Indian SaaS startups set for IPO wave in 2025-26
Big year ahead: Seven to eight Indian SaaS companies are gearing up to go public in the next 12-18 months.
Amagi is leading the charge, with SEBI already clearing its ₹1,020 crore IPO for November 2025.
Several of these startups have crossed the $80-100 million revenue mark.
What do these SaaS firms actually do?
These companies build cloud-based software for all sorts of industries—think media streaming (Amagi), banking automation (BusinessNext), spa and fitness management (Zenoti), CRM tools (LeadSquared), AI-powered contracts (Icertis), sales enablement (Mindtickle), digital payments (Juspay) and interactive training platforms (Whatfix).
Basically, they're powering a lot of what happens behind the scenes in tech and business.
Why now?
After a rough patch in 2022 when valuations took a hit, things have bounced back.
Investor interest is strong again, with valuation multiples returning to healthy levels—Capillary Technologies recently hit an EV/sales multiple of 8x post-listing.
The resilience and steady growth are making Indian SaaS pretty hard to ignore right now.