Startup Policy Forum launches CNPC to support startups preparing for IPO

As India’s startup sector matures, a new initiative is emerging to support its transition into the public markets. The Startup Policy Forum (SPF), an alliance of more than 50 new-age companies, recently announced the formation of the Centre for New-age Public Companies (CNPC) to support the fast-expanding pool of listed and IPO-ready startups as they navigate the critical transition from private to public entities.

The announcement was made at a closed-door meeting in Mumbai between Tuhin Kanta Pandey, chairman of the Securities and Exchange Board of India (SEBI), and a 20-member delegation of startup founders and senior executives.

Among those present were prominent names such as Ritesh Agarwal of OYO, Shashank Kumar of Razorpay, Amrish Rau of Pine Labs, Rohit Kapoor of Swiggy, and senior executives from ixigo, Bluestone, Acko and Eazydiner.

According to SPF, roughly 40 Indian startups, collectively valued at over $90 billion, are expected to go public in the near future. Companies preparing for listings include some of the country’s most prominent consumer and tech brands, such as Lenskart, Wakefit, PhysicsWallah, Infra.Market, Boat and Shiprocket.

“India’s capital markets are witnessing a structural shift, with new-age and tech-driven companies increasingly dominating IPO pipelines and investor interest,” said Shweta Rajpal Kohli, president and CEO of the Startup Policy Forum.

Kohli further said the centre will enhance readiness and resilience of new-age companies as they enter and thrive in public markets.

The CNPC intends to serve as a bridge between India’s rapidly scaling tech companies and the country’s capital market institutions. Its primary mandate includes advocacy with SEBI and other regulators to help modernise listing frameworks in line with the operational realities of tech-driven enterprises. It will also create policy briefs, governance toolkits, and IPO-readiness guides tailored to the startup ecosystem.

The Centre's programming will focus on four verticals: regulatory advocacy, capacity building through workshops and webinars, peer engagement forums, and publication of best-practice manuals on compliance, ESG, and investor communication.

Ashish Chauhan, CEO of the National Stock Exchange of India, praised the move, calling the growing presence of new-age startups in public markets “a significant evolution.” “Initiatives like this will promote better governance, transparency, and capital market preparedness while fostering trust among retail and institutional investors,” he said.

SPF’s membership already includes several listed startups, including Swiggy, ixigo, Ather Energy, MobiKwik and Blackbuck. Many more are on the path to listing, including Pine Labs, Meesho, Groww, IndiQube, Curefoods, Bluestone and Physics Wallah.