Indonesia’s Initial Public Offering (IPO) market in 2025 reflects a maturing capital market landscape. Instead of pursuing a high number of listings, the prevailing trend has shifted towards greater selectivity, emphasizing issuers with solid fundamentals, sustainable business models, and clear growth prospects. Companies going public this year tend to base their decisions on internal readiness, regulatory certainty, and the ability to build investor trust from the earliest stages of their offering.
The infrastructure sector has emerged as one of the key drivers, supported by the scale of national strategic projects spanning transportation, energy, and industrial zones. Companies in this sector attract investor interest due to their long-term revenue streams, strong government backing, and direct contribution to economic growth. The energy sector—particularly renewable energy—has also taken center stage as the country accelerates its clean energy transition. Businesses involved in green power generation, biomass processing, and renewable energy infrastructure development have positioned themselves as future-oriented investment choices.
Meanwhile, the consumer sector continues to deliver consistent appeal. Strong branding, broad customer bases, and adaptability to evolving shopping trends make consumer companies attractive to both institutional and retail investors. Strategies such as omnichannel distribution, product innovation, and regional expansion are proving critical for maintaining relevance. While not dominating the listings, technology and digital finance companies have also entered the market. Startups that have reached profitability or demonstrated resilient business models are gaining traction, as investors increasingly prioritize proven growth potential in competitive, fast-changing industries.
Positive sentiment in Indonesia’s 2025 IPO market is further supported by macroeconomic stability and expectations of lower interest rates, creating a more favorable investment climate. Government policies that encourage fundraising through capital markets—including incentives for strategic companies to go public—are acting as strong catalysts. Both institutional and retail investors are now more critical when assessing IPO candidates, paying close attention to governance, sustainability, and expansion potential. This has prompted companies to focus not only on valuation but also on building a compelling, credible business narrative.
Looking ahead, sectors closely aligned with Indonesia’s long-term development agenda are expected to remain at the forefront of IPO activity. Infrastructure, energy, and consumer industries are likely to maintain their dominance, while technology and digital financial services could expand their share if they demonstrate consistent performance. With the market’s shift from quantity to quality, the IPO class of 2025 has the potential to produce issuers that deliver not only short-term trading excitement but also sustainable value creation for the economy and the capital market as a whole.
Are you preparing to take your company public or seeking clarity on regulatory compliance for your Board structure? At Schinder Law Firm, we specialize in guiding businesses through Indonesia’s complex IPO landscape. As one of the country’s top corporate law firms, we are trusted by industry leaders for our proven expertise, practical solutions, and commitment to client success. Let our dedicated team of corporate and civil law professionals help you navigate your IPO journey with confidence. Reach out today at info@schinderlawfirm.com to schedule a personalized consultation.
Author:
Dewi Susanti