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Back to life: Indian startups revive IPO plans

Companies edge toward listings as local stock markets beat overseas peers

Indian startups such as Oyo and Ixigo are gearing up for IPOs. (Source images by Kosaku Mimura and Ken Kobayashi)

BENGALURU -- A wave of Indian startups are reviving plans to go public as the nation's stock markets outperform many of their overseas peers. But analysts warn that the kind of euphoria that greeted some listings last year is likely to make way for a more sober reception this time around.

SoftBank-backed hotel startup Oyo and travel firm Ixigo, supported by Singapore's GIC, are among the companies expected to head back to the market. Both revised offer documents with Indian regulators earlier this month, resuscitating plans for initial public offerings that had been put on hold after Russia's invasion of Ukraine sent shock waves through the global economy.

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