India is experiencing a surge in tech startup IPOs, bucking the global trend of declining public listings. Over 20 startups are preparing to go public in 2025, including Inframarket, Zetwerk, CaptainFresh, UrbanCompany, Bluestone, OneAssist, and Magicpin.
This wave follows a successful year for Indian tech IPOs, with 12 startups already listed in 2024. This growth contrasts sharply with the stagnant or declining tech IPO markets in the US, China, Europe, and the UK. See how other regions are faring.
Several factors contribute to India's IPO success, including macroeconomic growth, increased domestic capital, and political stability. The growth in India's capital markets, with market capitalization doubling and daily liquidity tripling since 2019, has created a favorable environment for public listings. Learn more about market trends.
The surge in IPOs also comes amid a slowdown in private market dealmaking, which has pushed startups to improve their financial performance and accelerate their IPO readiness. Among the companies preparing to list are Zepto, TableSpace, PayU, Pharmeasy, and MobiKwik.
Swiggy's recent $1.35 billion IPO is the largest global tech IPO of 2024, highlighting India's growing prominence in the tech IPO landscape. Experts believe India's strong capital markets and thriving innovation ecosystem are attracting significant investor interest. Explore the competitive landscape.
With tech and healthcare companies currently underrepresented in India's benchmark Nifty 50 index compared to the S&P 500, there's significant potential for further growth in the Indian tech IPO market.