Archive · 8 Jan 2026
India's Mid-Sized Startups Prefer IPOs Over Unicorn Status
In India, many mid-sized startups are now choosing to go public through IPOs instead of aiming to become unicorns.
This change is mostly seen in the mid-sized IPO segment, which includes companies looking to raise between ₹300 crore and ₹1,000 crore.
The ₹300-600 crore range is especially active.
Experts say that these companies are more willing to enter the public markets now than they were in the mid-2010s or before the pandemic.
This shift shows that these startups are looking for different ways to grow and get funding.
Mid-sized Indian startups are increasingly opting for IPOs over the unicorn dream.
The ₹300-1,000 crore IPO segment is driving this shift, with the ₹300-600 crore range being the most active.
This trend is more pronounced than in the mid-2010s or the pre-pandemic period.
Prateek Indwar, Managing Director at InCred Capital, notes a material increase in willingness to access public markets.
The shift indicates a change in strategy among mid-sized companies seeking growth and funding.
- Who
- Mid-sized Indian startups
- What
- Choosing IPOs over unicorn status
- When
- Current period compared to mid-2010s and pre-pandemic
- Where
- India
- Why
- Increased willingness to access public markets, particularly in the mid-sized IPO segment
- Primary Driver
- Mid-sized IPO segment (₹300-1,000 crore)
- Most Active Range
- ₹300-600 crore
- Comparison Period
- Mid-2010s and pre-pandemic
- Expert
- Prateek Indwar, Managing Director, InCred Capital
- Market Access
- Increased willingness to access public markets
