The last few months have seen a surge in startups and new-age internet firms preparing for initial public offerings (IPOs), with some already filing their draft papers and others nearing completion of the process.

Wakefit, a mattress and furniture maker, and Pine Labs, a merchant payments company, are the latest in the series of firms to file their IPO papers.

The companies poised to enter the stock market belong to a wide range of sectors, from fintech to consumer goods and logistics.

The company filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi), aiming to raise Rs 468 crore through a fresh issue. The funds will be used to open 118 new retail outlets and upgrade existing ones. The IPO also includes an offer-for-sale (OFS) component.

This online investment platform has filed its DRHP confidentially. The IPO is estimated to be worth $700 million to $1 billion, and the shares will be listed on the NSE and BSE.

The Noida-based payments company is looking to raise Rs 2,600 crore through a fresh issue and an OFS of up to 147.8 million shares. It is backed by major investors like Mastercard, PayPal, and Temasek and is targeting a valuation of $4–$5 billion.

Decoding Pine Labs’ DRHP: Fintech aims to raise Rs 2,600 crore via an IPO

Backed by Zomato and Temasek, this ecommerce enablement platform filed its IPO papers confidentially in May. It aims to raise Rs 2,000–2,500 crore, including a fresh issue of Rs 1,000–1,100 crore.

The at-home services platform filed its DRHP in April for a Rs 1,900 crore IPO. This includes a Rs 429 crore fresh issue and a Rs 1,471 crore OFS by investors like Accel and Tiger Global.

The parent company, Imagine Marketing, filed confidential IPO papers earlier this year. The company, however, said that this doesn’t necessarily mean that it will launch the IPO. Boat is likely targeting a valuation exceeding $1.5 billion, which may change closer to the IPO filing date.
The customer engagement and loyalty provider filed for an IPO, including a Rs 430 crore fresh issue and an OFS of 18.3 million shares. This marks its second attempt at going public after shelving plans in 2021.

: The ecommerce platform has received shareholder approval to raise Rs 4,250 crore (about $500 million) through a fresh issue. Having recently shifted its domicile back to India, it is expected to file its DRHP in the next few weeks.

Back in February, ET reported that the eyewear brand is planning a $1 billion IPO, with a target valuation of around $10 billion. The SoftBank-backed company has already converted into a public limited entity.

ET reported on Friday that this logistics startup plans to file its DRHP confidentially within a month. The IPO is expected to raise Rs 2,000–2,500 crore, with around half as a fresh issue.

Zetwerk: The manufacturing unicorn plans to go public within the next 12 to 24 months and will start preparations for its listing in the ongoing fiscal year, founder and chief executive Amrit Acharya told its employees in April.

PhonePe: The digital payments giant is aiming for a $1.5 billion IPO later this year, with plans to file its DRHP by August. The expected valuation is around $15 billion, up from $12 billion in 2023.