New-age tech IPOs set to surge in India: what startups must prepare for in H2 2025

India's new-age tech sector is gearing up for a significant increase in IPO activity in the latter half of 2025, with 20 startups currently preparing to go public.

According to Inc42 data, the strong equities market and rationalized valuations in 2024 are key drivers behind this anticipated surge.

"20 startups are in various stages of undertaking their IPO preparations at the outset of 2025," the report states.

So far, only one company, Ather, an electric vehicle maker, has successfully listed, debuting on May 6 with shares opening at INR 328 on the NSE, though the response was muted.

"Ather became the first listed Indian new-age tech company of 2025 to go public," marking a cautious start to the year.

Despite 11 new-age tech firms filing draft red herring prospectuses (DRHPs) with SEBI, including notable names like ArisInfra, Avanse Financial Services, and BlueStone, only Ather has completed its listing.

Analysts remain optimistic about the second half of 2025, expecting a pickup in IPOs as market conditions remain favorable.

"While analysts expect new-age tech IPOs to pick up pace in the second half of 2025, it would be interesting to see what lies in store for the startup ecosystem as the year progresses," the analysis concludes.

This anticipated wave of public listings could reshape India's startup ecosystem, providing new capital avenues and growth opportunities for emerging tech companies.

India is poised for a surge in new-age tech IPOs in the second half of 2025, with 20 startups preparing to go public. Despite a slow start with only one listing so far, analysts anticipate increased activity driven by strong market conditions and rational valuations.