Indian startups fast-tracked their listing journey in 2025 as ecosystem matures
According to a report by VC firm Orios Venture Partners, Indian startups are reaching IPO-ready stages in increasingly shorter spans as the online ecosystem matures and consumer demand in marketplaces rises.
The Indian startup ecosystem saw heightened listing activity in 2025 with companies like Urban Company, Meesho, and Groww ringing the bell on the Dalal Street. A deeper dive into the timelines of these companies show that Indian startups are becoming IPO-ready sooner than before.
According to a report by Orios Venture Partners on India Tech Unicorns & Exits: 2025, the 20 startups that listed during the year managed to do so in 13.3 years. This is slightly lower than the 13.4 years it took for companies to go public in 2024.
While 2023 saw companies like Mamaearth and Yatra hit the public bourses within 12.5 years, in 2022 and 2021, companies took around 16 years to reach this milestone.
The report also notes that in 2025, India led the global IPO market with 254 companies going public. In terms of IPO value, India commands $11.8 billion in value, only behind US, China, and Hong Kong.
This fast-tracked timeline towards listing marks a clear shift from companies from pioneer firms like Flipkart that had to build out its entire online ecosystem from scratch, spanning consumer and seller education to payments, and logistics.
Startups that have come up in recent years have been able to tap into this ecosystem with ease, building innovative products from available technology and for a ready customer base through marketplaces, the report said.
As exit opportunities via IPOs saw 50% increase when compared to 2024, exit activity from acquisitions rose 71%, the report noted. Last year saw major acquisitions including Hindustan Unilever’s $350 million acquisition of beauty brand Minimalist and ChrysCapital’s $280 million deal to buy a majority stake in bakery chain Theobroma.
Looking ahead, IPO pipeline for 2026 looks healthy with Shadowfax looking to list later this month and companies like Zepto, Rebel Foods, Flipkart, and PayU, among others in different stages of IPO readiness.