IPO watch: Which Indian startups are next to hit the stock market?
The last few months have seen a surge in startups and new-age internet firms preparing for initial public offerings (IPOs), with some already filing their draft papers and others nearing completion of the process.
Wakefit, a mattress and furniture maker, and Pine Labs, a merchant payments company, are the latest in the series of firms to file their IPO papers.
The companies poised to enter the stock market belong to a wide range of sectors, from fintech to consumer goods and logistics.
Here's a list of the companies in the run and their IPO plans:
Companies that have filed IPO papers
Wakefit: The company filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi), aiming to raise Rs 468 crore through a fresh issue. The funds will be used to open 118 new retail outlets and upgrade existing ones. The IPO also includes an offer-for-sale (OFS) component.
Groww: This online investment platform has filed its DRHP confidentially. The IPO is estimated to be worth $700 million to $1 billion, and the shares will be listed on the NSE and BSE.
Pine Labs: The Noida-based payments company is looking to raise Rs 2,600 crore through a fresh issue and an OFS of up to 147.8 million shares. It is backed by major investors like Mastercard, PayPal, and Temasek and is targeting a valuation of $4–$5 billion.
Also Read: Decoding Pine Labs' DRHP: Fintech aims to raise Rs 2,600 crore via an IPO
Shiprocket: Backed by Zomato and Temasek, this ecommerce enablement platform filed its IPO papers confidentially in May. It aims to raise Rs 2,000–2,500 crore, including a fresh issue of Rs 1,000–1,100 crore.
Urban Company: The at-home services platform filed its DRHP in April for a Rs 1,900 crore IPO. This includes a Rs 429 crore fresh issue and a Rs 1,471 crore OFS by investors like Accel and Tiger Global.
Boat: The parent company, Imagine Marketing, filed confidential IPO papers earlier this year. The company, however, said that this doesn't necessarily mean that it will launch the IPO. Boat is likely targeting a valuation exceeding $1.5 billion, which may change closer to the IPO filing date.
Capillary Technologies: The customer engagement and loyalty provider filed for an IPO, including a Rs 430 crore fresh issue and an OFS of 18.3 million shares. This marks its second attempt at going public after shelving plans in 2021.
Companies preparing to file IPO papers
Meesho : The ecommerce platform has received shareholder approval to raise Rs 4,250 crore (about $500 million) through a fresh issue. Having recently shifted its domicile back to India, it is expected to file its DRHP in the next few weeks.
Lenskart: Back in February, ET reported that the eyewear brand is planning a $1 billion IPO, with a target valuation of around $10 billion. The SoftBank-backed company has already converted into a public limited entity.
Shadowfax: ET reported on Friday that this logistics startup plans to file its DRHP confidentially within a month. The IPO is expected to raise Rs 2,000–2,500 crore, with around half as a fresh issue.
Zetwerk: The manufacturing unicorn plans to go public within the next 12 to 24 months and will start preparations for its listing in the ongoing fiscal year, founder and chief executive Amrit Acharya told its employees in April.
PhonePe: The digital payments giant is aiming for a $1.5 billion IPO later this year, with plans to file its DRHP by August. The expected valuation is around $15 billion, up from $12 billion in 2023.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
37 minutes ago
- Indian Express
‘Daylight robbery…unacceptable': Karnataka transport minister Ramalinga Reddy orders action against app-based auto aggregators for overcharging
Amid rising complaints from commuters against app-based auto aggregators overcharging post the bike taxi ban, Karnataka transport minister Ramalinga Reddy has directed the transport commissioner to draft and implement an effective action plan—including permit cancellation and criminal cases—against offending auto drivers. 'Passengers have highlighted several violations, including demands for higher-than-fixed fares, cancellation of trips if the inflated fare is not accepted, and exorbitant charges. For instance, on June 18, 2025, the Rapido Auto app charged Rs 100.89 per km, while the same app charged Rs 184.19 for a 4 km journey. Such blatant overcharging amounts to daylight robbery and is unacceptable. Immediate and stringent action is necessary,' Reddy noted in a letter to the transport commissioner on Saturday. He added, 'Although the transport department has already booked several cases against auto drivers for fare refusal and overcharging, complaints continue to pour in from the public. The mobile phone screenshots submitted by commuters serve as evidence of fares exceeding the prescribed limits.' As per the auto fare revision in December 2021, the government has fixed Rs 30 for the first 2 km and Rs 15 for every subsequent km. In 2022, the Karnataka High Court order also capped aggregator commissions at 10 per cent, aimed at making fares more affordable and transparent. As per the high court order, app-based auto aggregators are allowed to charge only 10 per cent above the government-notified fare, plus 5 per cent goods and services tax. However, app-based auto-rickshaw services (e.g., Ola, Uber, Rapido) have been criticised for non-compliance, with fares often exceeding Rs 70 for short rides (e.g., 1.5 km) due to additional charges like surge pricing, congestion fees, pickup fees or optional tips. The complaints of exorbitant charges have reportedly increased after the bike taxi ban kicked in from June 16. Two days ago, Bangalore Central MP P C Mohan shared screenshots on X highlighting exorbitant auto-rickshaw charges through aggregator apps, stating, 'A mere 1.5 km ride costs over Rs 70 in Bengaluru due to a complete breakdown in fare regulation. The State Government must enforce base fares, mandate meter usage, and shield commuters from app-driven cartels and digital monopolies. Overcharging has already cost citizens Rs 1,010 crore.' He further noted, 'Since the bike-taxi ban, auto fares in Bengaluru have spiked by 50%. A 3 km ride now costs Rs 120–Rs 150, with commuters pressured to pay 'tips' of Rs 30–Rs 100 to avoid cancellations. With meters largely ignored and digital platforms unchecked, the Government must intervene to ensure fairness and accountability.' Mohan also sought a revision of auto fares, requesting Chief Minister Siddaramaiah to fix the minimum fare at Rs 35. Revision of auto rickshaw fares sought Meanwhile, the Autorickshaw Drivers' Union (ARDU) has submitted representations to the Bengaluru Urban deputy commissioner seeking a revision of auto rickshaw fares in accordance with the increase in the central government's Wholesale Price Index. Several other auto rickshaw unions have also proposed increasing the fares in Bengaluru, citing rising operational costs, including fuel, spare parts, and vehicle maintenance. The unions have proposed a base fare of Rs 40 for the first 2 km (up from Rs 30) and Rs 20 for every subsequent km (up from Rs 15). 'While honest auto drivers are compelled to operate at outdated fare rates, their incomes have significantly reduced. This inaction on fare revision has inadvertently allowed a section of drivers to exploit the situation by charging arbitrarily high, often double, fares,' Rudramurthy, president of ARDU, said in a letter to the Bengaluru Urban deputy commissioner last week. He added, 'In contrast, cities like Udupi, Mangaluru, and Shivamogga revised their rates in 2023 to Rs 40 for the first 2 km and Rs 20 per km thereafter. In Maharashtra's major cities like Mumbai and Pune, fares are as high as Rs 50 for 2 km and Rs 25 per km thereafter.' Rudramurthy also noted that in certain parts of the city, passengers are often forced to pay inflated charges due to the absence of a legally revised fare structure. He complained that app-based auto rickshaw aggregators have exploited this vacuum by displaying arbitrary and illegal fares on their mobile platforms, resulting in routine passenger exploitation. 'Under the provisions of the Indian Motor Vehicles Act, the State Transport Authority is required to constitute a Regional Transport Authority (RTA) to oversee such fare matters. However, the deputy commissioner, who by law should serve as the chairperson of the RTA, has not been officially appointed, resulting in administrative lapses and inaction,' he said.
Hindustan Times
42 minutes ago
- Hindustan Times
Majithia case: Badal dares CM Mann to prove foreign funding by Saraya Industries
Chandigarh, Shiromani Akali Dal president Sukhbir Singh Badal on Saturday dared Punjab Chief Minister Bhagwant Mann to prove that Saraya Industries, in which party leader Bikram Singh Majithia had an inherited share of 11 per cent, had received even one rupee in foreign funding from 2007. Majithia case: Badal dares CM Mann to prove foreign funding by Saraya Industries Lashing out at the Aam Aadmi Party government for arresting Majithia, Badal said that a case was registered against the former Akali minister because he was "constantly exposing" the Mann dispensation over various issues. The Punjab Vigilance Bureau arrested Majithia on June 25 in a disproportionate assets case allegedly involving laundering of ₹ 540 crore "drug money". The Vigilance Bureau claimed the preliminary investigations revealed that more than ₹ 540 crore of drug money was laundered through several channels allegedly facilitated by Majithia, who is the brother-in-law of the SAD president. It included huge unaccounted cash worth ₹ 161 crore deposited in bank accounts of companies controlled by Majithia, channelisation of ₹ 141 crore through suspected foreign entities, excess deposition of ₹ 236 crore without disclosure or explanation in company financial statements and acquisition of movable and immovable assets by Majithia without any legitimate sources of income. Addressing the media here, the SAD chief trashed the Vigilance Bureau's claims against Majithia regarding the disproportionate assets. "The only foreign funding received by Saraya Industries was in March, 2006 when it received ₹ 35 crore from the US-based Clearwater Corporation in exchange for 25 per cent shares in the company. Majithia entered politics only in 2007," said Badal. "Clearwater Corporation, which had offices in several countries, had invested ₹ 50,000 crore globally. All money invested by this company through the NBFC in Saraya Industries was done after due clearance from the Reserve Bank of India and approval of the Foreign Investment Promotion Board ," he added. Badal also said that all transactions of Saraya Industries were scrutinized and accepted by the Income Tax department. "This clearly proves that claims of an investment of ₹ 540 crore into Saraya Industries through foreign funding are absurd and malicious and being done with the sole purpose of defaming Majithia," he added. The SAD chief also clarified that all cash transactions done by Saraya Industries while procuring sugarcane and conducting distillery business had also been scrutinized by the Income Tax department. Badal stated that Saraya Industries Ltd was a private limited company deemed to be a public limited company and was a different entity from Majithia and could not be associated with the latter. "Majithia has no control over the company's day-to-day functioning," he said. Badal accused Chief Minister Mann of pressurizing the state police chief to register a case against Majithia. The SAD chief claimed that no investigation had been done before registering the case. "The Vigilance department did not deem it fit to issue a questionnaire to Majithia which is a prerequisite before filing such a case," he said. Badal said an affidavit, which the government had submitted to the Supreme Court in 2023 while appealing for cancellation of the regular bail given to Majithia and seeking his custodial interrogation in the 2021 drug case, was used "verbatim" to register this new case against him. "This was done despite the fact that the Supreme Court rejected the affidavit in April this year and refused to overturn the regular bail given to Majithia by the high court or grant the request for custodial interrogation. The apex court even asked the A government to complete the probe in two days following which it has now taken this new route to engage in political vendetta," he claimed. The SAD president also condemned the manner in which retired officers former DGP Siddharth Chattopadhyaya and former deputy director of Enforcement Directorate Niranjan Singh were called by the Vigilance Bureau to share information regarding the drug case. Terming the entire case as "illegal and a willful fabrication", Badal said, "We will go to people and expose the A government." This article was generated from an automated news agency feed without modifications to text.
Time of India
43 minutes ago
- Time of India
Central Sector Scholarship Scheme 2025: CBSE asks students to apply by 31 October
Central Sector Scheme of Scholarship 2025. (AI Image) Central Sector Scholarship 2025: The Central Board of Secondary Education (CBSE) has issued a public notice inviting applications from eligible students for the Central Sector Scheme of Scholarship for College and University Students (CSSS) for the academic year 2025–26. The scholarship is sponsored by the Department of Higher Education, Ministry of Education, and aims to support meritorious students from economically disadvantaged backgrounds in pursuing higher education. The online application process is now open on the National Scholarship Portal ( Students seeking fresh applications or renewals for 1st year (2024), 2nd year (2023), 3rd year (2022), and 4th year (2021) are encouraged to submit their applications online. The last date to apply for both fresh and renewal scholarships is October 31, 2025. Scholarship aims to support students in higher education The Central Sector Scheme of Scholarship is designed to provide financial assistance to deserving students to help meet part of their daily expenses during their graduation and postgraduation studies. Under this scheme, selected undergraduate students receive Rs 12,000 per annum for the first three years, while postgraduate students are awarded Rs 20,000 per annum. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 3.5, 4.5 BHK Homes starting at ₹4.89 Cr.* Hero Homes Learn More Undo Read the official notice here CBSE has asked all students affiliated with its institutions to apply through the National Scholarship Portal within the stipulated deadline. The board emphasised that all applications must be verified by the respective institutions. In cases where verification is required, students must present their original documents to their institute authorities. Institutional verification is mandatory The board has also issued a directive to the Nodal Officers of respective institutions to ensure timely verification of applications. Officers are expected to verify, flag defects, or reject applications as necessary via their institute login on the portal. Failure to complete this process may result in applications being marked as invalid. "All the candidates are advised to apply online within the stipulated time and get their online applications verified by the institutions (if required show the original documents to institute), else the application would be treated as INVALID," CBSE stated in its official notice. Application process available only through online portal To apply, students must visit and complete the online application process. It is crucial that both fresh applicants and those seeking renewal follow the specified procedure carefully to avoid rejection. Students and institutions are advised to adhere strictly to deadlines and verification requirements to ensure the successful processing of scholarship applications under the CSSS scheme. Is your child ready for the careers of tomorrow? Enroll now and take advantage of our early bird offer! Spaces are limited.
