The year 2024 was remarkable for Indian startups and basically the good going was equipped with several young companies emerging with IPOs despite lingering effects of a funding winter. The private markets were challenging, but the public markets unfolded a different story as startups embraced it and captured attention of investors.
Some companies had been waiting to list since 2021, but they took the bold steps this year to attract public interest. They managed to appeal to a wider audience by cutting valuations and downsizing their IPOs. The strong performances of earlier IPOs like Zomato and RateGain also played a key role in building investor confidence.
More than 13 startups successfully went public this year and collectively raised over INR 29,000 Cr. The Swiggy IPO alone brought in INR 11,300 Cr and it was a part of a broader surge in IPO activity equipped with companies raising over INR 1.2 Lakh Cr in total.
The IPOs were not just about market milestones for venture capital and private equity firms. They were also opportunities to reap the rewards of early bets. Big names like Peak XV Partners, Accel and SoftBank used offers for sale to secure partial exits equipped with some reportedly earning returns as high as 30X.
The public listings are practically more than just financial events as they are also moments of validation for startups.
