BENGALURU -- A shortage of growth capital is driving Indian startups to the bourses, with some of them even pricing their initial public offers lower than their last funding rounds in order to woo investors.
Electric vehicle maker Ola Electric Mobility and insurance provider Go Digit General Insurance respectively priced their IPOs at discounts of 22% and 13% from their last valuations, at $4.3 billion and $3.2 billion, when they went public on Aug. 9 and May 23. Baby-care retailer FirstCry kept its valuation flat at about $3 billion. Together, the trio accounted for 80% of the $1.92 billion that Indian startups raised through public flotations in 2024.
