From Unicorn to Public Company: How India’s Record IPO Wave is Reshaping the Startup Ecosystem
2025 will be remembered as the watershed year when India’s startup ecosystem truly went public. Moving beyond a handful of pioneering listings, a tsunami of new-age tech companies has stormed the public markets, with over 20 major startups actively preparing listings that could raise a combined $6-8 billion. This isn’t just a financial event; it’s a systemic transformation. It signals a profound maturation where liquidity is now a reality, confidence is institutionalized, and the public market exit has become the preferred—and celebrated—culmination of the startup journey. With a record 42 listings unlocking $19 billion+ in 2025 alone, the era of the Indian “startup IPO” has decisively arrived.
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