Market meltdown may cut startup IPOs and valuations down to size
Subscribe to enjoy similar stories. Bengaluru: Indian startups planning to go public this year will likely have to review their issue sizes and valuations as US President Donald Trump’s decision to impose tariffs on various American imports has sent equity markets into a tailspin, several investment bankers told Mint. More than two dozen startups are likely to go public in the coming months.
These include potential billion-dollar issues by companies such as Groww, Lenskart and Zepto, and smaller ones by Ather Energy, BoAt, Bluestone, Captain Fresh, Fractal, Infra.market, Ofbusiness, PhysicsWallah, PayU, Pine Labs and others. Hexaware Technologies listed on the bourses on 12 February, while Tata Capital and HDB Financial Services are looking to list later this year. This is a significant increase from the 13 startups – including Swiggy, Ola Electric, FirstCry and Blackbuck – that went public last year.
With venture capital and private equity investment slowing down over the past few years, new-age companies are increasingly turning to the public markets for funding. Also read | Hexaware's IPO: A risky gamble in uncertain times The benchmark Nifty 50 is currently down 12.5% from its all-time high from last September amid heavy selling by foreign institutional investors (FIIs). Just a month and a half into 2025, FIIs have pulled out more than ₹88,139 crore from Indian equities.
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