Home improvement unicorn Livspace is all set to go public in 2026 as it plots its growth in the Indian market. The company is also looking to raise USD 100 million (~INR 854.76 crore) before the listing and has started the process of re-domiciling its headquarters from Singapore to India as Indian startups return home to tap into India’s growing startup ecosystem.
Livspace IPO Preparations & Corporate Realignment
Founded in 2014 by Anuj Srivastava and Ramakant Sharma, Livspace has grown exponentially and become a household name in the home interiors space in India and Singapore. The company is in talks with bankers and investors as part of its IPO process.
In a strategic leadership reshuffle announced on 07 February 2025, Anuj Srivastava transitioned to the role of Chairman of the Board, while co-founder and former COO Ramakant Sharma assumed the role of Chief Executive Officer (CEO). The move is part of Livspace’s broader IPO readiness strategy. Srivastava will now focus on IPO preparations, investor relations, and long-term strategic growth, while Sharma will lead daily operations and financial execution.
Livspace has also got in-principle approval to shift its domicile from Singapore to India. This is part of the ‘reverse flipping’ trend seen with companies like Groww, PhonePe, Zepto, Razorpay and Meesho among others.
Funding & Valuation
Livspace is reportedly mulling a USD 100 million (~INR 854.76 crore) equity placement ahead of its IPO, reaching out to private equity firms and family offices. But a company spokesperson said no pre-IPO round is in discussion.
The company had raised USD 180 million (~INR 1,538.56 crore) in February 2022 in its Series F round led by KKR & Co., taking its valuation past USD 1 billion (~INR 8,547.56 crore) and making it a unicorn. The company’s investors include global names like TPG, Ingka Group (IKEA’s parent), Jungle Ventures, Goldman Sachs and Bessemer Venture Partners.
Business Performance & Market Presence
Livspace has established a strong presence, having designed and renovated over 1 lakh homes across more than 85 cities in India and Singapore. Its integrated platform combines technology, design, and project execution to deliver a full-stack home interiors solution.
As of year ending 31 March 2024:
- Operating Revenue: INR 1,185 crore
- EBITDA Loss: INR 247 crore
- Net Loss (as per ET Now report): INR 414 crore, reduced from INR 763 crore in the previous fiscal.
Despite ongoing losses, the company has significantly narrowed its deficit and is targeting EBITDA profitability by FY25.
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Strategic Shifts & Brand Expansion
To enhance margins and sharpen its consumer focus, Livspace has exited low-margin commercial office projects and is instead focusing on high-value consumer-facing offerings. The company is also scouting for strategic consumer brand acquisitions to strengthen its ecosystem and broaden revenue streams.
Livspace operates under a portfolio of interior and decor brands including:
- Bello Select
- Vesta
- Vinciago
These brands cater to all kinds of consumers and budgets, making Livspace a full-stack home solutions provider.
Conclusion
Livspace’s IPO will be a big milestone for India’s startup ecosystem, especially in consumer services and home improvement space. With leadership realignment, strong investor backing and financial discipline, the company is looking to list by late 2025 or early 2026. As India’s capital markets mature and demand for organized home interiors grows, Livspace IPO could set the stage for more consumer tech and D2C startups to follow suit.
In the first three months of 2025, a total of 10 Mainboard IPOs were listed in the Indian markets. Notably, there were no IPO listings in March 2025. Collectively, these IPOs raised INR 15,983.05 crore. Hexaware Technologies was the biggest IPO in the last 3 months, which raised INR 8,750 crore. Out of the 10 IPOs, three delivered negative listing returns. Despite this, the average listing gain for the period stood at an impressive 17.53%. For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.