60+ listed new-age tech firms hit $141 Bn m-cap; Lenskart, Meesho, Urban Company headline 2025-26 IPO wave
Inc42's tracker pegs 60+ listed Indian new-age tech companies at a cumulative $141 Bn m-cap, with 64% now profitable. 18 IPOs landed in 2025 and six more in 2026, with ~15 still in the pipeline. Retail-heavy names lead: Lenskart FY25 PAT ₹297 Cr, Urban Company ₹240 Cr, Meesho sales ₹9,390 Cr, Nykaa ₹7,950 Cr.
Inc42's tracker of 60+ listed Indian new-age tech firms shows $141 Bn cumulative m-cap, with retail-relevant names like Lenskart, Meesho, Nykaa, Swiggy, FirstCry, Honasa, Urban Company and Bluestone; 18 IPOs in 2025, six already in 2026.
Why this matters
Lenskart, Meesho and Urban Company headlining the IPO wave signals retail-led new-age tech maturing into profitable public companies, with 64% of the cohort in the black.
Retail-company theme steady at 437 signals in last 90 days, indicating sustained listed-retail activity.
Also reported by
- Inc42 — 1h after first sighting