​Three Major Upcoming IPOs to Watch in India: Jayesh Logistics · Game Changers Texfab · Shreeji Global FMCG

As 2025 progresses, the Indian capital markets are once again gearing up for a wave of SME IPOs. For investors seeking fresh opportunities in relatively smaller yet promising companies, there are three upcoming IPOs that stand out: Jayesh Logistics Ltd, Game Changers Texfab Ltd and Shreeji Global FMCG Ltd. Each brings a different sector focus—logistics, textiles and FMCG—offering diversification potential. Below is a detailed look at all three, their business models, IPO details, and what investors should keep in mind.

1. Jayesh Logistics Ltd – Logistics Sector IPO
First, let’s look at Jayesh Logistics, a company bringing in a focused logistics-play to the SME IPO market.

Company background & sector play
Jayesh Logistics Ltd is based in Kolkata and operates in the logistics sector, offering cargo movement solutions across the Indo-Nepal corridor and Nepal hinterland. It is emerging as a specialist in intra-regional cross-border logistics and freight forwarding—a niche within the broader Indian logistics boom.

IPO details

• Opening date: 27 October 2025 (closes 29 October 2025) on the NSE-SME platform.
• Price band: ₹116 to ₹122 per share (face value ₹10) for the issue.
• Issue size: The IPO is set at approx ₹28.63 crore.
• Lot size: 1,000 shares (for retail) in this SME offering.
• Listing expected around 3 November 2025.

Why this IPO is interesting
The logistics sector in India is poised for growth given the government’s focus on infrastructure, connectivity and border-corridor trade (such as Indo‐Nepal). Jayesh’s niche in cross‐border logistics provides some differentiation. From an IPO perspective, the modest size and SME platform mean the risk–reward profile works differently from large marquee issues. For an investor looking at an upcoming logistics IPO in India, this is one to monitor.

Key risks/considerations

• Being SME scale, liquidity post-listing may be lower than mainboard stocks.
• Execution risk: growth depends on managing cross-border freight challenges and regulatory/trade corridor efficiencies.
• Valuation: at a band of ₹116-122, ensure you compare to peer SMEs in logistics when assessing pricing.

2. Game Changers Texfab Ltd – Textile / Fabric Sector IPO

Turning to textiles, Game Changers Texfab Ltd is launching its IPO soon and presents a fabric/textile industry investment theme.

Company & sector context
Game Changers Texfab Ltd is reportedly a firm in the textiles sector (fabric / wholesale / manufacturing) heading for a BSE-SME IPO. The textile industry in India has its share of ups/downs but remains a large economic segment with export potential and domestic demand.

IPO mechanics & details

• The IPO of Game Changers Texfab Ltd is a “100% fresh issue” of up to 53,76,000 equity shares.
• Price band: ₹96 to ₹102 per share (face value ₹10) as indicated in some brokerage notes.
• Listing platform: BSE-SME.
• Timeframe: The issue was expected around 28-30 October 2025 (per some sources).

Why this IPO might draw investor interest
With an IPO in textile, Game Changers Texfab offers investors exposure to the cyclical yet sizeable fabric supply chain. The fact it is a fresh issue (no offer for sale) means proceeds will presumably go back into growth or capacity expansion, which may support long-term value. Investors seeking diversification beyond tech or finance stocks might find this notable.

Risks to keep in mind

• Textile/wholesale businesses often face margin pressures from raw materials, competition and currency fluctuations.
• As with any SME IPO, liquidity and market visibility post-listing may be limited.
• The valuation relative to earnings and peers needs to be checked once full DRHP details are available.

3. Shreeji Global FMCG Ltd – FMCG Sector IPO

Finally, we turn to Shreeji Global FMCG Ltd, an upcoming IPO in the FMCG domain—a sector that typically gets strong investor traction due to stable demand.

Business profile & sector strength
Shreeji Global FMCG Ltd is engaged in spices and agricultural products, offering an FMCG play focused on consumer staples. The consumer goods/FMCG sector in India often offers a more stable revenue base, which many investors like ahead of an IPO.

IPO snapshot

• Opening date: 4 November 2025; closing date: 7 November 2025.
• Price band: ₹120 to ₹125 per share (face value ₹10).
• Platform: Appears to be listed on NSE-SME.
• Financials: Some recent revenue figures: in latest annuals revenue ~ ₹588.99 crores, profit after tax ~ ₹5.47 crores.

What makes this FMCG IPO compelling
The FMCG sector has inherent advantages: recurring demand, brand potential, distribution network benefits. For Shreeji Global, being in the spices/agri-FMCG niche means tapping into both rural and urban Indian demand. For investors seeking upcoming IPOs with consumer flavour, this stands out.

Important cautions

• Even within FMCG, competition is intense; brand and margin resilience matter.
• For SME listings of FMCG companies, scale and brand recognition might be lower than big listed peers.
• As always, the valuation at ₹120-125 needs to be justified by growth outlook, margin stability and distribution strength.

Comparative Take: Which IPO to Consider & How to Choose
When evaluating these three upcoming SME IPOs—Jayesh Logistics, Game Changers Texfab and Shreeji Global FMCG—investors should apply some common criteria:

• 1. Sector & Growth Potential – Logistics, textiles and FMCG each have different growth drivers. Logistics may benefit from infrastructure/exports; textiles from manufacturing/exports; FMCG from domestic consumption.
• 2. Valuation vs. peer & future growth – The price band matters. For example, Jayesh at ₹116-122, Texfab at ₹96-102, Shreeji at ₹120-125. Assess whether the company’s earnings, growth prospects and peer valuations justify the band.
• 3. Issue size & listing timing – Smaller SME IPOs often have less liquidity but potential for sharper gains if well-received. The timeline of listing (late October for the first two, early November for the third) also matters for investor planning.
• 4. Use of funds – Fresh issues (e.g., Game Changers Texfab) imply growth ambition; other issues may be for working capital, debt reduction etc. A good capital utilisation plan is a positive.
• 5. Post-listing liquidity & exit planning – SME platforms can have lower volumes, which may impact ability to exit quickly.
• 6. Risk vs reward – SME IPOs can be higher risk (scale, visibility, governance) but also can offer higher relative returns if they succeed.

Final Word & Suggested Strategy

For investors monitoring upcoming IPOs in India 2025, these three represent interesting choices:

• Jayesh Logistics Ltd offers a niche logistics bet in an underserved cross-border corridor. If you believe in logistics infrastructure growth and are comfortable with SME dynamics, this could be a pick.
• Game Changers Texfab Ltd gives exposure to the textiles/fabric chain. It may suit those looking for manufacturing-oriented IPOs with a fresh issue structure.
• Shreeji Global FMCG Ltd is perhaps the more stable sector of the three (consumer goods). If you prefer a consumption-driven business with stability, this may be the option.

As always, before applying to any IPO, ensure you check the full DRHP/prospectus, understand promoter credentials, peer benchmarking, margin sustainability and post-listing risk. While the hype around upcoming SME IPOs is real, disciplined evaluation is crucial.

Key takeaway: Upcoming IPOs such as these offer potential early access to high-growth companies—but with SME-specific risks. Balance your portfolio: consider lot size, investment horizon (typically listing + short-term gains, or longer-term hold), and exit strategy.