The Global Tech IPO market
The year gone by had been a muted year for tech IPOs globally, especially the US, primarily due to the market volatility, geo-political instabilities and higher interest rates. An estimated ~150 tech companies that had planned / filed for IPO in 2023 have deferred their plans.
Since then, the Nasdaq has recovered ~35% from its bottom, the US treasury rates have peaked at 5.5% (with a target of ~3-3.5% by end of 2024) and the geo-political crisis have been temporarily mitigated. With visible stability, controlled inflation and re-adjusted investor risk, the global equity market is poised to see a flurry of IPOs in 2024. As per a recent CB Insights report, there are nearly 250 VC funded companies preparing to IPO in the next 12 months. Of these ~30 companies are expected to IPO on Indian bourses, led by some marquee names like Ola Electric, Swiggy, etc.
Below is the list of VC-funded companies expected to IPO in 2024:
Indian IPO Outlook
There were ~50 mainboard IPOs and ~165 SME IPOs in India that cumulatively raised Rs 50,000+ Cr. Over 90% of these IPOs were successful, ie, fully subscribed and listed with positive gains. It was a record year for the Indian IPO market and we expect the trend to continue in 2024.
Infact, as per industry estimates, there is roughly Rs 20,000 Cr worth of IPO pipeline already visible, of which ~Rs 4,000 Cr worth of IPOs have already been announced. We estimate this year’s IPO market will be led by technology companies (many of which held back their IPOs in 2022/23) with an estimated of ~50+ tech IPOs including marquee SME companies with a total IPO size in the range of ~Rs 20000-25000 Cr !
Below is a list of ~30 companies as per CB Insights, that are looking to IPO in India:
In addition to these 30 companies, we are excited for some of the most promising enterprise tech companies that may look to IPO over the coming years, we are excited to look-out for the below:
This will be a defining year for tech IPOs in India, further paving the way for early growth investors to exit via public markets and inducing confidence in the depth of Indian markets.
We have built a proprietary framework for investing in Pre-IPO stage companies using a balanced mix of financial stability, growth potential and meeting market expectations (at IPO)
The data provided on this website (www.csvpfund.com) is for informational purpose only.
Any information provided on this website or any of the other digital assets owned & maintained by Cornerstone Venture Partners Fund, Mumbai, India (“CSVP”)and managed by the Investment Manager, Cornerstone Ventures Investment Advisers LLP, Mumbai India, does not constitute investment advice or investment recommendation nor does it constitute an offer to buy or sell or a solicitation of an offer to buy or sell shares or units in any of the investment funds or other financial instruments.
The Cornerstone Global Enterprise SaaS Index (“CGES Index”) ™ is a trademark of CSVP. The CGES Index is created & maintained using a proprietary algorithm and is to be used for informational purpose only. It is not to be construed as an investment advice or investment recommendation in any of the constituent companies / stocks that are directly or indirectly part of the Index. The Index is created using publicly available data published on the websites of the respective companies. All data presented is as per our internal research and analysis leveraging publicly available data and is being presented only for academic deliberation and discussion purposes and is not to be viewed as any specific commentary / recommendation / evaluation / conclusion on any of the companies / stocks that are directly or indirectly part of the CGES Index.
CSVP also analyses, maintains, and publishes certain financial and non-financial metrics (“SaaS Metrics”) on the Index at an aggregate level, and not at a specific company / stock level that constitute the CGES Index. These SaaS Metrics are provided purely for informational purpose and CSVP assumes no liability for accuracy, suitability, or completeness of the SaaS Metrics. The SaaS Metrics are created using publicly available third-party information and CSVP does not claim any ownership of the sourced data. CSVP is not responsible for the accuracy, suitability or completeness of the information originally disclosed by the owner of the information and any information provided herein. CSVP accepts no liability and offer no guarantee as to whether the information is up to date, correct or complete.
CSVP may have used third-party data, information, and content (including all text, data, graphics, and logos) on the website. CSVP assumes no ownership and intends no infringement of rights, titles, and claims (including copyright, brands, patents and other intellectual property or other rights) of the respective owners or authorized users of the respective content. Use of such content is from publicly available sources and for indicative and informational purpose only in good faith. All trademarks and registered trademarks are the properties of their respective owners. This website may contain references or links to other websites. References and links to third-party websites do not mean that CSVP adopts the content behind the reference or link as its own. When first setting up the link, CSVP will have checked the linked site for illicit content and found none at that time. However, CSVP have no influence over the current and future design or content of such linked sites and will accept no liability for such content or design. Any use of these websites is at your own risk. The obligation of CSVP to remove or block the use of information according to the general laws from the time of knowledge of a concrete violation of the law remains unaffected.