From CarDekho to Zepto: India's growing startup IPO pipeline

India's startup IPO pipeline is gathering momentum, with a number of new-age companies advancing towards their public market debuts. CarDekho and InsuranceDekho may soon the queue soon, while companies across quick commerce, manufacturing, fintech, hospitality, logistics, and consumer technology are also progressing with their listing plans.

Some have filed draft papers, others have secured regulatory approvals, while a few continue to prepare for their public issue. Here are some of the major ones.

1. CarDekho:


Online auto marketplace CarDekho is preparing to file draft papers for a Rs 3,000-3,500 crore public issue during the July-September quarter, ET reported had on July 9. The proposed offering is expected to comprise a mix of fresh equity and offers for sale.

2. InsuranceDekho:

Insurtech platform InsuranceDekho is also gearing up for a stock market debut, ET reported on July 14. The Gurgaon-based insurance distribution platform is targeting a listing by March 2027 and is eyeing a valuation of around Rs 9,500 crore, sources told us.

3. Zepto:

Quick commerce platform Zepto secured approval from the Securities and Exchange Board of India (Sebi) for its proposed IPO in April. ET reported on June 9, that the company is expected to raise around Rs 8,000-9,000 crore, making it one of the largest technology offerings in the pipeline, and potentially the first standalone quick commerce company to list on Indian stock exchanges.

4. Zetwerk:

On July 10, ET reported that the manufacturing marketplace Zetwerk has also received Sebi approval for its proposed IPO. The company is expected to raise around Rs 5,000 crore through a combination of a fresh share issue and an offer for sale by existing shareholders.

5. PhonePe:

Fintech major PhonePe was among India's most closely watched IPO candidates. After completing its domicile shift to India, the Walmart-backed company was working towards a public listing. However, the company pushed its IPO timeline back amid valuation concerns, ET reported.

6. Oyo:

Hospitality company Oyo continues to remain in the IPO pipeline. Oyo's parent Prism, formerly known as Oravel Stays, filed its Updated Draft Red Herring Prospectus-I (UDRHP-I) with Sebi in June, for an IPO that will entirely comprise a fresh issue of shares worth up to Rs 6,650 crore, with no offer for sale component.