India’s booming startup ecosystem is preparing for a public market revival, with over ₹18,000 crore worth of IPOs lined up for launch in the coming months. At least a dozen high-growth tech startups, including Meesho and PhysicsWallah, are finalizing their filings, signaling strong investor interest and renewed confidence in the Indian capital markets.

IPO Wave Marks New Phase of Startup Maturity

After a period of caution following the volatility in tech IPOs globally, Indian startups are once again embracing public listings as a viable path to scale and liquidity. Companies like Meesho, India’s social commerce unicorn, and PhysicsWallah, the profitable edtech disruptor, are expected to be among the first movers in this ₹18,000 crore IPO pipeline.

Numerous companies have adopted more efficient management practices, enhanced profitability, and strengthened their financial standing. They are therefore more suitable for going public than early-stage IT IPOs in 2021–2022, according to industry watchers.

Startups Eyeing IPOs

Some of the notable startups reportedly preparing for IPOs include:

• Meesho – E-commerce platform targeting Tier‑2 and Tier‑3 cities, planning to raise approx. ₹4,000 crore.
• PhysicsWallah – Edtech firm with strong profitability metrics, may raise over ₹1,500 crore.
• Ola Electric – Recently filed DRHP, aiming for ₹5,500 crore IPO.
• FirstCry, Swiggy, and MobiKwik – Also rumored to be assessing listing opportunities.

These companies focus on consumer technology, e-commerce, education, transportation, and finance.   This variation shows how the startup scene in India has grown and become more diverse.

What’s Driving the IPO Momentum?

Several factors are driving the increase in IPO preparations:

• Improved market sentiment following stable macroeconomic indicators and a rising stock market.
• Stronger regulatory clarity around DRHP filings and governance norms for startups.
• Growing institutional and retail investor appetite for homegrown tech companies with clear paths to profitability.

Startups are also increasingly viewing IPOs as brand-building and trust-enhancing events, especially in consumer-facing sectors.

Indian entrepreneurs’ ₹18,000 crore IPO wave is a symbol of ecosystem change as much as a fundraising event. The way these companies function will affect how the next generation of Indian founders, investors, and regulators perceive innovation, growth, and accountability when they come under public scrutiny.

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