India’s listed new-age companies could hit $1 trillion market value by 2030: RedSeer

India’s listed new-age ecosystem is projected to reach USD 1 trillion market capitalization by 2030, driven by a strong pipeline of companies poised to tap the public markets, according to a report released on Thursday by strategy consulting firm RedSeer.

According to the RedSear India IPO Report: 2026, the country currently has around 210 new-age companies poised for IPOs in the next 24 months, identified through an assessment of 1,400 companies.

Based on an analysis of more than 300 mainboard IPOs between FY21 and FY26, the report said India’s listed new-age companies currently account for about USD 150 billion in market capitalization, or about 4.6 percent of the country’s total market value.

This share could expand to around 11.5 percent by 2030 under RedSeer’s base-case scenario.

The report notes that India’s IPO market has grown nearly eightfold in terms of revenue over the past decade, making it the only major capital market to maintain uninterrupted growth in primary issues. India now ranks third globally in terms of IPO revenue.

According to the report, the country’s IPO market has also become more resilient due to increased participation of domestic institutional investors including mutual funds, insurance companies and pension funds backed by continuous Systematic Investment Plan (SIP) inflows.

This has reduced the market’s dependence on foreign capital during periods of global volatility.

The report further said that investor preference has shifted towards companies showing profitable growth.

Among new firms that went public between FY22 and FY26, the proportion of companies reporting profit after tax (PAT) at the time of listing increased from 50 percent to 70 percent, while average pre-IPO revenue growth declined from 50 percent to 33 percent.

“India’s IPO story has become much more interesting than the number of companies coming to the market every year. Over the past decade, the market has developed deeper, businesses have become more resilient and the local pool of capital has grown significantly,” said Rohan Agrawal, Partner, RedSeer.

Associate partner Abhishek Tandon said the IPO reflects years of business-building, with governance, financial discipline and valuation converging at the time of listing.