As the capital markets gain momentum after a slower midyear stretch, Upcoming IPO in October 2025 is shaping up as a pivotal month for equity listings in India. Several marquee issuers and a strong pipeline of SME / mid-cap companies are expected to test the appetite of institutional and retail investors alike. While some giants are gearing up for bold entries, the real story may lie in how smaller players perform under market scrutiny.
The Broad Landscape: Momentum, Optimism & Caution
India’s Upcoming IPO in October 2025 IPO market has already surprised many in 2025 with its resilience. JPMorgan projects that India may surpass its 2024 IPO totals, driven by improved regulatory clarity, healthy valuations, and renewed investor confidence. Reuters
Still, macro risks linger—global rate movements, inflation, policy shifts, and currency volatility could all influence how well IPOs fare. In this environment, issuers and underwriters will be forced to find the right balance between ambition and realism.
For October, the IPO pipeline reflects that balance: bold bets from large corporates, as well as a slew of smaller firms aiming for gains in niche sectors. Let’s look at who’s in the mix.
What’s on Deck: Key IPOs for Upcoming IPO in October 2025
1. LG Electronics (India arm) — The Big Bet
The standout among October’s IPOs is LG Electronics’ proposed listing of its Indian subsidiary. Sources suggest an ambitious target of ₹15,000 crore, making it likely the largest IPO in India in 2025.
This move marks a strategic shift: LG is leaning into India’s growth potential in consumer electronics, appliances, and related segments. Given the scale, institutional interest will be critical—not just in anchoring the issue but in sustaining demand across subscription windows.
For investors, key parameters will include valuation multiples, margin projections, competitive intensity, and LG India’s market positioning. If LG can execute and deliver strong listing day performance, it may pave the way for more parent-company and multinational spin-offs to debut in India.
2. Glottis
A more modest but notable name, Glottis is a logistics company that plans to open its IPO from 29 September to 1 October 2025. The Economic Times The price band is fixed at ₹120 to ₹129 per share. If the upper end is accepted, the company’s post-issue valuation would be around ₹1,192 crore. The Economic Times
While Glottis may not command the headlines of LG, its listing lies at the intersection of India’s growing logistics demand, rising e-commerce, and supply chain optimization trends. For smaller investors, this is the kind of mid-cap bet that can yield substantial upside if fundamentals and execution align.
3. Advance Agrolife
While its subscription window straddles the end of September and early October—30 September to 3 October—Advance Agrolife must be included in the October pipeline. Its price band is ₹95 to ₹100, with a gross issue size of roughly ₹193 crore.
Operating in the agrochemicals space, Advance Agrolife faces both opportunity and challenge: demand for crop protection, innovation in fertilizers/pesticides, and regulatory or environmental pressure. For investors, the key will be whether the company’s growth assumptions hold up in volatile agricultural cycles.
4. Om Freight Forwarders
Another IPO with a late-September to early-October window, Om Freight Forwarders proposes a price band of ₹128 to ₹135. While the issue size is relatively modest, the listing will test investor interest in niche logistics and freight services firms.
5. Fabtech Technologies
Fabtech opens 29 September and closes 1 October, with a price band of ₹181 to ₹191. It’s a more ambitious mid-cap across manufacturing / industrial engineering domains. Its performance will be a litmus test of how investors respond to industrial names in uncertain times.
Strategic Themes & Investor Angles
Sector Play & Tailwinds
- Consumer & Electronics: LG’s listing is a clear bet on India’s rising consumer spend and gadget penetration.
- Logistics / Supply Chain: Glottis and Om Freight reflect the broader push for supply chain resilience and last-mile optimization.
- Agrochemicals & Inputs: Advance Agrolife appeals to agriculture’s pulse, though volatile commodity cycles will test assumptions.
- Industrial Engineering: Fabtech’s success depends on order inflows, capital expenditure cycles, and export potential.
Pricing Discipline & Anchor Support
Given current sensitivity around valuations, issuers must strike a delicate balance: too aggressive, and subscription windows may slam; too conservative, and upside is capped. The presence of anchor or cornerstone investors will act as a confidence booster. With LG Electronics in play, the stakes are higher—institutions will scrutinize every financial metric.
Retail vs Institutional Sentiment
Smaller IPOs (Glottis, Advance Agrolife, Om Freight) will test retail demand more directly. Their subscription patterns may signal how confident smaller participants are in 2025’s equity rally. For LG and any future large IPOs, institutional bookbuilding momentum will set the tone.
Market Windows & Timing
Some of these IPOs begin in late September but overlap into October, creating a congested IPO calendar. Timing is crucial: issuers will want to avoid clashes with macro announcements, budget sessions, regulatory updates, or global shock events. The sequencing of listing dates, refund dates, and allotment windows must be clearly communicated to avoid investor fatigue.
Risks & Headwinds
- Volatility: A global policy pivot or sudden macro shock could derail demand, particularly for new listings.
- Overscheduling: If too many IPOs crowd the market, some might struggle to find traction.
- Execution Gaps: Private companies may not be battle-tested under public scrutiny—governance, forecasting, reporting are all under the spotlight post-listing.
- Regulatory / Policy Shocks: Any surprise from SEBI, taxation rules, cross-border capital flows, or trade policy could rattle investor confidence.
Outlook and What to Watch
If LG’s Upcoming IPO in October 2025 sails through with strong demand and a solid listing, it could change the narrative. That success might encourage other conglomerates or foreign parent companies to consider listing their India operations. But even if LG stumbles, smaller IPOs will still carry stories worth watching—Glottis, Advance Agrolife, Om Freight, and Fabtech will all provide lessons in investor psyche, valuation tolerance, and execution discipline.
For journalists, the angles worth following include:
- Anchor / cornerstone allotments and how much is reserved for them.
- Subscription ratios across retail, non-institutional, and institutional segments.
- Grey market premiums ( IPO GMP ) before listing as a sentiment gauge.
- Day-one listing performance relative to IPO pricing.
- Post-listing volatility and how quickly companies deliver on promised growth.
