The Indian startup ecosystem is on the brink of an IPO wave in 2025. It is to set the stage for another milestone year. The performance in 2024 was strong equipped with 13 new-age tech startups collectively raising more than ₹29,000 crore. At least 23 startups are gearing up for public listings in 2025 and they are projected to collectively raise ₹55,000 crore.
The 2024 elections played an important role in shaping the IPO calendar. Many startups waited for the post-election clarity to make their move. No such major political events are expected to influence the timeline in 2025. However, macroeconomic uncertainties including GDP fluctuations could inject some volatility into the market. However, the equity market of India remains strong and has outperformed global counterparts in recent quarters. Experts predict that the bullish momentum is to continue and the total public offering values potentially is to cross $20 billion, surpassing 2024’s record of $16 billion.
The trend is about numbers and also signals a shift in the types of companies entering the public market. There is also a noticeable rise in tech-enabled startups seeking to list alongside pure-play tech companies.
The rise of coworking space IPOs is another intriguing trend. Startups in the sector are set to capitalize on a booming commercial real estate market with increasing demand for flexible workspace. However, success will hinge on financial health, profitability and resilience.
The Indian IPO market will test the resilience of startups and also the confidence of domestic as well as international investors as 2025 unfolds. The year ahead holds promise, but it will demand a careful balance of ambition, strategy and market realities.
