Gravitywell.Research
IPO Pipeline · The DPI calendar

Who gets paid next.

India's private-to-public queue, tracked position-by-position: every listing candidate in the Gravitywell firm books, its status, its holders, and what each print re-marks. The DPI calendar for private capital.

Queued listings14
CadenceRefreshed monthly
VintageJuly 2026
Razorpay
Confidential DRHP filed Jun 2026

₹5,000-6,000 Cr at $5-6bn: below the $7.5bn private peak; the bellwether print for every fintech mark

Zepto
Updated DRHP filed Jun 2026 · July target reported

$7bn last mark (CalPERS-led); domestic-ownership restructuring done: quick-commerce economics on trial

Darwinbox
Expected 2026

HR SaaS; 3one4 already exited at 58x into the KKR round: listed comp for SaaS books

Zetwerk
IPO prep

Triple cross-hold: the most contested realisation event in the cohort

Infra.Market
DRHP filed
Tracked holdersNexus Venture Partners

Construction materials; Nexus's next big OFS candidate

OYO
₹6,650 Cr IPO filed · FY26

No OFS: holders locked to post-listing sales; >$1.4bn already realised in 2019

OfBusiness
Pre-IPO secondary in process

Z47 running ~$200M part-stake sale at ~$5bn; $750M-1bn issue reported at $6-9bn

boAt (Imagine Marketing)
SEBI-approved ₹1,500 Cr · ~H2 2026
Tracked holdersFireside Ventures

Fireside sells ₹150 Cr in OFS: the D2C shelf’s benchmark print

Atomberg
DRHP targeted ~Jul 2026 · FY27 listing
Tracked holdersA91 Partners

₹1,500-2,000 Cr; A91 diluting below 20% to avoid promoter classification

Perfios
IPO prep · ~$2bn target
Tracked holdersBessemer India

Bessemer holds >26%: the fintech-infra benchmark print

PhonePe
All-OFS IPO filed · deferred Mar 2026
Tracked holdersTiger Global

~$15bn valuation; Tiger and Microsoft exit fully: the highest-stakes pending fintech print

Flipkart
IPO expected 2026
Tracked holdersSoftBank Vision Fund

SVF2 re-entered ~$700M in 2021; the e-commerce benchmark listing

KreditBee
Pre-IPO · $280M at ~$1.5bn (May 2026)
Tracked holdersArkam Ventures

Middle-India lending's first big public print

Udaan
Prep · slow
Tracked holdersLightspeed India

Valuation compressed from peak; test of B2B commerce marks

Pipeline assembled from DRHP filings, SEBI approvals and tier-1 press reports, cross-referenced against the tracked position books: holders shown are tracked franchises only, not full cap tables. Statuses are point-in-time as of July 2026 and never silently restated. Context: 24 startups had filed DRHPs by June 2026; 2026 listings so far have been flat, so pricing risk sits in every row above.

Stay ahead

New filings and status moves, as they publish.

New reports and coverage updates. No spam. Unsubscribe anytime.