Top Startup IPOs to Watch in India 2026: Fintech, SaaS, E-commerce Leader

The year 2026 is shaping up to be one of the most active and dynamic periods for startup initial public offerings (IPOs) in India. After a record fundraising year in 2025, when startups collectively raised approximately ₹41,250 crore, analysts and investors are watching closely as about 44 startups prepare to enter the public markets. With total anticipated capital raising projected near ₹70,000 crore, this year is poised to deliver a wave of IPOs across diverse sectors.

Key trends indicate that India’s IPO landscape is evolving beyond traditional industries, with new age sectors such as fintech, artificial intelligence (AI), deeptech, e-commerce and SaaS gaining priority. Many companies at advanced stages of regulatory filings or confidential preparatory stages are expected to launch their DRHPs or RHPs in coming months.

Major sectors and standout opportunities include:

• Fintech: This segment is expected to dominate the startup IPO pipeline, driven by digital payments, lending and financial services platforms. Notable names include Aye Finance, Kissht, Turtlemint and PhonePe, with several already filing DRHPs with the markets regulator.
• Artificial Intelligence & Deeptech: Indian startups in AI, imaging and automation are also lining up IPO plans. Companies such as Fractal Analytics and AVPL International are preparing to list, signalling growing investor interest in data-driven technology firms.
• E-commerce & Consumer Tech: E-commerce platforms, logistic tech providers and consumer-facing brands such as AceVector, Infra.Market and Purple Style Labs are on track for public offers. These companies are leveraging robust demand from online shoppers and digital consumers across the country.
• SaaS & Digital Infrastructure: Soft- ware as a Service (SaaS) companies are gaining visibility with planned IPOs. Fractal Analytics, a leader in AI-powered analytics, continues preparations as one of India’s first listed pure-play AI firms, while others like Tonbo Imaging and Meritto represent deeptech SaaS opportunities.

Some of the top startup IPOs to watch include:

• boAt, a D2C lifestyle tech brand with strong consumer recognition and a filed IPO plan. • Leap India, a logistics tech company eyeing significant market expansion. • Shiprocket, a rapidly growing logistics and fulfilment platform. • Zepto, a quick-commerce unicorn targeting a major IPO later in the year with potential multi-thousand crore deal size. • PhonePe, already cleared by SEBI for an IPO potentially around ₹12,000 crore, reflecting the strength of India’s digital payments ecosystem.
• Atomberg, a consumer appliances maker reported to be planning a public issue potentially valued near ₹1,790 crore.

Investors may also keep an eye on other companies expected to file or launch IPOs this year, including Curefoods, Purple Style Labs, SEDEMAC, Travelstack Tech and Aye Finance. Many of these startups already have significant growth track records, sizeable customer bases and strong backing from venture capital investors.

The broader market backdrop remains supportive, with regulatory developments and macroeconomic factors such as tariff adjustments and favourable trade agreements contributing to a conducive environment for public listings. Together with strong investor appetite, especially in digital and tech-enabled businesses, the 2026 IPO calendar is likely to be one of the busiest in recent years.

However, prospective IPO investors should monitor individual company fundamentals, industry risks and subscription trends closely as the year progresses. With estimates suggesting that more than 20 startups have already filed draft papers and many more preparing to do so, 2026 could become a landmark year for India’s startup ecosystem on public markets.