From CarDekho to Zepto: India's growing startup IPO pipeline

Summary

ETtech says India’s startup IPO pipeline is gathering pace: CarDekho and InsuranceDekho are preparing for public debuts, Zepto and Zetwerk have secured regulatory approvals, and PhonePe and Oyo remain in the queue.

Why it matters

The IPO conversation is no longer theoretical for late-stage Indian startups. Public-market readiness is becoming a concrete operating goal that touches governance, disclosures, and margin discipline.

Founder/operator read

• If you are building toward an eventual listing, the work starts long before the filing: audits, board hygiene, compliance, and narrative consistency all matter.
• This also changes how founders think about exits and late-stage capital planning, especially in fintech, quick commerce, and hospitality.

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