18 Indian Startups Raised ₹41,283 Cr Through IPOs in 2025

India’s startup ecosystem had its busiest IPO year yet in 2025, with 18 new-age technology companies raising a combined ₹41,283.2 crore from public markets. The number of startup listings rose 38% from 13 in 2024 and was more than three times the five companies that went public in 2023, according to Inc42.

A striking feature of the year was where the money went. Of the total IPO value, ₹21,474.3 crore came through offers for sale, while ₹19,809.61 crore was raised through fresh share issuance. That means more than half of the capital represented existing shareholders selling stakes, turning IPOs into meaningful liquidity events for founders and early investors as well as fundraising tools for companies.

Several large consumer and fintech names drove the activity. Groww raised ₹6,632 crore, including ₹5,572.3 crore through OFS, while Pine Labs launched a ₹3,900 crore issue. Lenskart’s IPO included ₹5,128.02 crore of OFS alongside ₹2,150 crore in fresh capital. WeWork India’s ₹3,000 crore IPO, meanwhile, was entirely an offer for sale.

The listing wave also broadened across sectors. Four coworking companies — DevX, IndiQube, Smartworks and WeWork India — went public, while ecommerce names such as Lenskart, Meesho and ArisInfra joined fintech and consumer-tech companies on the exchanges. Market reception varied considerably, reinforcing that a successful IPO did not automatically translate into sustained post-listing gains.

The ₹41,283 crore raised in 2025 compares with about ₹29,070 crore in 2024, suggesting public markets became a much larger funding and exit channel for venture-backed businesses. Inc42 also reported that around 68% of listed new-age companies were profitable at the time, reflecting growing investor emphasis on earnings visibility. The bigger shift may therefore be structural: mature startups increasingly have an alternative to relying on ever-larger private funding rounds for both growth capital and investor liquidity.