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Over USD105 billion IPO windfall Who gained most from India’s startup listing boom
Economy
Published on 24 April 2026
The biggest winners weren’t just founders or firms
Since Zomato’s mid-2021 listing ignited India’s startup IPO wave, more than 30 mostly unicorn companies have gone public. Together, they’ve unlocked about USD105 billion in market value over the past four years. ET Prime now tracks who actually benefited the most from this unprecedented value creation—from early stakeholders to public-market entrants.
- Zomato’s 2021 listing kickstarted a new Indian startup IPO era
- More than 30 startups, largely unicorns, have entered public markets
- About USD105 billion worth of shares have been unlocked in four years
- ET Prime highlights who benefited most beyond the usual suspects
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times