Hidden Gems and Major Players, Not Yet Launched
The 2025 IPO market is thriving, with 141 U.S. IPOs launched by early June, an 85.5% surge from 2024, despite tariff concerns and market volatility. For investors like me—balancing stability with growth—both high-profile and under-the-radar IPOs offer compelling opportunities. Below, I’ve blended the best of both worlds, selecting three IPOs that haven’t launched in 2025 yet, combining major players and hidden gems ideal for smart investors. These include expected opening prices per share and debut dates, drawn from my perspective and recent market insights.
- Databricks
- Why It’s Conservative and a Standout:
Databricks, a cloud-based data and AI platform, aligns with conservative principles through its focus on empowering businesses with cutting-edge technology without reliance on government subsidies. Its support for industries like energy and manufacturing, often prioritized by conservative policies, reflects a commitment to market-driven economic growth. As a major player with a $62 billion valuation, it’s accessible to all investors but remains a gem due to its broad enterprise appeal and potential to disrupt without overregulation. - Business Case:
Databricks raised $10 billion in early 2025, boosting its valuation and positioning it for a blockbuster IPO. Its platform, used by clients like Comcast and Shell, drives $2.5 billion in annual recurring revenue with 50% year-over-year growth. Acquisitions like MosaicML bolster its generative AI capabilities, making it a leader in data analytics. CEO Ali Ghodsi has signaled a potential IPO by late 2025, possibly accelerated by favorable market conditions, as noted in web sources. - Expected Opening Price and Date:
Analysts estimate an opening price of $50–$60 per share, based on its valuation and comparable tech IPOs. The IPO is projected for Q4 2025, likely November, if market stability holds. - My Take:
Databricks’ enterprise-focused innovation and avoidance of heavy regulatory dependence make it a conservative-friendly powerhouse. Its scale offers stability for smaller investors, while its growth potential makes it a must-watch.
- Ather Energy (U.S. Listing Potential)
- Why It’s Conservative and a Hidden Gem:
Ather Energy, an Indian electric two-wheeler (E2W) manufacturer, embodies conservative values through its private-sector-led innovation in transportation, a sector vital for economic mobility. Its potential U.S. IPO, hinted at in sources like Kotak Securities, is a hidden gem for smaller investors due to its estimated $1–$2 billion valuation and focus on affordable, practical electric scooters. This aligns with conservative priorities for market-driven solutions over government-mandated green initiatives. - Business Case:
Ather reported a 120% revenue increase to ₹4,454 crore ($530 million) in FY24, dominating India’s E2W market. A U.S. listing could tap into demand for sustainable transport, appealing to cost-conscious consumers. Small-cap IPOs like Ather offer high growth potential with less institutional competition, as noted by Mirae Asset Sharekhan, making it ideal for retail investors seeking early entry. - Expected Opening Price and Date:
A U.S. IPO could price shares at $8–$12, based on its projected $1.5 billion valuation and comparable EV IPOs. The IPO is expected in Q4 2025, likely December, following its Indian filing by April 2025. - My Take:
Ather’s practical EV focus and small-cap status make it a conservative-friendly hidden gem. Smaller investors can benefit from its niche market and global ambitions, but its speculative U.S. listing warrants caution.
- Medline Industries
- Why It’s Conservative and a Standout:
Medline Industries, a medical supply chain giant, resonates with conservative values through its critical role in healthcare infrastructure, a stable sector often emphasized for its societal importance. Backed by private equity firms like Blackstone, Medline’s IPO reflects a free-market approach to capitalizing on healthcare demand without heavy reliance on government programs. Its $50 billion valuation makes it a major player, but its defensive nature appeals to smaller investors seeking stability. - Business Case:
Medline generates $21 billion in annual revenue, supplying hospitals globally. Its IPO, backed by Blackstone, Carlyle, and Hellman & Friedman, is set to capitalize on healthcare’s resilience amid economic uncertainties like tariffs. Web sources suggest a $50 billion valuation, positioning it as one of 2025’s largest IPOs. Its broad market reach and essential services make it a low-volatility option compared to tech-heavy IPOs. - Expected Opening Price and Date:
Based on its valuation and comparable healthcare IPOs, Medline’s opening price is estimated at $40–$50 per share. The IPO is projected for Q3 2025, likely September, to leverage mid-year market momentum. - My Take:
Medline’s stability and private equity backing make it a conservative cornerstone. Its accessibility to smaller investors, combined with its essential role in healthcare, offers a balance of safety and growth.
Final Thoughts
For conservative investors like me, Databricks, Ather Energy, and Medline Industries represent the best of 2025’s unlaunched IPOs, blending major players with hidden gems. Databricks offers tech-driven growth, Ather provides small-cap upside in practical EVs, and Medline delivers healthcare stability. These align with conservative values like free-market innovation and economic resilience. However, IPOs carry risks—market volatility, tariff impacts, and unconfirmed filings (especially for Ather’s U.S. listing) could affect performance. I recommend allocating no more than 5–10% of a portfolio to these high-growth bets, as advised by Kiplinger, and verifying filings on SEC or exchange websites. These IPOs could shape the conservative investment landscape in 2025 for both small and large investors.
