If 2025 was the year India’s startup IPO story got its swagger back, 2026 is shaping up as the year that story gets edited by the public markets.
In 2025, 18 startup IPOs raised ~INR 41,250 Cr in aggregate. And the queue for Startups eyeing IPOs in 2026 is longer—20 startups have filed DRHPs and another 24 are in active preparation for an eventual listing. These 44 Startup IPOs are expected to raise around INR 70,000 crore from the primary market.
But the timing is what makes 2026 especially interesting. The startup IPO pipeline in 2026 is colliding with three very current macro threads:
- The US–India trade deal (tariffs reduced to 18%) has instantly improved the tone for globally linked businesses and exporters.
- The European Commission–India FTA has been concluded, with both sides pitching it as a large tariff-cutting, market-opening agreement with medium-term growth implications.
- Budget 2026 is explicitly trying to push competitiveness and manufacturing breadth (and contains tax proposals that matter for capital allocation decisions).
Startup IPOs 2026: Four Sectors to Watch
- Fintech: The biggest test will be governance and risk discipline. Public investors will reward credit quality, compliance strength, and sustainable unit economics — not growth fuelled by discounts or incentives.
- Deeptech: With the US–India and EU–India trade deals boosting export potential, startups in AI, imaging, and advanced manufacturing will see stronger valuation premiums for defensible IP and global scalability.
- D2C & Consumer Brands: Profitability and brand loyalty will separate winners from trend-driven players. Investors will prize efficient customer acquisition and repeat purchase metrics.
- SaaS & Digital Infrastructure: Global SaaS and data platform players with recurring revenue, high retention, and capital-light growth models are poised to command strong multiples.
Full List of Top Startups Eyeing IPOs in 2026
Below is the pipeline of Startup IPOs in 2026:
| Name | Sector | Total Funding (USD) | DRHP Status | IPO Size (INR) |
| AceVector | Ecommerce | – | Filed | 300 Cr (Fresh)+ 6.38 Cr shares (OFS) |
| AVPL International | Deeptech | – | Confidential Filing | NA |
| Aye Finance | Fintech | 485M | Filed | 1,000 Cr (Fresh +OFS) |
| boAt | D2C | 177M | Filed | 1,500 Cr (Fresh +OFS) |
| Curefoods | Foodtech | 175M | Filed | 800 Cr (Fresh)+ 4.85 Cr Shares (OFS) |
| InCred | Fintech | 318M | Confidential Filing | NA |
| Infra.Market | Ecommerce | 415M | Confidential Filing | NA |
| Kissht | Fintech | 140M | Filed | 1,000 Cr (Fresh) + 88.79 Cr Shares (OFS) |
| Leap India | Logistics | 184M | Filed | 2,400 Cr (Fresh + OFS) |
| OYO (PRISM) | Travel Tech | 3.47B | Confidential Filing | NA |
| PhonePe | Fintech | 2.29B | Filed | 5.07 Cr shares (OFS) |
| Purple Style Labs | D2C | 78M | Filed | 660 Cr (Fresh) |
| SEDEMAC | Deeptech | 107M | Filed | 80.43 Lakh Shares (OFS) |
| Shiprocket | Logistics | 323M | Filed | 2,342 Cr (Fresh + OFS) |
| Tonbo Imaging | Deeptech | 59M | Filed | 1.81 Cr shares (OFS) |
| Travelstack Tech | Travel Tech | NA | Filed | 250 Cr (Fresh) + 2.69 Cr Shares (OFS) |
| Turtlemint | Fintech | 197M | Filed | 660 Cr (Fresh) + 2.86 Cr shares (OFS) |
| Fractal | SaaS | 685M | Filed | 2,834 Cr (Fresh + OFS) |
| Zepto | Quick Commerce | 1.60B | Confidential Filing | 11,682 Cr |
| Captain Fresh | D2C | 172M | To be Refiled | NA |
| CARS24 | Auto Tech | 1.3B | Yet To File | NA |
| Atomberg | D2C | 126M | Yet To File | 2,000 Cr |
| Cult.fit | Ecommerce | 650M | Yet To File | 2,500 Cr |
| Flipkart | Ecommerce | NA | Yet To File | To Be Finalized |
| Furlenco | D2C | 290M | Yet To File | To Be Finalized |
| Imarticus Learning | Edtech | 11.7M | Yet To File | 750 Cr |
| InMobi | SaaS | 320M | Yet To File | 8,609 Cr |
| Innoviti | Fintech | 87M | Yet To File | To Be Finalized |
| Kuku FM | Consumer Internet | 156M | Yet To File | To Be Finalized |
| Meritto | SaaS | 4.5M | Yet To File | 1,100 Cr (Fresh + OFS) |
| Moneyview | Fintech | 190M | Yet To File | 3,400 Cr |
| Navi | Fintech | 677M | Yet To File | NA |
| OfBusiness | Ecommerce | 879.61M | Yet To File | 15,000 Cr (Fresh + OFS) |
| PayNearby | Fintech | 4M | Yet To File | NA |
| PayU India | Fintech | NA | Yet To File | 4,321 Cr |
| Pure EV | Electric Vehicles | 14M | Yet To File | To Be Finalized |
| Razorpay | Fintech | 816M | Yet To File | 4,500 Cr |
| Rebel Foods | Foodtech | 563M | Yet To File | To Be Finalized |
| RentoMojo | Ecommerce | 45M | Yet To File | To Be Finalized |
| Servify | Consumer Services | 130M | Yet To File | 4,300 Cr |
| Square Yards | Proptech | 200M | Yet To File | 2,000 Cr |
| Table Space | Coworking | 407M | Yet To File | NA |
| WonderChef | D2C | 30M | Yet To File | NA |
| Zetwerk | Ecommerce | 793M | Yet To File | 6,700 Cr |
The startup IPO pipeline in 2026 looks crowded, but getting listed won’t be the hard part—getting priced well will. Even with supportive macros, public markets will reward clean governance and real unit economics, and punish incentive-led growth. In other words, Startup IPOs in 2026 will separate strong businesses from good stories. Startup IPOs in 2026 can show durable demand, tight risk management, and disciplined execution.
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