India’s startup ecosystem is witnessing an electrifying shift in 2025, as some of the country’s most celebrated tech-driven companies leap into the public market spotlight. Lenskart, Amagi Media Labs, and CarTrade Tech are leading a historic IPO rally, signaling a new era where public listings are the chosen path to scale, credibility, and global recognition for Indian startups. Here’s a deep dive into these blockbuster IPOs, why they matter, and how they’re transforming the narrative for founders and investors alike.
Lenskart: Eyewear Unicorn Goes Public
The Big Leap
Lenskart, India’s leading tech-enabled eyewear player, is finally hitting the public markets with a ₹2,150 crore IPO. After more than a decade of relentless omni-channel growth—combining online presence with a vast retail footprint across India and overseas—the company has won shareholder approval to list, with ambitions of raising its valuation to the $8-10 billion mark.
The Growth Story
-
Revenue & Expansion: Projected revenues near $755 million (₹6,415 crore) for FY25, marking consistent double-digit growth.
-
Global Footprint: Post-acquisition of Japan’s Owndays, international sales account for 40% of total turnover—making Lenskart as much a global player as a domestic one.
-
Innovations: Tech-powered in-store experience, cutting-edge manufacturing, and rapid delivery logistics.
IPO Objectives
-
Expanding retail and e-commerce ecosystems.
-
Investing in automation and new manufacturing plants.
-
Accelerating international expansion.
Why It Matters
Lenskart’s IPO is seen as a bellwether for the direct-to-consumer (D2C) sector in India—proving that domestic brands with deep digital DNA can achieve global scale and investor confidence.
Amagi Media Labs: India’s SaaS Broadcast Pioneer Lists
Sector-First Debut
Bengaluru-based Amagi Media Labs is breaking new ground with its ₹1,020 crore IPO, marking the first Indian SaaS company in the media and entertainment tech segment to go public. With their cloud-native broadcasting platform powering some of the world’s biggest streaming brands, Amagi’s listing is both a technology milestone and a marker for aspiring Indian SaaS founders.
Business Highlights
-
Founded: 2008, bootstrapped and later backed by top venture funds.
-
Growth: FY24 revenue at ₹879 crore, growing nearly 30% YoY; profitability inching closer with each quarter.
-
Clientele: Serving 45% of the world’s top 50 media companies—Disney, NBCUniversal, and more.
What Funds Will Fuel
-
Scaling cloud and AI-powered infrastructure.
-
Exploring inorganic growth and global partnerships.
-
Strengthening tech and R&D.
Industry Impact
Amagi’s IPO proves that India’s SaaS story is not just about backoffice tools but also deep, globally competitive product companies with recurring, sticky revenue streams.
CarTrade Tech: Profitable Marketplace Model Shines
IPO Veteran with Strong Returns
Having gone public in 2021 with a ₹2,998 crore IPO, CarTrade Tech’s post-listing story provides a vital backdrop to today’s market momentum. As the parent company of CarWale, BikeWale, and Shriram Automall, CarTrade continues to set benchmarks for digital marketplaces.
Key Performance Numbers
-
Shareholder Value: Stock price up 119.6% over twelve months.
-
Revenue: Q1 FY25 sales at ₹66.4 crore, up 31.6% YoY.
-
Platform Strength: Profitable, diverse, and scalable operations.
Why CarTrade Was a Trailblazer
CarTrade’s profitable and disciplined growth paved the way for other startups to consider IPOs as a primary route to capital, market validation, and long-term scale.
What This IPO Wave Means for India’s Startup Landscape
-
Momentum Shift: Startups now aspire not just for “unicorn” status but also for sustainable, public-market-led growth.
-
Investor Excitement: A strong IPO pipeline, with Lenskart, Amagi, and other giants, increases global investor confidence in Indian innovation.
-
Benchmarks for Ambition: The new bar is not just raising capital but also demonstrating discipline, profitability, and global potential.
The IPO rush spearheaded by Lenskart, Amagi, and CarTrade is more than a capital-raising spree—it’s the story of Indian startups maturing, aiming global, and committing to operational excellence. For founders and investors across the country, “going public” is no longer a distant aspiration; it’s the new measure of success in India’s thriving innovation economy.
Stay tuned—as this wave builds, the next generation of bold, disciplined, and world-class Indian startups are gearing up to follow in their footsteps.
