The Indian market this year will see several IPO offerings, specifically from tech companies. Industry experts, as per Fortune, suggest that a total of 11 tech firms could raise more than Rs. 36,700 crore
through initial public offerings. While some companies have refiled draft papers after earlier attempts, others are entering the fray for the first time. These companies come from sectors like fintech, e-commerce, and logistics. Zepto, PhonePe, and OYO are looking to go public this year.
The anticipated listings follow a year where new-age firms raised around Rs. 36,000 crore. Here is a list of the tech firms eyeing an IPO this year.
1. PhonePe
The digital payments firm, backed by Walmart, is targeting an IPO of approximately Rs. 12,000 crore, with reports suggesting a potential valuation in the range of Rs. 80,000 crore to Rs. 1 lakh crore. It has expanded beyond payments into insurance and wealth management, though it faces regulatory hurdles related to its separation from Flipkart. The company filed its draft red herring prospectus in late 2025, aiming for a listing in the first half of 2026.
2. Zepto
This quick-commerce platform is preparing for a public issue of about Rs. 11,000 crore, focusing on fresh capital to fuel expansion. Valued at over Rs. 30,000 crore in recent funding rounds, it operates in densely populated urban areas but contends with intense competition and slim margins. Zepto has initiated early regulatory steps, with an expected listing window in mid-2026.
3. OYO
The hospitality aggregator's parent, PRISM, plans to raise nearly Rs. 6,650 crore through its IPO, including a fresh issue component. After withdrawing an earlier filing, it has refiled documents emphasising its tech-driven model for hotel bookings. Challenges include ongoing losses and legal disputes, with a targeted debut in the latter half of 2026.
4. boAt
Consumer electronics brand Imagine Marketing, known for audio products, is eyeing a Rs. 3,000 crore IPO with a mix of fresh issue and offer for sale. It has revised its draft papers to reflect growth in wearables, though it grapples with supply chain dependencies and market saturation. The listing is slated for 2026, pending regulatory approval.
5. AceVector
This entity, which includes platforms like Bikayi for e-commerce enablement, is in the pipeline for a 2026 IPO, though specific fundraising details remain undisclosed. It focuses on tech solutions for small businesses, amid a sector seeing consolidation. Preparations are underway, with investor interest tied to its user base expansion.
6. Fractal Analytics
The AI and analytics firm is set for a Rs. 4,900 crore IPO, comprising fresh shares and an offer for sale. It serves enterprise clients with data-driven services, but faces competition from global players. Draft papers were filed in early 2026, positioning it as an early candidate in the year's listings.
7. Curefoods India
Operating cloud kitchens and food delivery tech, the company is preparing for a 2026 public offering, with estimates around Rs. 1,500 crore. It has grown through acquisitions but reports persistent operational losses. Regulatory filings are expected soon, highlighting its role in the evolving foodtech space.
8. Shiprocket
This e-commerce logistics platform aims to raise funds via IPO in 2026, potentially Rs. 2,300 crore, to support tech infrastructure. Backed by investors like Temasek, it handles shipping for online sellers but deals with pricing pressures. It has begun the process for draft prospectus submission.
9. Shadowfax
The logistics tech firm is targeting a Rs. 2,000 crore IPO, focusing on last-mile delivery solutions. It serves e-commerce giants and has expanded into hyperlocal services, though profitability remains elusive. Plans for 2026 include a fresh issue to fund growth, with filings anticipated in the coming months.
10. Turtlemint
As an insurtech platform, Turtlemint is gearing up for a 2026 listing, with a proposed raise of about Rs. 1,200 crore. It aggregates insurance products online, benefiting from digital adoption but facing commission-based revenue challenges. The company is in early stages of IPO preparation.
11. Infra.Market
This B2B construction materials marketplace, leveraging tech for supply chain management, plans a Rs. 3,000 crore IPO in 2026. It has achieved unicorn status but encountered governance issues in the past. The offering will include secondary sales, as it seeks to capitalise on infrastructure demand.
