Startup IPOs in India performed well in 2025. 18 new-age tech companies went public, compared to 13 in 2024 and just five in 2023. These IPOs collectively raised around ₹41,283 crore, driven by strong market conditions, high domestic liquidity, and investor confidence in tech-led businesses across fintech, e-commerce, coworking, EV, and SaaS sectors. Big names like Urban Company and Grow led the way, making 2025 a landmark year for startup listings.

Coworking, fintech, and e-commerce startups dominated the IPO landscape. Coworking players DevX, Indicube, SmartWorks and WeWork India listed on the stock market, with SmartWorks receiving a relatively good investor response. In fintech, Grow and Pine Labs saw strong demand, while e-commerce companies like Meesho, Lenskart and ArisInfra went public, with Meesho emerging as one of the top performers with a strong listing premium.

A key trend in 2025 was the rise of offer-for-sale (OFS) elements, which allowed early investors and founders to monetize shares. Looking ahead, the IPO momentum is expected to continue in 2026 with companies like PhonePe, Septo, Shiprocket, and Snapdeal parent Acevector coming in the pipeline, although investors are likely to be more selective and focus strongly on profitability, scale, and disciplined growth.