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.
~₹5,700 Cr (₹2,700 Cr fresh + OFS) at a reported ~₹60,000 Cr (~$6.8bn): below the $7.5bn private peak; Axis, Kotak, JPMorgan, Citi mandated. The bellwether print for every fintech mark — reports conflict on the discount: ~₹60,000 Cr talk vs '~$2.5bn below the private mark' expectations
The ₹11,000-12,000 Cr issue slips to a reported Feb-May 2027 window: domestic MFs/insurers would bid only ~$4.5bn vs the $7bn mark, so Zepto bridged with a >₹1,000 Cr pre-IPO placement (Nexus, GC in) instead of pricing down. ED/FEMA disclosure unresolved
HR SaaS; 3one4 already exited at 58x into the KKR round: listed comp for SaaS books. Microsoft, Salesforce and ADP are reported evaluating a buyout ahead of the planned IPO — a sale could pre-empt the listing entirely
~₹2,600 Cr fresh issue + OFS of 9.68 Cr shares; roadshows underway, targeting an end-Sept 2026 listing. Triple cross-hold: the most contested realisation event in the cohort
The ₹5,000 Cr confidential-route IPO (approved 23 Jan 2026) is off the table: Infra.Market is instead pursuing a backdoor listing through the already-listed Shalimar Paints. Nexus's exit route just changed shape entirely
₹6,650 Cr all-fresh issue; subscription/listing was guided for early-to-second week of August 2026 but actual completion could not be confirmed this cycle — flagged for follow-up. >$1.4bn already realised in 2019
Bloomberg (5 Aug 2026): ~$800M raise ($260M fresh + $540M OFS) at a $5-6bn valuation; FY26 profit ₹724 Cr (+21%). Firmer than the prior 'pre-IPO secondary' framing — Z47's ~$200M part-stake sale at ~$5bn is the read-through
Fireside sells ₹150 Cr in OFS: the D2C shelf’s benchmark print
₹450 Cr fresh issue + OFS of up to 7.65 Cr shares; A91 (largest holder at 21.02%) set to realise ~₹445 Cr in the OFS while retaining ~21%. Jungle Ventures, Inflexor, Steadview, Temasek (V-Sciences) and Survam also selling
Bessemer holds >26%: the fintech-infra benchmark print
~$15bn valuation; Tiger and Microsoft exit fully: the highest-stakes pending fintech print
The planned late-2026 SEBI draft filing is no longer active (market volatility, West Asia conflict, congested calendar). SVF2 re-entered ~$700M in 2021; the e-commerce benchmark listing has no date
$280M raise at ~$1.5bn (May 2026); RBI approved the tech-subsidiary/NBFC merger, and the company is converting to a public limited company with the IPO to follow completion. Middle-India lending's first big public print
Valuation compressed from peak; July's $160M private round funds the runway and defers the public test of B2B commerce marks
₹950 Cr fresh + OFS up to 17.86 Cr shares (~₹4,000 Cr total reported); FY26 revenue ₹1,801.8 Cr +41.6%, loss narrowed to ₹251.9 Cr. No SEBI approval or listing date yet; CEO says timing depends on investor feedback. Temasek's Mar-2026 ₹440 Cr entry at a flat $1.45bn is the reference mark
~$1bn IPO targeted at a $5-6bn valuation; appointed JPMorgan, Jefferies, Kotak and Axis; redomiciling Singapore→India ahead of the listing. Historic SoftBank/Kleiner Perkins backing — not currently held by a tracked GW firm
₹3,150 Cr OFS-only issue; sole seller is Stockholm's MTGx. Formerly VC-backed by Elevation Capital and IDG Ventures India before a 2021 acquisition — no tracked GW firm holds a current stake
KKR-backed (73.78% via Vertical Holdings) supply-chain asset-pooling firm; ₹2,480 Cr issue (₹480 Cr fresh + ₹2,000 Cr OFS). Likely at or near listing — needs a status check next refresh
~₹1,000-1,200 Cr target; 360One Asset-backed enterprise AI/analytics firm on its second IPO attempt after shelving one in 2022
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 Sep 2026 and never silently restated. Context: 24+ startups had filed DRHPs by mid-2026; the window reopened in July (₹52,300 Cr raised, Manipal +11% on debut) but it prices hard — Shadowfax listed at −9% and Zepto postponed rather than test it — so pricing risk sits in every row above.