The market is ending the year with a bang, or nothing. We’re looking at nearly ₹31,000 crore worth of public issues expected in December 2025. This isn’t just volume; this is Meesho, ICICI, and a huge green energy player hitting the bell.
The Current Mess
Here’s the kicker: November was mixed. Companies like Groww and Lenskart shot up—Groww almost 94% off its issue price. You also had PhysicsWallah listing at a hefty 33% premium, despite weak grey market premium (GMP). The money is there.
But traditional businesses like Studds and Orkla India? They’re trading below their issue price even with solid financials and great subscription numbers. The money is there, but the returns are an uneven rhythm. Investors need to be cautious.
The December Pipeline (The Big Bets)
The money is concentrated in a few massive issues. This is where the retail investor action will be focused.
ICICI Prudential AMC (Approx. ₹10,000 crore): This is a beast. One of the biggest AMCs in India, managing AUM of over ₹9.14 lakh crore. They are the market leader in equity schemes (13.4% share). SEBI approval is expected any minute. This is a stability play.
Meesho Ltd. (Approx. ₹6,000 crore): The e-commerce behemoth. Raising ₹6,000 crore, mostly fresh issue for $4,250$ crore, with existing VCs (Elevation, Peak XV) cashing out via the OFS. They are India’s largest e-commerce platform by annual transacting users. This is a volume play; they had $21.3$ crore transacting users in FY25. High-growth, high-risk.
Clean Max Enviro Energy (Approx. ₹5,200 crore): Brookfield-backed green energy. India’s largest C&I renewable energy provider. This is the pure-play ESG bet, blending clean energy with a huge size.
Fractal Analytics (Approx. ₹5,000 crore): Enterprise AI. They are profitable—₹220 crore net profit in FY25—and revenue grew $26\%$. This is the smart tech bet, helping global companies with AI and data.
Other Players: Hero FinCorp (NBFC, ₹3,668 crore), Milky Mist Dairy (Paneer market share leader, ₹2,035 crore). Plus, smaller issues like Corona Remedies and Skyways Air Services.
The market is not slowing down. It’s gearing up for a huge cash dump. Will these follow Groww’s insane listing or Orkla India’s quiet drop? The risk is real. The reward? Massive.
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