sectoral leadership. Avoid those relying heavily on one customer.
Where can I find the updated Mainboard IPO 2025 India list?
The top contenders for IPO Updates 2025 are SEBI files, the IPO calendar of the NSE, and advanced reports and analytics on Moneycontrol.
Disclaimer
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I am a stock market and finance researcher with a strong interest in Indian equities. focuses on analyzing penny stocks, multibagger opportunities, and market trends to provide simple and practical insights for investors. Through my research, My aims to help readers understand the stock market better and make informed financial decisions.
