New Delhi

India's listed new-age ecosystem is projected to reach USD 1 trillion market capitalisation by 2030, driven by a robust pipeline of companies preparing to tap public markets, according to a report released by strategy consulting firm Redseer on Thursday.

The report, Redseer India IPO Report: 2026, said the country currently has around 210 new-age companies that are IPO-ready over the next 24 months, identified through an assessment of 1,400 firms. Based on an analysis of more than 300 mainboard IPOs between FY21 and FY26, the report said India's listed new-age companies currently account for around USD 150 billion in market capitalisation, or about 4.6 per cent of the country's total market value. This share could expand to nearly 11.5 per cent by 2030 under Redseer's base-case scenario.

The report noted that India's IPO market has grown nearly eightfold in terms of proceeds over the past decade, making it the only major capital market to sustain uninterrupted growth in primary issuances. India now ranks third globally in IPO proceeds. According to the report, the country's IPO market has also become more resilient due to rising participation by domestic institutional investors, including mutual funds, insurers and pension funds, supported by sustained systematic investment plan (SIP) inflows.

This has reduced the market's dependence on foreign capital during periods of global volatility. The report further said investor preference has shifted towards companies demonstrating profitable growth. Among new-age firms that went public between FY22 and FY26, the proportion of companies reporting profits after tax (PAT) at the time of listing increased from 50 per cent to 70 per cent, while median pre-IPO revenue growth moderated from 50 per cent to 33 per cent. "India's IPO story has become far more interesting than the number of companies coming to market every year. Over the last decade, the market has developed greater depth, businesses have become more resilient and domestic pools of capital have grown substantially," Redseer Partner Rohan Agarwal said.

Associate Partner Abhishek Tandon said an IPO reflects years of business-building, with governance, financial discipline and valuation converging at the time of listing.