India’s start-up listing spree is showing no signs of slowing down. This week alone, one unicorn has made its stock market debut, with two more preparing to follow. Eyewear brand Lenskart, founded by Shark Tank India judge Peyush Bansal, launched its $821 million (₹6,230 crore) public offering, which sold out within hours despite steep valuations. However, the company’s market debut on Monday proved volatile.
Next up is Groww, the country’s largest retail brokerage platform backed by Microsoft CEO Satya Nadella. Its IPO, set to list on Wednesday, drew 17 times more investor demand than the share supply. Fintech player Pine Labs is also expected to list later this week.
These debuts come amid a busy IPO season for Indian start-ups, with firms across sectors, from home services provider Urban Company to ed-tech player Physics Wallah, turning to the stock market to raise capital.
The ongoing fundraising frenzy has sparked debates over the high valuations of several loss-making tech ventures. Yet analysts say this momentum reflects the growing maturity of India’s start-up ecosystem after a long funding winter, when venture capital inflows slowed and early-stage investors struggled to exit.
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